Hennepin County, Minnesota: commercial real estate data.
Hennepin County, Minnesota has a population of 1,269,496 across 554 square miles, down 0.6 percent since the 2020 census base. County output reached $193.62 bn in 2024, 40,486 establishments operate here, and the SBA record carries 2,997 7(a) approvals worth $1.33 bn.
123 sourced county values · tier FULL · 11 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Hennepin County
How many people live in Hennepin County
- Population1,269,496
- Households539,493
- Average household size2.35
- Median household income$97,653
- Median age37.6
- Median gross rent$1,487 per month
- Median owner-occupied home value$392,900
- Home value to household income4.0 times
- Annual rent as a share of median income18.3 percent
- Adults 25 and over with a bachelor degree or higher54.1 percent
- Adults 25 and over with a graduate degree20.3 percent
- Adults 25 and over888,421
- Population under 18274,248
- Share under 1821.6 percent
- Population 65 and over198,051
- Share 65 and over15.6 percent
- Working age population, 18 to 64797,197
- Civilian labor force730,534
- Unemployment rate4.5 percent
- Labor force participation, adults 18 and over73.4 percent
- Rank by population among Minnesota counties1st of 87
- Rank by population among US county-equivalents34th
Hennepin County is the 1st largest of 87 Minnesota counties by population. A median home costs 4.0 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 21.6 percent against 15.6 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Hennepin County
Is Hennepin County's population growing?
- Population change since the 2020 census base-0.64 percent
- Census 2020 base population1,281,561
- Births, 202414,290
- Deaths, 20249,585
- Natural change, 20244,705
- Net domestic migration, 2024-4,629
- Net international migration, 202410,022
- Total net migration, 20245,393
- Cumulative net domestic migration, 2021 to 2024-53,875
- Rank by growth among US county-equivalents2068th
The county has lost 0.64 percent of its population since the 2020 census base. Migration contributed more to 2024 change than births over deaths, so demand here follows people arriving rather than families forming.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Hennepin County
Where are people moving to Hennepin County from?
- Tax returns filed by households arriving37,118
- People arriving, from those returns55,673
- Adjusted gross income arriving$2.88 bn
- Net adjusted gross income movement$0
- Average income of an arriving household$77,501
- Largest single originHennepin County Non-migrants (507,965 households)
- Largest single destination (507,965 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Hennepin County Non-migrants | 507,965 | 966,610 | $68.77 bn |
| Ramsey County | 6,135 | 9,014 | $372.2 m |
| Other flows - Different State | 4,114 | 6,301 | $316.2 m |
| Anoka County | 3,386 | 5,622 | $202.7 m |
| Dakota County | 3,257 | 4,830 | $222.9 m |
| Other flows - South | 1,414 | 2,312 | $109.9 m |
| Other flows - Midwest | 1,390 | 2,001 | $90.3 m |
| Scott County | 1,123 | 1,736 | $83.1 m |
The largest single source of arrivals is Hennepin 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.
Hennepin County
What is the Hennepin County economy?
- County GDP, 2024$193.62 bn
- County GDP, 2023$184.18 bn
- GDP change, 2023 to 20245.1 percent
- GDP change over five years34.1 percent
- Rank by GDP among Minnesota counties1st
- Rank by GDP among US county-equivalents18th
- GDP per resident$152,515
Output grew 5.1 percent in the latest year and 34.1 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.
Hennepin County
Largest employers in Hennepin County
- Covered employment, annual average917,117
- Establishments reporting44,785
- Average annual pay$90,157
- Average weekly wage$1,734
- Sector 62, employment152,262
- Sector 62, average annual pay$68,137
- Sector 54, employment90,995
- Sector 54, average annual pay$134,844
- Sector 31-33, employment75,553
- Sector 31-33, average annual pay$94,542
- Sector 52, employment69,484
- Sector 52, average annual pay$165,586
- Sector 44-45, employment67,469
- Sector 72, employment65,586
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 152,262 | 6,253 | $68,137 |
| Sector 54 | 90,995 | 7,082 | $134,844 |
| Sector 31-33 | 75,553 | 1,735 | $94,542 |
| Sector 52 | 69,484 | 2,749 | $165,586 |
| Sector 44-45 | 67,469 | 3,668 | $46,382 |
| Sector 72 | 65,586 | 3,070 | $32,859 |
| Sector 55 | 51,998 | 660 | $143,235 |
| Sector 56 | 48,391 | 2,180 | $57,360 |
The largest sector is the biggest private employer group at 152,262 jobs, 16.6 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.
Hennepin County
How many businesses are in Hennepin County?
- Establishments, all industries40,486
- Employment at those establishments939,201
- Annual payroll$78.00 bn
- Establishments per 1,000 residents31.9
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.
Hennepin County
Building permits in Hennepin County
- Housing units authorised by permit, 20243,919
- Declared construction value permitted$1.38 bn
- Single family units authorised2,054
- Multifamily units authorised1,865
- Multifamily share of units47.6 percent
- Average declared value per unit$353,245
- Units authorised per 1,000 households7.3
Multifamily is 47.6 percent of units authorised, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Hennepin County
SBA loans in Hennepin County (7(a) and 504)
- 7(a) approvals recorded2,997
- 7(a) gross approval dollars$1.33 bn
- Average 7(a) approval$445,110
- Median 7(a) approval$175,000
- 10th percentile approval$25,000
- 90th percentile approval$1,163,500
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)40,169
- Jobs per approval13.4
- Distinct 7(a) lenders active155
- Distinct industries receiving approvals443
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer6.2 percent
- Loans on real estate terms185
- Loans on working capital terms, 120 months or shorter2,674
- Franchise loans303
- Franchise share of approvals10.1 percent
- Leading industry by approval countFull-Service Restaurants (135)
- Most active lenderU.S. Bank, National Association (462)
- 504 approvals recorded846
- 504 gross approval dollars$676.5 m
- Average 504 approval$799,684
- Median 504 approval$523,000
- Distinct CDCs active7
- 504 jobs per approval13.4
- 504 jobs per million dollars approved16.7
- Most active CDCTwin Cities-Metro Certified Development Company (344)
- 7(a) share of SBA approvals78.0 percent
- Combined SBA approval dollars$2.01 bn
The average approval of $445,110 sits well above the median of $175,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 6.2 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.
Hennepin County
SBA loan default and charge-off rates in Hennepin County
Do SBA loans in Hennepin County get paid back?
- Loans with a final outcome recorded706
- Paid in full653
- Charged off53
- Charge off rate on resolved loans7.5 percent
- Status: Exempt from disclosure1,819
- Status: Paid in full653
- Status: Charged off53
- Status: Cancelled308
- Status: Committed, not yet disbursed164
| NAICS | Industry | Resolved loans | Charged off | Charge off rate |
|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 22 | 4 | 18.2% |
| 722513 | Limited-Service Restaurants | 19 | 5 | 26.3% |
| 238990 | All Other Specialty Trade Contractors | 17 | 0 | 0.0% |
| 621310 | Offices of Chiropractors | 16 | 2 | 12.5% |
| 561730 | Landscaping Services | 16 | 1 | 6.3% |
| 236118 | Residential Remodelers | 15 | 1 | 6.7% |
| 713940 | Fitness and Recreational Sports Centers | 14 | 2 | 14.3% |
| 541990 | All Other Professional, Scientific, and Technical Services | 13 | 0 | 0.0% |
Of the 706 loans that have reached a final outcome, 7.5 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. Among industries with at least ten resolved loans, Limited-Service Restaurants carries the highest charge off rate at 26.3 percent.
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.
Hennepin County
SBA lending by place in Hennepin County
- Places in the county with recorded lending74
- MINNEAPOLIS, approvals1,510
- Maple Grove, approvals199
- EDEN PRAIRIE, approvals169
- HOPKINS, approvals121
- PLYMOUTH, approvals106
- Minnetonka, approvals92
| Place | Approvals | Gross approval dollars |
|---|---|---|
| MINNEAPOLIS | 1,510 | $651,625,000 |
| Maple Grove | 199 | $81,683,500 |
| EDEN PRAIRIE | 169 | $100,613,100 |
| HOPKINS | 121 | $47,413,000 |
| PLYMOUTH | 106 | $44,933,400 |
| Minnetonka | 92 | $36,839,300 |
| Bloomington | 85 | $35,006,600 |
| Edina | 84 | $38,664,400 |
MINNEAPOLIS accounts for 1,510 approvals against 199 in Maple Grove. 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.
Hennepin County
How large is Hennepin County?
- Land area554 sq mi
- Rank by land area among Minnesota counties60th of 87
- Width, east to west28.8 mi
- Height, north to south31.5 mi
- Geographies sharing a boundary7
- Residents per square mile of land2,292
- Establishments per square mile73.08
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 Hennepin 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 Hennepin County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population1,269,496
- Households539,493
- Average household size2.35
- Median household income$97,653
- Median age37.6
Common questions
Hennepin County questions, answered from the record.
How many people live in Hennepin County, Minnesota?
1,269,496, in 539,493 households, ranking 1st of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Hennepin County's population growing?
The population has fallen 0.64 percent since the 2020 census base. In 2024 there were 14,290 births against 9,585 deaths, with net migration of 5,393. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Hennepin County?
$97,653. The median owner-occupied home is valued at $392,900, which is 4.0 times income, and median gross rent is $1,487 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Hennepin County?
40,486 establishments, employing 939,201 people with an annual payroll of $78.00 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Hennepin County?
Average annual pay is $90,157, or $1,734 a week, across 917,117 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Hennepin County?
2,997 7(a) approvals totalling $1.33 bn since FY2020, across 155 lenders, with a median approval of $175,000, plus 846 504 approvals worth $676.5 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Hennepin County get paid back?
Of the 706 loans that have reached a final outcome, 653 were paid in full and 53 charged off, a charge off rate of 7.5 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Hennepin County?
3,919 housing units were authorised by permit in 2024, with a declared construction value of $1.38 bn. Multifamily was 47.6 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Hennepin 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 Hennepin County come from?
The largest single origin is Hennepin County Non-migrants, with 507,965 households. Arriving households report an average income of $77,501 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 Hennepin 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 Hennepin 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.
Hennepin County
Cities and places in Hennepin.
44 Census places lie wholly or partly in Hennepin County. 44 carry enough published place level data for a page of their own and are linked. The rest are named here and not linked, because the American Community Survey and the SBA record between them do not carry enough about them to write an honest page. A place existing is itself worth knowing, so nothing in the county is left out.
| Place | Type | Population | SBA approvals | Lies in |
|---|---|---|---|---|
| Minneapolis | city | 427,246 | 1,714 | Wholly in this county |
| Bloomington | city | 88,665 | 85 | Wholly in this county |
| Brooklyn Park | city | 83,876 | 55 | Wholly in this county |
| Plymouth | city | 79,220 | 106 | Wholly in this county |
| Maple Grove | city | 71,173 | 202 | Wholly in this county |
| Eden Prairie | city | 63,051 | 170 | Wholly in this county |
| Edina | city | 53,262 | 85 | Wholly in this county |
| Minnetonka | city | 53,064 | 92 | Wholly in this county |
| St. Louis Park | city | 49,594 | 51 | Wholly in this county |
| Richfield | city | 36,642 | 11 | Wholly in this county |
| Brooklyn Center | city | 32,479 | 27 | Wholly in this county |
| Champlin | city | 23,294 | 41 | Wholly in this county |
| Crystal | city | 22,476 | 8 | Wholly in this county |
| Golden Valley | city | 21,725 | 33 | Wholly in this county |
| New Hope | city | 21,181 | 22 | Wholly in this county |
| Hopkins | city | 18,819 | 122 | Wholly in this county |
| Robbinsdale | city | 14,234 | 6 | Wholly in this county |
| Rogers | city | 13,685 | 73 | Wholly in this county |
| St. Anthony | city | 9,671 | 7 | 71.6 percent here, 28.4 percent Ramsey County |
| Mound | city | 9,107 | 18 | Wholly in this county |
| Dayton | city | 9,095 | 8 | Wholly in this county |
| Minnetrista | city | 8,708 | 15 | Wholly in this county |
| Orono | city | 8,195 | 2 | Wholly in this county |
| Shorewood | city | 7,647 | 4 | Wholly in this county |
| Corcoran | city | 7,302 | 7 | Wholly in this county |
| Medina | city | 6,968 | 6 | Wholly in this county |
| Rockford | city | 4,597 | 6 | 11.3 percent here, 88.7 percent Wright County |
| Wayzata | city | 4,354 | 49 | Wholly in this county |
| Deephaven | city | 3,793 | 1 | Wholly in this county |
| Independence | city | 3,694 | None recorded | Wholly in this county |
| Hanover | city | 3,626 | 6 | 37.6 percent here, 62.4 percent Wright County |
| Greenfield | city | 2,894 | 1 | Wholly in this county |
| Osseo | city | 2,584 | 35 | Wholly in this county |
| Excelsior | city | 2,570 | 46 | Wholly in this county |
| St. Bonifacius | city | 1,997 | 5 | Wholly in this county |
| Spring Park | city | 1,896 | 5 | Wholly in this county |
| Long Lake | city | 1,728 | 17 | Wholly in this county |
| Maple Plain | city | 1,701 | 10 | Wholly in this county |
| Tonka Bay | city | 1,270 | None recorded | Wholly in this county |
| Loretto | city | 784 | 5 | Wholly in this county |
| Greenwood | city | 699 | None recorded | Wholly in this county |
| Medicine Lake | city | 596 | None recorded | Wholly in this county |
| Woodland | city | 477 | None recorded | Wholly in this county |
| Village of Minnetonka Beach | city | 469 | None recorded | Wholly in this county |
A further 56 SBA approvals in Hennepin County are recorded against borrower cities that match no Census place, the largest being Hamel, Brooklyn Ctr, Colorado Springs. Those are postal cities and unincorporated areas rather than incorporated places, so no page claims them, and their lending is counted in this county's totals above rather than under any city.