Dakota County, Minnesota: commercial real estate data.
Dakota County, Minnesota had an estimated 453,156 residents on July 1, 2024, up 3.0 percent since the 2020 census base of 439,880, across 562 square miles. County output reached $37.14 bn in 2024, 10,964 establishments operate here, and the SBA record carries 780 7(a) approvals worth $410.3 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Dakota County
How many people live in Dakota County
- Population, American Community Survey 2020-2024445,771
- Households174,362
- Average household size2.56
- Median household income$106,318
- Median age38.6
- Median gross rent$1,548 per month
- Median owner-occupied home value$381,000
- Home value to household income3.6 times
- Annual rent as a share of median income17.5 percent
- Adults 25 and over with a bachelor degree or higher45.0 percent
- Adults 25 and over with a graduate degree14.9 percent
- Adults 25 and over304,436
- Population under 18106,823
- Share under 1824.0 percent
- Population 65 and over70,787
- Share 65 and over15.9 percent
- Working age population, 18 to 64268,161
- Civilian labor force248,917
- Unemployment rate3.6 percent
- Labor force participation, adults 18 and over73.4 percent
- Rank by population among Minnesota counties3rd of 87
- Rank by population among US county-equivalents, Puerto Rico included163rd of 3,222
Dakota County is the 3rd largest of 87 Minnesota counties by population. A median home costs 3.6 times median household income, which is moderately unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 24.0 percent against 15.9 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Dakota County
Is Dakota County's population growing?
- Population, July 1, 2024453,156
- Census 2020 base population439,880
- Population change since the 2020 census base3.02 percent
- Population change, 2023 to 20244,661
- Births, 20244,842
- Deaths, 20243,218
- Natural change, 20241,624
- Net domestic migration, 2024986
- Net international migration, 20242,059
- Total net migration, 20243,045
- Cumulative net domestic migration, 2021 to 202469
- Rank by growth among US county-equivalents865th of 3,144
The county has grown 3.02 percent since the 2020 census base. The population grew in 2024 from both sources: births exceeded deaths and more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Dakota County
Where are people moving to Dakota County from?
- Tax returns filed by households arriving14,390
- People arriving, from those returns24,298
- Tax returns filed by households leaving14,587
- Net household movement-197
- Adjusted gross income arriving$1.01 bn
- Net adjusted gross income movement$-188.6 m
- Average income of an arriving household$70,009
- Average income of a leaving household$81,995
- Largest single originHennepin County (3,981 households)
- Largest single destinationHennepin County (3,257 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Hennepin County | 3,981 | 6,823 | $293.1 m |
| Ramsey County | 2,472 | 4,223 | $166.4 m |
| Scott County | 1,004 | 1,827 | $75.0 m |
| Washington County | 966 | 1,539 | $64.2 m |
| Anoka County | 341 | 587 | $21.5 m |
| Rice County | 267 | 447 | $16.6 m |
| Olmsted County | 196 | 337 | $14.9 m |
| Goodhue County | 148 | 243 | $10.3 m |
Households arriving report $11,986 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Hennepin County, 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.
Dakota County
What is the Dakota County economy?
- County GDP, 2024$37.14 bn
- County GDP, 2023$35.51 bn
- GDP change, 2023 to 20244.6 percent
- GDP change over five years38.2 percent
- Rank by GDP among the Minnesota areas BEA publishes3rd of 87
- Rank by GDP among the US county areas BEA publishes161st of 3,127
- GDP per resident$83,313
Output grew 4.6 percent in the latest year and 38.2 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.
Dakota County
Employment by industry in Dakota County
- Covered employment, annual average189,387
- Establishments reporting11,950
- Average annual pay$72,792
- Average weekly wage$1,400
- Health care and social assistance, employment24,929
- Health care and social assistance, average annual pay$56,405
- Retail trade, employment24,020
- Retail trade, average annual pay$39,587
- Manufacturing, employment19,591
- Manufacturing, average annual pay$89,850
- Accommodation and food services, employment15,558
- Accommodation and food services, average annual pay$26,521
- Transportation and warehousing, employment11,211
- Construction, employment10,366
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 24,929 | 2,023 | $56,405 |
| Retail trade | 24,020 | 1,156 | $39,587 |
| Manufacturing | 19,591 | 465 | $89,850 |
| Accommodation and food services | 15,558 | 781 | $26,521 |
| Transportation and warehousing | 11,211 | 425 | $68,700 |
| Construction | 10,366 | 1,089 | $111,166 |
| Finance and insurance | 9,329 | 617 | $115,566 |
| Wholesale trade | 8,925 | 712 | $94,100 |
Health care and social assistance is the largest private sector at 24,929 jobs, 13.2 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Dakota County
How many businesses are in Dakota County?
- Establishments, all industries10,964
- Employment at those establishments185,426
- Annual payroll$12.43 bn
- Establishments per 1,000 residents24.6
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Dakota County
Building permits in Dakota County
- Housing units authorized by permit, 20242,146
- Declared construction value permitted$528.6 m
- Single family units authorized1,236
- Multifamily units authorized910
- Multifamily share of units42.4 percent
- Average declared value per unit$246,319
- Units authorized per 1,000 households12.3
Multifamily is 42.4 percent of units authorized, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Dakota County
SBA loans in Dakota County (7(a) and 504)
- 7(a) approvals recorded780
- 7(a) gross approval dollars$410.3 m
- Average 7(a) approval$525,984
- Median 7(a) approval$200,000
- 10th percentile approval$24,800
- 90th percentile approval$1,545,360
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)9,697
- Jobs per approval12.4
- Distinct 7(a) lenders active101
- Distinct industries receiving approvals210
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer7.6 percent
- Loans on real estate terms59
- Loans on working capital terms, 120 months or shorter672
- Franchise loans93
- Franchise share of approvals11.9 percent
- Leading industry by approval countFull-Service Restaurants (31)
- Most active lenderU.S. Bank, National Association (125)
- 504 approvals recorded298
- 504 gross approval dollars$257.0 m
- Average 504 approval$862,312
- Median 504 approval$552,000
- Distinct CDCs active7
- 504 jobs per approval14.9
- 504 jobs per million dollars approved17.3
- Most active CDCTwin Cities-Metro Certified Development Company (126)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$667.2 m
The average approval of $525,984 sits well above the median of $200,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 7.6 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
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.
Dakota County
SBA loan default and charge-off rates in Dakota County
Do SBA loans in Dakota County get paid back?
- Loans with a final outcome recorded183
- Paid in full163
- Charged off20
- Charge-off rate on resolved loans10.9 percent
- Status: Paid in full163
- Status: Exempt from disclosure464
- Status: Charged off20
- Status: Cancelled83
- Status: Committed, not yet disbursed50
Of the 183 loans that have reached a final outcome, 10.9 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Dakota County
SBA lending by place in Dakota County
- Borrower cities with recorded lending20
- Burnsville, approvals176
- Saint Paul, approvals139
- Lakeville, approvals121
- Eagan, approvals68
- Apple Valley, approvals54
- Rosemount, approvals51
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Burnsville | 176 | $117,040,500 |
| Saint Paul | 139 | $61,790,000 |
| Lakeville | 121 | $61,792,400 |
| Eagan | 68 | $32,503,100 |
| Apple Valley | 54 | $31,285,000 |
| Rosemount | 51 | $25,364,100 |
| Inver Grove Heights | 49 | $24,244,000 |
| South St. Paul | 31 | $18,065,200 |
| 12 other borrower cities | 91 | $38,183,500 |
Burnsville accounts for 176 approvals against 139 in Saint Paul. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Dakota County
How large is Dakota County?
- Land area562 sq mi
- Rank by land area among Minnesota counties58th of 87
- Width, east to west29.3 mi
- Height, north to south30.9 mi
- Geographies sharing a boundary7
- Residents per square mile of land793
- Establishments per square mile19.51
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.
Dakota County
Flood risk in Dakota County
- Participation of the county's own NFIP community Dakota County, unincorporated areasParticipating, community 270101
- Communities in the county in the NFIP Community Status Book22
- Of those, participating in the NFIP20
- NFIP participation rate90.9 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 10
- Communities carrying a CRS class1
- Radon levels in Dakota County, EPA zone predicted average indoor radon screening level greater than 4 pCi/LZone 1
The county's own community in the status book, unincorporated Dakota County (community 270101), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Dakota County in radon zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 10, which carries a flood insurance premium discount for policies written in that community. 90.9 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Dakota 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 Dakota County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-2024445,771
- Households174,362
- Average household size2.56
- Median household income$106,318
- Median age38.6
Common questions
Dakota County questions, answered from the record.
How many people live in Dakota County, Minnesota?
The Census Bureau estimates 453,156 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 445,771, in 174,362 households, ranking 3rd of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Dakota County's population growing?
The population has grown 3.02 percent since the 2020 census base of 439,880, to 453,156 on July 1, 2024. In 2024 there were 4,842 births against 3,218 deaths, with net migration of 3,045. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Dakota County?
$106,318. The median owner-occupied home is valued at $381,000, which is 3.6 times income, and median gross rent is $1,548 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Dakota County?
10,964 establishments, employing 185,426 people with an annual payroll of $12.43 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Dakota County?
Health care and social assistance is the largest private sector at 24,929 jobs, 13.2 percent of covered employment. Covered employment averages 189,387 jobs at an average annual pay of $72,792, or $1,400 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Dakota County?
780 7(a) approvals totaling $410.3 m since FY2020, across 101 lenders, with a median approval of $200,000, plus 298 504 approvals worth $257.0 m since FY2010. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Dakota County get paid back?
Of the 183 loans that have reached a final outcome, 163 were paid in full and 20 charged off, a charge-off rate of 10.9 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Dakota County?
2,146 housing units were authorized by permit in 2024, with a declared construction value of $528.6 m. Multifamily was 42.4 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Dakota 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 Dakota County come from?
The largest single origin is Hennepin County, with 3,981 households. Arriving households report an average income of $70,009 against $81,995 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Dakota 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 Dakota County?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Dakota County
Cities and places in Dakota.
22 Census places lie wholly or partly in Dakota County. All 22 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Lakeville | city | 74,354 | 121 | Wholly in this county |
| Eagan | city | 68,000 | 68 | Wholly in this county |
| Burnsville | city | 64,463 | 176 | Wholly in this county |
| Apple Valley | city | 55,679 | 54 | Wholly in this county |
| Inver Grove Heights | city | 35,906 | 49 | Wholly in this county |
| Rosemount | city | 27,562 | 51 | Wholly in this county |
| Farmington | city | 23,902 | 27 | Wholly in this county |
| Hastings | city | 22,117 | 27 | 97.4 percent here, 2.6 percent Washington County |
| West St. Paul | city | 21,382 | 11 | Wholly in this county |
| Northfield | city | 20,742 | 6 | 18.2 percent here, 81.8 percent Rice County |
| South St. Paul | city | 20,611 | 31 | Wholly in this county |
| Mendota Heights | city | 11,612 | 12 | Wholly in this county |
| Empire | city | 3,092 | None recorded | Wholly in this county |
| Lilydale | city | 772 | None recorded | Wholly in this county |
| Hampton | city | 590 | 2 | Wholly in this county |
| Sunfish Lake | city | 533 | None recorded | Wholly in this county |
| Randolph | city | 461 | None recorded | Wholly in this county |
| Vermillion | city | 399 | None recorded | Wholly in this county |
| Mendota | city | 207 | None recorded | Wholly in this county |
| Coates | city | 131 | None recorded | Wholly in this county |
| Miesville | city | 125 | None recorded | Wholly in this county |
| New Trier | city | 78 | None recorded | Wholly in this county |
A further 145 of the county's 780 SBA 7(a) approvals are to borrowers in cities that match no Census place in Dakota County, the largest being Saint Paul (139), Lakevile (1), Maple Grove (1). Those are postal cities, unincorporated areas and cities outside the county, so no place row claims them; they are counted in the county total above.