Hennepin County, Minnesota: commercial real estate data.
Hennepin County, Minnesota had an estimated 1,273,334 residents on July 1, 2024, down 0.6 percent since the 2020 census base of 1,281,561, across 554 square miles. 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 since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Hennepin County
How many people live in Hennepin County
- Population, American Community Survey 2020-20241,269,496
- 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-equivalents, Puerto Rico included34th of 3,222
Hennepin County is the 1st largest of 87 Minnesota counties by population. A median home costs 4.0 times median household income, which is moderately unaffordable 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, July 1, 20241,273,334
- Census 2020 base population1,281,561
- Population change since the 2020 census base-0.64 percent
- Population change, 2023 to 202410,124
- 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 of 3,144
The county has lost 0.64 percent of its population 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.
Hennepin County
Where are people moving to Hennepin County from?
- Tax returns filed by households arriving37,118
- People arriving, from those returns55,673
- Tax returns filed by households leaving43,244
- Net household movement-6,126
- Adjusted gross income arriving$2.88 bn
- Net adjusted gross income movement$-1.63 bn
- Average income of an arriving household$77,501
- Average income of a leaving household$104,258
- Largest single originRamsey County (6,135 households)
- Largest single destinationRamsey County (6,163 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Ramsey County | 6,135 | 9,014 | $372.2 m |
| Anoka County | 3,386 | 5,622 | $202.7 m |
| Dakota County | 3,257 | 4,830 | $222.9 m |
| Scott County | 1,123 | 1,736 | $83.1 m |
| Washington County | 1,107 | 1,491 | $78.7 m |
| Carver County | 1,076 | 1,806 | $130.1 m |
| Wright County | 1,003 | 1,623 | $68.7 m |
| Cook County | 680 | 1,015 | $72.8 m |
Households arriving report $26,757 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Ramsey 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.
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 the Minnesota areas BEA publishes1st of 87
- Rank by GDP among the US county areas BEA publishes18th of 3,127
- 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
Employment by industry in Hennepin County
- Covered employment, annual average917,117
- Establishments reporting44,785
- Average annual pay$90,157
- Average weekly wage$1,734
- Health care and social assistance, employment152,262
- Health care and social assistance, average annual pay$68,137
- Professional, scientific and technical services, employment90,995
- Professional, scientific and technical services, average annual pay$134,844
- Manufacturing, employment75,553
- Manufacturing, average annual pay$94,542
- Finance and insurance, employment69,484
- Finance and insurance, average annual pay$165,586
- Retail trade, employment67,469
- Accommodation and food services, employment65,586
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 152,262 | 6,253 | $68,137 |
| Professional, scientific and technical services | 90,995 | 7,082 | $134,844 |
| Manufacturing | 75,553 | 1,735 | $94,542 |
| Finance and insurance | 69,484 | 2,749 | $165,586 |
| Retail trade | 67,469 | 3,668 | $46,382 |
| Accommodation and food services | 65,586 | 3,070 | $32,859 |
| Management of companies and enterprises | 51,998 | 660 | $143,235 |
| Administrative and support and waste management services | 48,391 | 2,180 | $57,360 |
Health care and social assistance is the largest private sector at 152,262 jobs, 16.6 percent of covered employment.
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. 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.
Hennepin County
Building permits in Hennepin County
- Housing units authorized by permit, 20243,919
- Declared construction value permitted$1.38 bn
- Single family units authorized2,054
- Multifamily units authorized1,865
- Multifamily share of units47.6 percent
- Average declared value per unit$353,245
- Units authorized per 1,000 households7.3
Multifamily is 47.6 percent of units authorized, 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$1,162,600
- 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$522,500
- Distinct CDCs active7
- 504 jobs per approval13.4
- 504 jobs per million dollars approved16.7
- Most active CDCTwin Cities-Metro Certified Development Company (344)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$2.01 bn
The average approval of $445,110 sits well above the median of $175,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here 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
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.
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
- Borrower cities with recorded lending72
- Minneapolis, approvals1,510
- Maple Grove, approvals199
- Eden Prairie, approvals169
- Hopkins, approvals121
- Plymouth, approvals106
- Minnetonka, approvals92
| Borrower city | 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 |
| 64 other borrower cities | 631 | $297,216,300 |
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.
Hennepin County
Flood risk in Hennepin County
- Communities in the county in the NFIP Community Status Book45
- Of those, participating in the NFIP45
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 6
- Communities carrying a CRS class2
- Radon levels in Hennepin County, EPA zone predicted average indoor radon screening level greater than 4 pCi/LZone 1
The EPA places Hennepin 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 6, which carries a flood insurance premium discount for policies written in that community. 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 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.
- Population, American Community Survey 2020-20241,269,496
- 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?
The Census Bureau estimates 1,273,334 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 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 of 1,281,561, to 1,273,334 on July 1, 2024. 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 employment by industry in Hennepin County?
Health care and social assistance is the largest private sector at 152,262 jobs, 16.6 percent of covered employment. Covered employment averages 917,117 jobs at an average annual pay of $90,157, or $1,734 a week. 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 totaling $1.33 bn since FY2020, across 155 lenders, with a median approval of $175,000, plus 846 504 approvals worth $676.5 m since FY2010. 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 authorized 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 Ramsey County, with 6,135 households. Arriving households report an average income of $77,501 against $104,258 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?
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.
Hennepin County
Cities and places in Hennepin.
44 Census places lie wholly or partly in Hennepin County. All 44 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 |
|---|---|---|---|---|
| Minneapolis | city | 427,246 | 1,510 | Wholly in this county |
| Bloomington | city | 88,665 | 85 | Wholly in this county |
| Brooklyn Park | city | 83,876 | 54 | Wholly in this county |
| Plymouth | city | 79,220 | 106 | Wholly in this county |
| Maple Grove | city | 71,173 | 199 | Wholly in this county |
| Eden Prairie | city | 63,051 | 169 | Wholly in this county |
| Edina | city | 53,262 | 84 | 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 | 121 | Wholly in this county |
| Robbinsdale | city | 14,234 | 6 | Wholly in this county |
| Rogers | city | 13,685 | 72 | 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 | 2 | 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 | 3 | 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 | None recorded | 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 | 43 | Wholly in this county |
| St. Bonifacius | city | 1,997 | 4 | 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 68 of the county's 2,997 SBA 7(a) approvals are to borrowers in cities that match no Census place in Hennepin County, the largest being Hamel (22), Saint Paul (4), Rockville (3). 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.
Nearby