Watonwan County, Minnesota: commercial real estate data.
Watonwan County, Minnesota has a population of 11,205 across 435 square miles, down 0.4 percent since the 2020 census base. County output reached $610.8 m in 2024, 280 establishments operate here, and the SBA record carries 4 7(a) approvals worth $594,000.
113 sourced county values · tier FULL · 10 sections
Watonwan County
How many people live in Watonwan County
- Population11,205
- Households4,227
- Average household size2.65
- Median household income$71,699
- Median age40.8
- Median gross rent$834 per month
- Median owner-occupied home value$162,400
- Home value to household income2.3 times
- Annual rent as a share of median income14.0 percent
- Adults 25 and over with a bachelor degree or higher17.2 percent
- Adults 25 and over with a graduate degree4.3 percent
- Adults 25 and over7,379
- Population under 182,948
- Share under 1826.3 percent
- Population 65 and over2,265
- Share 65 and over20.2 percent
- Working age population, 18 to 645,992
- Civilian labor force5,427
- Unemployment rate5.3 percent
- Labor force participation, adults 18 and over65.7 percent
- Rank by population among Minnesota counties65th of 87
- Rank by population among US county-equivalents2405th
Watonwan County is the 65th largest of 87 Minnesota counties by population. A median home costs 2.3 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 26.3 percent against 20.2 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Watonwan County
Is Watonwan County growing
- Population change since the 2020 census base-0.44 percent
- Census 2020 base population11,254
- Births, 2024165
- Deaths, 2024120
- Natural change, 202445
- Net domestic migration, 2024-117
- Net international migration, 202496
- Total net migration, 2024-21
- Cumulative net domestic migration, 2021 to 2024-547
- Rank by growth among US county-equivalents1997th
The county has lost 0.44 percent of its population since the 2020 census base. Births exceeded deaths in 2024 but more people left than arrived, so the population is being sustained internally rather than attracting.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Watonwan County
Where people moving to Watonwan County come from
- Tax returns filed by households arriving166
- People arriving, from those returns295
- Adjusted gross income arriving$7.6 m
- Net adjusted gross income movement$0
- Average income of an arriving household$45,675
- Largest single originWatonwan County Non-migrants (4,095 households)
- Largest single destination (4,095 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Watonwan County Non-migrants | 4,095 | 8,572 | $275.9 m |
| Other flows - Same State | 109 | 188 | $5.1 m |
| Blue Earth County | 32 | 61 | $1.4 m |
| Other flows - Different State | 25 | 46 | $1.1 m |
| Other flows - Midwest | 25 | 46 | $1.1 m |
The largest single source of arrivals is Watonwan County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Watonwan County
What the Watonwan County economy runs on
- County GDP, 2024$610.8 m
- County GDP, 2023$584.0 m
- GDP change, 2023 to 20244.6 percent
- GDP change over five years34.9 percent
- Rank by GDP among Minnesota counties71st
- Rank by GDP among US county-equivalents2261st
- GDP per resident$54,515
Output grew 4.6 percent in the latest year and 34.9 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Watonwan County
Who employs people in Watonwan County
- Covered employment, annual average4,510
- Establishments reporting343
- Average annual pay$48,323
- Average weekly wage$929
- Sector 31-33, employment1,419
- Sector 31-33, average annual pay$52,158
- Sector 62, employment422
- Sector 62, average annual pay$60,649
- Sector 44-45, employment316
- Sector 44-45, average annual pay$28,131
- Sector 48-49, employment306
- Sector 48-49, average annual pay$41,000
- Sector 23, employment243
- Sector 72, employment191
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 31-33 | 1,419 | 19 | $52,158 |
| Sector 62 | 422 | 32 | $60,649 |
| Sector 44-45 | 316 | 34 | $28,131 |
| Sector 48-49 | 306 | 26 | $41,000 |
| Sector 23 | 243 | 46 | $64,062 |
| Sector 72 | 191 | 20 | $18,435 |
| Sector 52 | 146 | 21 | $58,302 |
| Sector 56 | 129 | 16 | $47,093 |
The largest sector is the biggest private employer group at 1,419 jobs, 31.5 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Watonwan County
What businesses operate in Watonwan County
- Establishments, all industries280
- Employment at those establishments3,793
- Annual payroll$174.5 m
- Establishments per 1,000 residents25.0
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Watonwan County
What is being built in Watonwan County
- Housing units authorised by permit, 20247
- Declared construction value permitted$1.7 m
- Single family units authorised3
- Multifamily units authorised4
- Multifamily share of units57.1 percent
- Average declared value per unit$240,952
- Units authorised per 1,000 households1.7
Multifamily is 57.1 percent of units authorised, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Watonwan County
How much SBA lending happens in Watonwan County
- 7(a) approvals recorded4
- 7(a) gross approval dollars$594,000
- Average 7(a) approval$148,500
- Median 7(a) approval$114,000
- 10th percentile approval$86,000
- 90th percentile approval$283,000
- Largest single approval$283,000
- Jobs reported supported, 7(a)36
- Jobs per approval9.0
- Distinct 7(a) lenders active2
- Distinct industries receiving approvals3
- Median 7(a) term300 months
- Share of loans on real estate terms, 240 months or longer75.0 percent
- Loans on real estate terms3
- Loans on working capital terms, 120 months or shorter1
- Franchise loans1
- Franchise share of approvals25.0 percent
- Leading industry by approval countLessors of Miniwarehouses and Self-Storage Units (2)
- Most active lenderBankVista (3)
- 504 approvals recorded6
- 504 gross approval dollars$2.3 m
- Average 504 approval$387,000
- Median 504 approval$442,000
- Distinct CDCs active2
- 504 jobs per approval4.0
- 504 jobs per million dollars approved10.3
- Most active CDCMidwest Business Finance Corporation (4)
- 7(a) share of SBA approvals40.0 percent
- Combined SBA approval dollars$2.9 m
The average approval of $148,500 sits close to the median of $114,000, so lending here is fairly evenly sized rather than driven by a few large deals. 75.0 percent of approvals run on real estate terms of 240 months or more, so this is a market where SBA credit is buying buildings, not just funding operations.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Watonwan County
Do SBA loans in Watonwan County get paid back
- Loans with a final outcome recorded2
- Paid in full2
- Charged off0
- Status: Paid in full2
- Status: Cancelled1
- Status: Exempt from disclosure1
Too few loans have reached a final outcome to publish a charge off rate. only 2 resolved loans, too few to publish a rate. A rate computed on a handful of loans is noise, so none is shown.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Watonwan County
How big is Watonwan County
- Land area435 sq mi
- Rank by land area among Minnesota counties76th of 87
- Width, east to west24.5 mi
- Height, north to south18 mi
- Geographies sharing a boundary5
- Residents per square mile of land26
- Establishments per square mile0.64
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Watonwan County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Watonwan County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population11,205
- Households4,227
- Average household size2.65
- Median household income$71,699
- Median age40.8
Common questions
Watonwan County questions, answered from the record.
How many people live in Watonwan County, Minnesota?
11,205, in 4,227 households, ranking 65th of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Watonwan County growing?
The population has fallen 0.44 percent since the 2020 census base. In 2024 there were 165 births against 120 deaths, with net migration of -21. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Watonwan County?
$71,699. The median owner-occupied home is valued at $162,400, which is 2.3 times income, and median gross rent is $834 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Watonwan County?
280 establishments, employing 3,793 people with an annual payroll of $174.5 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Watonwan County?
Average annual pay is $48,323, or $929 a week, across 4,510 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Watonwan County?
4 7(a) approvals totalling $594,000 since FY2020, across 2 lenders, with a median approval of $114,000, plus 6 504 approvals worth $2.3 m. These are approvals recorded in the release, not loans disbursed.
What is being built in Watonwan County?
7 housing units were authorised by permit in 2024, with a declared construction value of $1.7 m. Multifamily was 57.1 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Watonwan County?
Zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Watonwan County come from?
The largest single origin is Watonwan County Non-migrants, with 4,095 households. Arriving households report an average income of $45,675 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Watonwan County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Watonwan County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.