Martin County, Minnesota: commercial real estate data.
Martin County, Minnesota had an estimated 19,561 residents on July 1, 2024, down 2.3 percent since the 2020 census base of 20,031, across 712 square miles. County output reached $1.43 bn in 2024, 597 establishments operate here, and the SBA record carries 17 7(a) approvals worth $2.5 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Martin County
How many people live in Martin County
- Population, American Community Survey 2020-202419,780
- Households8,839
- Average household size2.24
- Median household income$59,507
- Median age43.9
- Median gross rent$761 per month
- Median owner-occupied home value$163,500
- Home value to household income2.7 times
- Annual rent as a share of median income15.3 percent
- Adults 25 and over with a bachelor degree or higher23.8 percent
- Adults 25 and over with a graduate degree7.4 percent
- Adults 25 and over14,004
- Population under 184,515
- Share under 1822.8 percent
- Population 65 and over4,866
- Share 65 and over24.6 percent
- Working age population, 18 to 6410,399
- Civilian labor force9,889
- Unemployment rate4.2 percent
- Labor force participation, adults 18 and over64.8 percent
- Rank by population among Minnesota counties49th of 87
- Rank by population among US county-equivalents, Puerto Rico included1899th of 3,222
Martin County is the 49th largest of 87 Minnesota counties by population. A median home costs 2.7 times median household income, which is affordable by national standards. Residents 65 and over outnumber those under 18, at 24.6 percent against 22.8 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.
Martin County
Is Martin County's population growing?
- Population, July 1, 202419,561
- Census 2020 base population20,031
- Population change since the 2020 census base-2.35 percent
- Population change, 2023 to 2024-167
- Births, 2024219
- Deaths, 2024280
- Natural change, 2024-61
- Net domestic migration, 2024-126
- Net international migration, 202421
- Total net migration, 2024-105
- Cumulative net domestic migration, 2021 to 2024-262
- Rank by growth among US county-equivalents2577th of 3,144
The county has lost 2.35 percent of its population 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.
Martin County
Where are people moving to Martin County from?
- Tax returns filed by households arriving360
- People arriving, from those returns616
- Tax returns filed by households leaving398
- Net household movement-38
- Adjusted gross income arriving$18.3 m
- Net adjusted gross income movement$-5.9 m
- Average income of an arriving household$50,911
- Average income of a leaving household$60,827
- Largest single originFaribault County (30 households)
- Largest single destinationFaribault County (37 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Faribault County | 30 | 59 | $1.3 m |
Households arriving report $9,916 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Faribault 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.
Martin County
What is the Martin County economy?
- County GDP, 2024$1.43 bn
- County GDP, 2023$1.26 bn
- GDP change, 2023 to 202413.6 percent
- GDP change over five years41.5 percent
- Rank by GDP among the Minnesota areas BEA publishes43rd of 87
- Rank by GDP among the US county areas BEA publishes1556th of 3,127
- GDP per resident$72,228
Output grew 13.6 percent in the latest year and 41.5 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.
Martin County
Employment by industry in Martin County
- Covered employment, annual average8,245
- Establishments reporting705
- Average annual pay$53,706
- Average weekly wage$1,033
- Retail trade, employment1,091
- Retail trade, average annual pay$32,784
- Manufacturing, employment920
- Manufacturing, average annual pay$66,994
- Accommodation and food services, employment776
- Accommodation and food services, average annual pay$17,314
- Wholesale trade, employment755
- Wholesale trade, average annual pay$109,833
- Agriculture, forestry, fishing and hunting, employment438
- Finance and insurance, employment422
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Retail trade | 1,091 | 72 | $32,784 |
| Manufacturing | 920 | 34 | $66,994 |
| Accommodation and food services | 776 | 47 | $17,314 |
| Wholesale trade | 755 | 35 | $109,833 |
| Agriculture, forestry, fishing and hunting | 438 | 62 | $44,669 |
| Finance and insurance | 422 | 48 | $80,886 |
| Construction | 267 | 48 | $62,704 |
| Other services, except public administration | 233 | 58 | $31,476 |
Retail trade is the largest private sector at 1,091 jobs, 13.2 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Martin County
How many businesses are in Martin County?
- Establishments, all industries597
- Employment at those establishments7,402
- Annual payroll$420.5 m
- Establishments per 1,000 residents30.2
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.
Martin County
Building permits in Martin County
- Housing units authorized by permit, 202427
- Declared construction value permitted$8.4 m
- Single family units authorized23
- Multifamily units authorized4
- Multifamily share of units14.8 percent
- Average declared value per unit$309,425
- Units authorized per 1,000 households3.1
Single-family homes are 85.2 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Martin County
SBA loans in Martin County (7(a) and 504)
- 7(a) approvals recorded17
- 7(a) gross approval dollars$2.5 m
- Average 7(a) approval$148,453
- Median 7(a) approval$92,900
- Largest single approval$622,000
- Jobs reported supported, 7(a)62
- Jobs per approval3.6
- Distinct 7(a) lenders active7
- Distinct industries receiving approvals14
- Median 7(a) term84 months
- Share of loans on real estate terms, 240 months or longer5.9 percent
- Loans on real estate terms1
- Loans on working capital terms, 120 months or shorter13
- Franchise loans1
- Franchise share of approvals5.9 percent
- Most active lenderWelcome State Bank (10)
- 504 approvals recorded14
- 504 gross approval dollars$10.0 m
- Average 504 approval$714,857
- Median 504 approval$501,000
- Distinct CDCs active5
- 504 jobs per approval6.6
- 504 jobs per million dollars approved9.2
- Most active CDCMidwest Business Finance Corporation (8)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$12.5 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.
Martin County
SBA loan default and charge-off rates in Martin County
Do SBA loans in Martin County get paid back?
- Loans with a final outcome recorded6
- Paid in full6
- Charged off0
- Status: Exempt from disclosure10
- Status: Paid in full6
- Status: Committed, not yet disbursed1
Only 6 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.
Martin County
SBA lending by place in Martin County
- Borrower cities with recorded lending7
- Welcome, approvals5
- Fairmont, approvals3
- Truman, approvals3
- Sherburn, approvals3
- Trimont, approvals1
- Ceylon, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Welcome | 5 | $650,800 |
| Fairmont | 3 | $1,272,000 |
| Truman | 3 | $263,700 |
| Sherburn | 3 | $174,200 |
| Trimont | 1 | $85,000 |
| Ceylon | 1 | $50,000 |
| Granada | 1 | $28,000 |
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Martin County
How large is Martin County?
- Land area712 sq mi
- Rank by land area among Minnesota counties38th of 87
- Width, east to west30.4 mi
- Height, north to south24 mi
- Geographies sharing a boundary6
- Residents per square mile of land28
- Establishments per square mile0.84
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.
Martin County
Flood risk in Martin County
- Participation of the county's own NFIP community Martin County, unincorporated areasParticipating, community 270641
- Communities in the county in the NFIP Community Status Book4
- Of those, participating in the NFIP2
- NFIP participation rate50.0 percent
- Communities carrying a CRS class0
- Radon levels in Martin 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 Martin County (community 270641), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Martin 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. 50.0 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 Martin 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 Martin County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202419,780
- Households8,839
- Average household size2.24
- Median household income$59,507
- Median age43.9
Common questions
Martin County questions, answered from the record.
How many people live in Martin County, Minnesota?
The Census Bureau estimates 19,561 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 19,780, in 8,839 households, ranking 49th of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Martin County's population growing?
The population has fallen 2.35 percent since the 2020 census base of 20,031, to 19,561 on July 1, 2024. In 2024 there were 219 births against 280 deaths, with net migration of -105. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Martin County?
$59,507. The median owner-occupied home is valued at $163,500, which is 2.7 times income, and median gross rent is $761 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Martin County?
597 establishments, employing 7,402 people with an annual payroll of $420.5 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 Martin County?
Retail trade is the largest private sector at 1,091 jobs, 13.2 percent of covered employment. Covered employment averages 8,245 jobs at an average annual pay of $53,706, or $1,033 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Martin County?
17 7(a) approvals totaling $2.5 m since FY2020, across 7 lenders, with a median approval of $92,900, plus 14 504 approvals worth $10.0 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Martin County?
27 housing units were authorized by permit in 2024, with a declared construction value of $8.4 m. Multifamily was 14.8 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Martin 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 Martin County come from?
The largest single origin is Faribault County, with 30 households. Arriving households report an average income of $50,911 against $60,827 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Martin 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 Martin 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.
Martin County
Cities and places in Martin.
10 Census places lie wholly or partly in Martin County. All 10 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 |
|---|---|---|---|---|
| Fairmont | city | 10,296 | 3 | Wholly in this county |
| Truman | city | 1,212 | 3 | Wholly in this county |
| Sherburn | city | 1,015 | 3 | Wholly in this county |
| Welcome | city | 978 | 5 | Wholly in this county |
| Trimont | city | 546 | 1 | Wholly in this county |
| Ceylon | city | 259 | 1 | Wholly in this county |
| Granada | city | 243 | 1 | Wholly in this county |
| Northrop | city | 240 | None recorded | Wholly in this county |
| Dunnell | city | 177 | None recorded | Wholly in this county |
| Ormsby | city | 136 | None recorded | 28.4 percent here, 71.6 percent Watonwan County |