Goodhue County, Minnesota: commercial real estate data.
Goodhue County, Minnesota had an estimated 47,982 residents on July 1, 2024, up 0.8 percent since the 2020 census base of 47,582, across 757 square miles. County output reached $3.92 bn in 2024, 1,294 establishments operate here, and the SBA record carries 39 7(a) approvals worth $13.5 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Goodhue County
How many people live in Goodhue County
- Population, American Community Survey 2020-202447,943
- Households19,727
- Average household size2.43
- Median household income$84,171
- Median age42.5
- Median gross rent$966 per month
- Median owner-occupied home value$285,100
- Home value to household income3.4 times
- Annual rent as a share of median income13.8 percent
- Adults 25 and over with a bachelor degree or higher27.9 percent
- Adults 25 and over with a graduate degree8.6 percent
- Adults 25 and over34,018
- Population under 1810,514
- Share under 1821.9 percent
- Population 65 and over9,872
- Share 65 and over20.6 percent
- Working age population, 18 to 6427,557
- Civilian labor force24,945
- Unemployment rate3.6 percent
- Labor force participation, adults 18 and over66.6 percent
- Rank by population among Minnesota counties20th of 87
- Rank by population among US county-equivalents, Puerto Rico included1039th of 3,222
Goodhue County is the 20th largest of 87 Minnesota counties by population. A median home costs 3.4 times median household income, which is moderately unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 21.9 percent against 20.6 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Goodhue County
Is Goodhue County's population growing?
- Population, July 1, 202447,982
- Census 2020 base population47,582
- Population change since the 2020 census base0.84 percent
- Population change, 2023 to 2024-68
- Births, 2024476
- Deaths, 2024504
- Natural change, 2024-28
- Net domestic migration, 2024-92
- Net international migration, 202452
- Total net migration, 2024-40
- Cumulative net domestic migration, 2021 to 2024576
- Rank by growth among US county-equivalents1536th of 3,144
The county has grown 0.84 percent since the 2020 census base. The population fell in 2024 from both sources: deaths exceeded births and more people left than moved in.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Goodhue County
Where are people moving to Goodhue County from?
- Tax returns filed by households arriving1,304
- People arriving, from those returns2,193
- Tax returns filed by households leaving1,307
- Net household movement-3
- Adjusted gross income arriving$84.4 m
- Net adjusted gross income movement$-5.3 m
- Average income of an arriving household$64,721
- Average income of a leaving household$68,663
- Largest single originDakota County (242 households)
- Largest single destinationOlmsted County (181 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Dakota County | 242 | 404 | $14.2 m |
| Olmsted County | 158 | 270 | $10.0 m |
| Hennepin County | 82 | 121 | $5.9 m |
| Wabasha County | 78 | 148 | $4.7 m |
| Ramsey County | 62 | 121 | $5.4 m |
| Rice County | 47 | 73 | $2.1 m |
| Washington County | 41 | 63 | $3.2 m |
| Pierce County | 34 | 57 | $2.0 m |
Households arriving report $3,942 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Dakota 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.
Goodhue County
What is the Goodhue County economy?
- County GDP, 2024$3.92 bn
- County GDP, 2023$3.89 bn
- GDP change, 2023 to 20240.7 percent
- GDP change over five years30.3 percent
- Rank by GDP among the Minnesota areas BEA publishes16th of 87
- Rank by GDP among the US county areas BEA publishes821st of 3,127
- GDP per resident$81,676
Output grew 0.7 percent in the latest year and 30.3 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.
Goodhue County
Employment by industry in Goodhue County
- Covered employment, annual average21,366
- Establishments reporting1,388
- Average annual pay$60,513
- Average weekly wage$1,164
- Manufacturing, employment4,647
- Manufacturing, average annual pay$70,052
- Health care and social assistance, employment2,750
- Health care and social assistance, average annual pay$59,657
- Retail trade, employment2,133
- Retail trade, average annual pay$36,241
- Accommodation and food services, employment1,869
- Accommodation and food services, average annual pay$22,719
- Construction, employment852
- Wholesale trade, employment728
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Manufacturing | 4,647 | 99 | $70,052 |
| Health care and social assistance | 2,750 | 166 | $59,657 |
| Retail trade | 2,133 | 171 | $36,241 |
| Accommodation and food services | 1,869 | 104 | $22,719 |
| Construction | 852 | 149 | $78,711 |
| Wholesale trade | 728 | 50 | $80,035 |
| Other services, except public administration | 635 | 130 | $39,299 |
| Administrative and support and waste management services | 462 | 62 | $61,583 |
Manufacturing is the largest private sector at 4,647 jobs, 21.7 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Goodhue County
How many businesses are in Goodhue County?
- Establishments, all industries1,294
- Employment at those establishments18,951
- Annual payroll$1.03 bn
- Establishments per 1,000 residents27.0
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. 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.
Goodhue County
Building permits in Goodhue County
- Housing units authorized by permit, 202486
- Declared construction value permitted$25.3 m
- Single family units authorized78
- Multifamily units authorized8
- Multifamily share of units9.3 percent
- Average declared value per unit$293,954
- Units authorized per 1,000 households4.4
Single-family homes are 90.7 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Goodhue County
SBA loans in Goodhue County (7(a) and 504)
- 7(a) approvals recorded39
- 7(a) gross approval dollars$13.5 m
- Average 7(a) approval$347,123
- Median 7(a) approval$150,000
- 10th percentile approval$24,000
- 90th percentile approval$726,200
- Largest single approval$2,779,000
- Jobs reported supported, 7(a)374
- Jobs per approval9.6
- Distinct 7(a) lenders active22
- Distinct industries receiving approvals30
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer15.4 percent
- Loans on real estate terms6
- Loans on working capital terms, 120 months or shorter33
- Franchise loans6
- Franchise share of approvals15.4 percent
- Most active lenderBayFirst National Bank (4)
- 504 approvals recorded34
- 504 gross approval dollars$13.2 m
- Average 504 approval$388,824
- Median 504 approval$265,000
- Distinct CDCs active4
- 504 jobs per approval5.8
- 504 jobs per million dollars approved14.8
- Most active CDCTwin Cities-Metro Certified Development Company (15)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$26.8 m
The average approval of $347,123 sits well above the median of $150,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 15.4 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.
Goodhue County
SBA loan default and charge-off rates in Goodhue County
Do SBA loans in Goodhue County get paid back?
- Loans with a final outcome recorded9
- Paid in full9
- Charged off0
- Status: Exempt from disclosure29
- Status: Paid in full9
- Status: Committed, not yet disbursed1
Only 9 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
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.
Goodhue County
SBA lending by place in Goodhue County
- Borrower cities with recorded lending10
- Red Wing, approvals14
- Cannon Falls, approvals6
- Lake City, approvals4
- Goodhue, approvals3
- Pine Island, approvals3
- Zumbrota, approvals3
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Red Wing | 14 | $4,134,400 |
| Cannon Falls | 6 | $3,477,300 |
| Lake City | 4 | $2,625,000 |
| Goodhue | 3 | $650,300 |
| Pine Island | 3 | $629,900 |
| Zumbrota | 3 | $406,200 |
| Dennison | 2 | $125,000 |
| Kenyon | 2 | $119,700 |
| 2 other borrower cities | 2 | $1,370,000 |
Red Wing accounts for 14 approvals against 6 in Cannon Falls. 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.
Goodhue County
How large is Goodhue County?
- Land area757 sq mi
- Rank by land area among Minnesota counties32nd of 87
- Width, east to west39.4 mi
- Height, north to south35.8 mi
- Geographies sharing a boundary7
- Residents per square mile of land63
- Establishments per square mile1.71
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.
Goodhue County
Flood risk in Goodhue County
- Participation of the county's own NFIP community Goodhue County, unincorporated areasParticipating, community 270140
- Communities in the county in the NFIP Community Status Book12
- Of those, participating in the NFIP12
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Goodhue 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 Goodhue County (community 270140), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Goodhue 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. 100.0 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 Goodhue 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 Goodhue County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202447,943
- Households19,727
- Average household size2.43
- Median household income$84,171
- Median age42.5
Common questions
Goodhue County questions, answered from the record.
How many people live in Goodhue County, Minnesota?
The Census Bureau estimates 47,982 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 47,943, in 19,727 households, ranking 20th of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Goodhue County's population growing?
The population has grown 0.84 percent since the 2020 census base of 47,582, to 47,982 on July 1, 2024. In 2024 there were 476 births against 504 deaths, with net migration of -40. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Goodhue County?
$84,171. The median owner-occupied home is valued at $285,100, which is 3.4 times income, and median gross rent is $966 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Goodhue County?
1,294 establishments, employing 18,951 people with an annual payroll of $1.03 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 Goodhue County?
Manufacturing is the largest private sector at 4,647 jobs, 21.7 percent of covered employment. Covered employment averages 21,366 jobs at an average annual pay of $60,513, or $1,164 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Goodhue County?
39 7(a) approvals totaling $13.5 m since FY2020, across 22 lenders, with a median approval of $150,000, plus 34 504 approvals worth $13.2 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Goodhue County?
86 housing units were authorized by permit in 2024, with a declared construction value of $25.3 m. Multifamily was 9.3 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Goodhue 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 Goodhue County come from?
The largest single origin is Dakota County, with 242 households. Arriving households report an average income of $64,721 against $68,663 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Goodhue 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 Goodhue 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.
Goodhue County
Cities and places in Goodhue.
11 Census places lie wholly or partly in Goodhue County. All 11 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 |
|---|---|---|---|---|
| Red Wing | city | 16,758 | 14 | Wholly in this county |
| Lake City | city | 5,034 | 4 | 18.8 percent here, 81.2 percent Wabasha County |
| Cannon Falls | city | 4,227 | 6 | Wholly in this county |
| Zumbrota | city | 3,914 | 3 | Wholly in this county |
| Pine Island | city | 3,580 | 3 | 53.7 percent here, 46.3 percent Olmsted County |
| Kenyon | city | 1,824 | 2 | Wholly in this county |
| Wanamingo | city | 1,389 | None recorded | Wholly in this county |
| Goodhue | city | 1,074 | 3 | Wholly in this county |
| Bellechester | city | 227 | None recorded | 79.6 percent here, 20.4 percent Wabasha County |
| Dennison | city | 223 | 2 | 96.9 percent here, 3.1 percent Rice County |
| Frontenac | CDP | 188 | None recorded | Wholly in this county |
A further 2 of the county's 39 SBA 7(a) approvals are to borrowers in cities that match no Census place in Goodhue County, the largest being Nerstrand (1), North Branch (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.