HomeMinnesotaFreeborn CountyAlbert Lea
Albert Lea, Minnesota: commercial real estate data.
Albert Lea 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 since FY2020.
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
- 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
Counted by borrower city: approvals to borrowers whose address is in Albert Lea, in any county, FY2020 to FY2026. Only 3 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
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
Counted by borrower city: approvals to borrowers whose address is in Albert Lea, in any county, FY2010 to FY2026. Only 8 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Albert Lea
Flood risk in Albert Lea
- NFIP communityCity of Albert Lea
- NFIP community number270135
- Participating in the NFIPYes
- Community Rating System classNone
- Currently effective map date11/19/14
The City of Albert Lea participates in the National Flood Insurance Program as community 270135 and carries no Community Rating System class, so no CRS premium discount applies to it.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Freeborn County, not Albert Lea
Freeborn County context, not Albert Lea figures
- Establishments in Freeborn County755
- Covered employment, Freeborn County11,963
- Average annual pay, Freeborn County$53,099
- Housing units permitted, Freeborn County16
Every figure in this section is published for Freeborn County as a whole and is not a measurement of Albert Lea.
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.
Coverage
What this page does not hold.
Parcel detail, 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 →
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 totaling $7.9 m since FY2020, across 10 lenders, median approval $100,000, plus 23 504 approvals worth $11.6 m since FY2010. 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 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published. The counts are shown instead.
Is Albert Lea in the National Flood Insurance Program?
Yes. Albert Lea appears in the FEMA Community Status Book as Albert Lea, city of, community 270135, with no Community Rating System class, so no CRS discount applies. Whether a specific parcel sits in a mapped special flood hazard area is an address level question the platform answers.
Are the county figures on this page Albert Lea figures?
No, and they are labeled 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?
No. Nothing on this page presents parcel level zoning.
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