HomeMinnesotaLake of the Woods County
Lake of the Woods County, Minnesota: commercial real estate data.
Lake of the Woods County, Minnesota had an estimated 3,797 residents on July 1, 2024, up 0.7 percent since the 2020 census base of 3,769, across 1,298 square miles. County output reached $242.0 m in 2024, 154 establishments operate here, and the SBA record carries 13 7(a) approvals worth $6.8 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Lake of the Woods County
How many people live in Lake of the Woods County
- Population, American Community Survey 2020-20243,821
- Households1,817
- Average household size2.10
- Median household income$77,546
- Median age50.7
- Median gross rent$955 per month
- Median owner-occupied home value$216,100
- Home value to household income2.8 times
- Annual rent as a share of median income14.8 percent
- Adults 25 and over with a bachelor degree or higher25.4 percent
- Adults 25 and over with a graduate degree7.2 percent
- Adults 25 and over2,887
- Population under 18704
- Share under 1818.4 percent
- Population 65 and over1,026
- Share 65 and over26.9 percent
- Working age population, 18 to 642,091
- Civilian labor force2,111
- Unemployment rate1.5 percent
- Labor force participation, adults 18 and over67.7 percent
- Rank by population among Minnesota counties86th of 87
- Rank by population among US county-equivalents, Puerto Rico included2976th of 3,222
Lake of the Woods County is the 86th largest of 87 Minnesota counties by population. A median home costs 2.8 times median household income, which is affordable by national standards. Residents 65 and over outnumber those under 18, at 26.9 percent against 18.4 percent, which points demand at health care, services and single story product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Lake of the Woods County
Is Lake of the Woods County's population growing?
- Population, July 1, 20243,797
- Census 2020 base population3,769
- Population change since the 2020 census base0.74 percent
- Population change, 2023 to 2024-7
- Births, 202442
- Deaths, 202452
- Natural change, 2024-10
- Net domestic migration, 20241
- Net international migration, 20241
- Total net migration, 20242
- Cumulative net domestic migration, 2021 to 202444
- Rank by growth among US county-equivalents1577th of 3,144
The county has grown 0.74 percent since the 2020 census base. Deaths exceeded births in 2024 by more than net migration added, so the population fell even though more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Lake of the Woods County
Where are people moving to Lake of the Woods County from?
- Tax returns filed by households arriving79
- People arriving, from those returns122
- Tax returns filed by households leaving93
- Net household movement-14
- Adjusted gross income arriving$4.6 m
- Net adjusted gross income movement$-188,000
- Average income of an arriving household$58,089
- Average income of a leaving household$51,366
- Largest single destinationRoseau County (21 households)
| Origin | Households | People | Adjusted gross income |
|---|
Households arriving report $6,723 more average income than households leaving, so the migration is raising local spending power rather than just moving it around.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Lake of the Woods County
What is the Lake of the Woods County economy?
- County GDP, 2024$242.0 m
- County GDP, 2023$224.9 m
- GDP change, 2023 to 20247.6 percent
- GDP change over five years18.3 percent
- Rank by GDP among the Minnesota areas BEA publishes86th of 87
- Rank by GDP among the US county areas BEA publishes2816th of 3,127
- GDP per resident$63,329
Output grew 7.6 percent in the latest year and 18.3 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.
Lake of the Woods County
Employment by industry in Lake of the Woods County
- Covered employment, annual average1,578
- Establishments reporting185
- Average annual pay$54,228
- Average weekly wage$1,043
- Accommodation and food services, employment417
- Accommodation and food services, average annual pay$27,541
- Retail trade, employment187
- Retail trade, average annual pay$31,280
- Health care and social assistance, employment144
- Health care and social assistance, average annual pay$63,860
- Arts, entertainment and recreation, employment61
- Arts, entertainment and recreation, average annual pay$25,178
- Other services, except public administration, employment53
- Wholesale trade, employment26
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Accommodation and food services | 417 | 41 | $27,541 |
| Retail trade | 187 | 20 | $31,280 |
| Health care and social assistance | 144 | 26 | $63,860 |
| Arts, entertainment and recreation | 61 | 12 | $25,178 |
| Other services, except public administration | 53 | 12 | $15,411 |
| Wholesale trade | 26 | 3 | $72,079 |
| Information | 10 | 3 | $26,789 |
Accommodation and food services is the largest private sector at 417 jobs, 26.4 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Lake of the Woods County
How many businesses are in Lake of the Woods County?
- Establishments, all industries154
- Employment at those establishments1,352
- Annual payroll$89.2 m
- Establishments per 1,000 residents40.3
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.
Lake of the Woods County
Building permits in Lake of the Woods County
- Housing units authorized by permit, 202413
- Declared construction value permitted$4.2 m
- Single family units authorized13
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$320,650
- Units authorized per 1,000 households7.2
Single-family homes are 100.0 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Lake of the Woods County
SBA loans in Lake of the Woods County (7(a) and 504)
- 7(a) approvals recorded13
- 7(a) gross approval dollars$6.8 m
- Average 7(a) approval$526,300
- Median 7(a) approval$160,000
- Largest single approval$3,000,000
- Jobs reported supported, 7(a)248
- Jobs per approval19.1
- Distinct 7(a) lenders active7
- Distinct industries receiving approvals8
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer38.5 percent
- Loans on real estate terms5
- Loans on working capital terms, 120 months or shorter8
- Franchise loans0
- Franchise share of approvals0.0 percent
- Most active lenderUltima Bank Minnesota (7)
- 504 approvals recorded15
- 504 gross approval dollars$9.4 m
- Average 504 approval$628,067
- Median 504 approval$555,000
- Distinct CDCs active2
- 504 jobs per approval5.2
- 504 jobs per million dollars approved8.3
- Most active CDCMidwest Business Finance Corporation (14)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$16.3 m
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.
Lake of the Woods County
SBA loan default and charge-off rates in Lake of the Woods County
Do SBA loans in Lake of the Woods County get paid back?
- Loans with a final outcome recorded4
- Paid in full4
- Charged off0
- Status: Cancelled1
- Status: Exempt from disclosure8
- Status: Paid in full4
Only 4 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.
Lake of the Woods County
SBA lending by place in Lake of the Woods County
- Borrower cities with recorded lending3
- Baudette, approvals10
- Oak Island, approvals2
- Williams, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Baudette | 10 | $5,626,900 |
| Oak Island | 2 | $1,200,000 |
| Williams | 1 | $15,000 |
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lake of the Woods County
How large is Lake of the Woods County?
- Land area1,298 sq mi
- Rank by land area among Minnesota counties16th of 87
- Width, east to west41.5 mi
- Height, north to south70.3 mi
- Geographies sharing a boundary3
- Residents per square mile of land3
- Establishments per square mile0.12
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.
Lake of the Woods County
Flood risk in Lake of the Woods County
- Participation of the county's own NFIP community Lake of the Woods County, unincorporated areasParticipating, community 270654
- Communities in the county in the NFIP Community Status Book4
- Of those, participating in the NFIP3
- NFIP participation rate75.0 percent
- Communities carrying a CRS class0
- Radon levels in Lake of the Woods County, EPA zone predicted average indoor radon screening level from 2 to 4 pCi/LZone 2
The county's own community in the status book, unincorporated Lake of the Woods County (community 270654), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Lake of the Woods County in radon zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. 75.0 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 Lake of the Woods 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 Lake of the Woods County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-20243,821
- Households1,817
- Average household size2.10
- Median household income$77,546
- Median age50.7
Common questions
Lake of the Woods County questions, answered from the record.
How many people live in Lake of the Woods County, Minnesota?
The Census Bureau estimates 3,797 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 3,821, in 1,817 households, ranking 86th of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Lake of the Woods County's population growing?
The population has grown 0.74 percent since the 2020 census base of 3,769, to 3,797 on July 1, 2024. In 2024 there were 42 births against 52 deaths, with net migration of 2. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Lake of the Woods County?
$77,546. The median owner-occupied home is valued at $216,100, which is 2.8 times income, and median gross rent is $955 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Lake of the Woods County?
154 establishments, employing 1,352 people with an annual payroll of $89.2 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Lake of the Woods County?
Accommodation and food services is the largest private sector at 417 jobs, 26.4 percent of covered employment. Covered employment averages 1,578 jobs at an average annual pay of $54,228, or $1,043 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Lake of the Woods County?
13 7(a) approvals totaling $6.8 m since FY2020, across 7 lenders, with a median approval of $160,000, plus 15 504 approvals worth $9.4 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Lake of the Woods County?
13 housing units were authorized by permit in 2024, with a declared construction value of $4.2 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Lake of the Woods County?
Zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Are traffic counts available for Lake of the Woods 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 Lake of the Woods 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.
Lake of the Woods County
Cities and places in Lake of the Woods.
4 Census places lie wholly or partly in Lake of the Woods County. All 4 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 |
|---|---|---|---|---|
| Baudette | city | 1,139 | 10 | Wholly in this county |
| Williams | city | 237 | 1 | Wholly in this county |
| Roosevelt | city | 150 | None recorded | 2.5 percent here, 97.5 percent Roseau County |
| Angle Inlet | CDP | 0 | None recorded | Wholly in this county |
A further 2 of the county's 13 SBA 7(a) approvals are to borrowers in cities that match no Census place in Lake of the Woods County, the largest being Oak Island (2). 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