McLeod County, Minnesota: commercial real estate data.
McLeod County, Minnesota had an estimated 36,780 residents on July 1, 2024, up 0.0 percent since the 2020 census base of 36,764, across 491 square miles. County output reached $2.40 bn in 2024, 956 establishments operate here, and the SBA record carries 103 7(a) approvals worth $23.3 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
McLeod County
How many people live in McLeod County
- Population, American Community Survey 2020-202436,798
- Households15,215
- Average household size2.42
- Median household income$80,084
- Median age41.6
- Median gross rent$941 per month
- Median owner-occupied home value$246,100
- Home value to household income3.1 times
- Annual rent as a share of median income14.1 percent
- Adults 25 and over with a bachelor degree or higher20.2 percent
- Adults 25 and over with a graduate degree6.4 percent
- Adults 25 and over25,777
- Population under 188,064
- Share under 1821.9 percent
- Population 65 and over7,393
- Share 65 and over20.1 percent
- Working age population, 18 to 6421,341
- Civilian labor force20,055
- Unemployment rate3.3 percent
- Labor force participation, adults 18 and over69.8 percent
- Rank by population among Minnesota counties29th of 87
- Rank by population among US county-equivalents, Puerto Rico included1295th of 3,222
McLeod County is the 29th largest of 87 Minnesota counties by population. A median home costs 3.1 times median household income, which is moderately unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 21.9 percent against 20.1 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
McLeod County
Is McLeod County's population growing?
- Population, July 1, 202436,780
- Census 2020 base population36,764
- Population change since the 2020 census base0.04 percent
- Population change, 2023 to 2024-70
- Births, 2024409
- Deaths, 2024444
- Natural change, 2024-35
- Net domestic migration, 2024-99
- Net international migration, 202462
- Total net migration, 2024-37
- Cumulative net domestic migration, 2021 to 2024-29
- Rank by growth among US county-equivalents1811th of 3,144
The county has grown 0.04 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.
McLeod County
Where are people moving to McLeod County from?
- Tax returns filed by households arriving968
- People arriving, from those returns1,669
- Tax returns filed by households leaving1,014
- Net household movement-46
- Adjusted gross income arriving$56.3 m
- Net adjusted gross income movement$-7.0 m
- Average income of an arriving household$58,211
- Average income of a leaving household$62,439
- Largest single originCarver County (135 households)
- Largest single destinationCarver County (112 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Carver County | 135 | 254 | $9.2 m |
| Hennepin County | 108 | 187 | $9.3 m |
| Meeker County | 94 | 150 | $4.9 m |
| Wright County | 86 | 142 | $4.7 m |
| Sibley County | 45 | 89 | $2.2 m |
| Scott County | 32 | 59 | $2.0 m |
| Renville County | 27 | 48 | $1.6 m |
| Dakota County | 25 | 39 | $1.5 m |
Households arriving report $4,228 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Carver 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.
McLeod County
What is the McLeod County economy?
- County GDP, 2024$2.40 bn
- County GDP, 2023$2.30 bn
- GDP change, 2023 to 20244.2 percent
- GDP change over five years33.3 percent
- Rank by GDP among the Minnesota areas BEA publishes28th of 87
- Rank by GDP among the US county areas BEA publishes1129th of 3,127
- GDP per resident$65,127
Output grew 4.2 percent in the latest year and 33.3 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.
McLeod County
Employment by industry in McLeod County
- Covered employment, annual average15,697
- Establishments reporting1,049
- Average annual pay$56,991
- Average weekly wage$1,096
- Manufacturing, employment4,375
- Manufacturing, average annual pay$78,283
- Health care and social assistance, employment2,550
- Health care and social assistance, average annual pay$56,692
- Retail trade, employment1,962
- Retail trade, average annual pay$31,000
- Accommodation and food services, employment1,094
- Accommodation and food services, average annual pay$20,085
- Construction, employment519
- Administrative and support and waste management services, employment439
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Manufacturing | 4,375 | 88 | $78,283 |
| Health care and social assistance | 2,550 | 141 | $56,692 |
| Retail trade | 1,962 | 127 | $31,000 |
| Accommodation and food services | 1,094 | 65 | $20,085 |
| Construction | 519 | 119 | $71,159 |
| Administrative and support and waste management services | 439 | 43 | $52,863 |
| Other services, except public administration | 421 | 104 | $34,523 |
| Finance and insurance | 386 | 76 | $72,994 |
Manufacturing is the largest private sector at 4,375 jobs, 27.9 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
McLeod County
How many businesses are in McLeod County?
- Establishments, all industries956
- Employment at those establishments14,890
- Annual payroll$783.3 m
- Establishments per 1,000 residents26.0
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.
McLeod County
Building permits in McLeod County
- Housing units authorized by permit, 202450
- Declared construction value permitted$18.9 m
- Single family units authorized50
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$377,595
- Units authorized per 1,000 households3.3
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.
McLeod County
SBA loans in McLeod County (7(a) and 504)
- 7(a) approvals recorded103
- 7(a) gross approval dollars$23.3 m
- Average 7(a) approval$226,004
- Median 7(a) approval$80,000
- 10th percentile approval$21,800
- 90th percentile approval$500,000
- Largest single approval$2,034,000
- Jobs reported supported, 7(a)992
- Jobs per approval9.6
- Distinct 7(a) lenders active17
- Distinct industries receiving approvals61
- Median 7(a) term84 months
- Share of loans on real estate terms, 240 months or longer7.8 percent
- Loans on real estate terms8
- Loans on working capital terms, 120 months or shorter87
- Franchise loans4
- Franchise share of approvals3.9 percent
- Leading industry by approval countFull-Service Restaurants (6)
- Most active lenderCitizens Bank & Trust Co (72)
- 504 approvals recorded60
- 504 gross approval dollars$23.3 m
- Average 504 approval$388,117
- Median 504 approval$214,000
- Distinct CDCs active5
- 504 jobs per approval5.2
- 504 jobs per million dollars approved13.4
- Most active CDCMidwest Business Finance Corporation (45)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$46.6 m
The average approval of $226,004 sits well above the median of $80,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 7.8 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.
McLeod County
SBA loan default and charge-off rates in McLeod County
Do SBA loans in McLeod County get paid back?
- Loans with a final outcome recorded27
- Paid in full26
- Charged off1
- Status: Exempt from disclosure61
- Status: Charged off1
- Status: Paid in full26
- Status: Cancelled13
- Status: Committed, not yet disbursed2
Only 27 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.
McLeod County
SBA lending by place in McLeod County
- Borrower cities with recorded lending7
- Hutchinson, approvals81
- Glencoe, approvals11
- Lester Prairie, approvals7
- Plato, approvals1
- Winsted, approvals1
- Stewart, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Hutchinson | 81 | $18,579,400 |
| Glencoe | 11 | $1,991,400 |
| Lester Prairie | 7 | $470,600 |
| Plato | 1 | $2,034,000 |
| Winsted | 1 | $98,000 |
| Stewart | 1 | $75,000 |
| Silver Lake | 1 | $30,000 |
Hutchinson accounts for 81 approvals against 11 in Glencoe. 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.
McLeod County
How large is McLeod County?
- Land area491 sq mi
- Rank by land area among Minnesota counties69th of 87
- Width, east to west24.1 mi
- Height, north to south24.2 mi
- Geographies sharing a boundary5
- Residents per square mile of land75
- Establishments per square mile1.95
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.
McLeod County
Flood risk in McLeod County
- Participation of the county's own NFIP community McLeod County, unincorporated areasParticipating, community 270616
- Communities in the county in the NFIP Community Status Book9
- Of those, participating in the NFIP8
- NFIP participation rate88.9 percent
- Communities carrying a CRS class0
- Radon levels in McLeod 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 McLeod County (community 270616), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places McLeod 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. 88.9 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 McLeod 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 McLeod County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202436,798
- Households15,215
- Average household size2.42
- Median household income$80,084
- Median age41.6
Common questions
McLeod County questions, answered from the record.
How many people live in McLeod County, Minnesota?
The Census Bureau estimates 36,780 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 36,798, in 15,215 households, ranking 29th of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is McLeod County's population growing?
The population has grown 0.04 percent since the 2020 census base of 36,764, to 36,780 on July 1, 2024. In 2024 there were 409 births against 444 deaths, with net migration of -37. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in McLeod County?
$80,084. The median owner-occupied home is valued at $246,100, which is 3.1 times income, and median gross rent is $941 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in McLeod County?
956 establishments, employing 14,890 people with an annual payroll of $783.3 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 McLeod County?
Manufacturing is the largest private sector at 4,375 jobs, 27.9 percent of covered employment. Covered employment averages 15,697 jobs at an average annual pay of $56,991, or $1,096 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in McLeod County?
103 7(a) approvals totaling $23.3 m since FY2020, across 17 lenders, with a median approval of $80,000, plus 60 504 approvals worth $23.3 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in McLeod County?
50 housing units were authorized by permit in 2024, with a declared construction value of $18.9 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for McLeod 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 McLeod County come from?
The largest single origin is Carver County, with 135 households. Arriving households report an average income of $58,211 against $62,439 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for McLeod 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 McLeod 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.
McLeod County
Cities and places in McLeod.
9 Census places lie wholly or partly in McLeod County. All 9 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 |
|---|---|---|---|---|
| Hutchinson | city | 14,680 | 81 | Wholly in this county |
| Glencoe | city | 5,695 | 11 | Wholly in this county |
| Winsted | city | 2,181 | 1 | Wholly in this county |
| Lester Prairie | city | 1,898 | 7 | Wholly in this county |
| Silver Lake | city | 815 | 1 | Wholly in this county |
| Stewart | city | 644 | 1 | Wholly in this county |
| Brownton | city | 546 | None recorded | Wholly in this county |
| Plato | city | 242 | 1 | Wholly in this county |
| Biscay | city | 138 | None recorded | Wholly in this county |
Nearby