HomeMinnesotaFreeborn CountyAlbert Lea city
Albert Lea city, Minnesota: commercial real estate data.
Albert Lea city is a Census city of 18,330 people across 13.29 square miles of land, in Freeborn County. Median household income is $64,603, 74.1 percent of occupied homes are owned, and the SBA record carries 17 7(a) approvals to borrowers here worth $7.9 m.
76 sourced place values · tier FULL · 8 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Albert Lea
What Albert Lea is
- Census place typecity
- Land area13.29 sq mi
- Water area1.85 sq mi
- Population per square mile of land1,380
- County holding the largest share of its areaFreeborn County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Albert Lea
How many people live in Albert Lea
- Population18,330
- Median age44.3
- Population under 183,918
- Share under 1821.4 percent
- Population 65 and over4,619
- Share 65 and over25.2 percent
- Households7,788
- Family households4,517
- Share of households that are families58.0 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Albert Lea
Income and work in Albert Lea
- Median household income$64,603
- Per capita income$39,282
- Civilian labor force8,547
- Employed8,059
- Unemployed488 plus or minus 146
- Unemployment rate5.7 percent plus or minus 1.7
- Adults 25 and over13,050
- Adults 25 and over with a high school diploma or higher89.4 percent
- Adults 25 and over with a bachelor degree or higher17.4 percent
- Adults 25 and over with a graduate degree6.1 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Albert Lea
Housing in Albert Lea
- Housing units8,552
- Occupied units7,788
- Vacant units764 plus or minus 239
- Vacancy rate8.9 percent plus or minus 2.8
- Owner occupied5,771
- Renter occupied2,017
- Ownership rate74.1 percent
- Median owner-occupied home value$157,500
- Median gross rent, monthly$857
- Annual rent as a share of median income15.9 percent
- Single family units6,647
- Share single family77.7 percent
- Units in buildings of two or more1,740
- Share in buildings of two or more20.3 percent
- Mobile homes165 plus or minus 104
- Median year structure built1960
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Albert Lea
How Albert Lea gets to work
- Workers 16 and over who commute7,379
- Commuting under 15 minutes4,518
- Share commuting under 15 minutes61.2 percent
- Commuting 30 minutes or more1,327 plus or minus 265
- Share commuting 30 minutes or more18.0 percent
- Drove alone77.5 percent
- Carpooled8.7 percent plus or minus 1.9
- Public transport0.2 percent plus or minus 0.3
- Walked3.5 percent plus or minus 1.4
- Worked from home7.1 percent plus or minus 2.0
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Albert Lea
SBA loans in Albert Lea (7(a))
- Approvals17
- Gross approval$7,939,000
- Average approval$467,000
- Median approval$100,000
- Ninetieth percentile approval$2,295,000
- Largest approval$3,246,400
- Jobs supported115
- Jobs per approval6.8
- Loans with a final outcome3
- Paid in full3
- Charged off0
- Median term120 months
- Share on real estate terms of 20 years or more23.5 percent
- Share to franchises11.8 percent
- Distinct lenders10
- Distinct industries by NAICS11
A charge-off rate is not published here. only 3 resolved loans, too few to publish a rate, and a rate over that few outcomes would move several points on one loan.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Albert Lea
SBA loans in Albert Lea (504)
- Approvals23
- Gross approval$11,553,000
- Average approval$502,304
- Median approval$334,000
- Largest approval$1,566,000
- Jobs supported260
- Loans with a final outcome8
- Charged off1
- Median term240 months
- Distinct CDCs4
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Freeborn County, not Albert Lea
Freeborn County context, not Albert Lea figures
These are Freeborn County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Albert Lea measurements.
- Establishments in Freeborn County755
- Employment at those establishments, Freeborn County10,861
- Covered employment, Freeborn County11,963
- Average annual pay, Freeborn County$53,099
- Average weekly wage, Freeborn County$1,021
- Housing units permitted, Freeborn County16
- Of those, single family, Freeborn County16
- County product, 2024, Freeborn County$1,740,083,000
- County product change over the prior year, Freeborn County1.7 percent
- Average income of an arriving household, Freeborn County$49,790
Every figure in this section is published for Freeborn County as a whole and is not a measurement of Albert Lea. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
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.
- This place is not listed as a community in the FEMA Community Status Book, so no NFIP participation or CRS class is shown.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
Common questions
Albert Lea questions, answered from the record.
How many people live in Albert Lea, Minnesota?
18,330, in 7,788 households. Albert Lea city covers 13.29 square miles of land, which is 1,380 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Albert Lea in?
Freeborn County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Albert Lea?
$64,603. The median owner-occupied home is valued at $157,500. Median gross rent is $857 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Albert Lea businesses?
17 7(a) approvals totalling $7.9 m, across 10 lenders, median approval $100,000, plus 23 504 approvals worth $11.6 m. These count approvals to borrowers whose address is in Albert Lea, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Albert Lea borrowers get paid back?
No rate is published for Albert Lea. only 3 resolved loans, too few to publish a rate, and a percentage over that few outcomes would move several points on a single loan. The counts are shown instead.
Are the county figures on this page Albert Lea figures?
No, and they are labelled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Freeborn County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Albert Lea.
Is zoning published for Albert Lea?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.
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