HomeMinnesotaOtter Tail CountyUnderwood
Underwood, Minnesota: commercial real estate data.
Underwood is a Census city of 461 people across 0.59 square miles of land, in Otter Tail County. Median household income is $75,000, 85.0 percent of occupied homes are owned, and the SBA record carries 2 7(a) approvals to borrowers here worth $506,000 since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Underwood
What Underwood is
- Census place typecity
- Land area0.59 sq mi
- Water area0 sq mi
- Population per square mile of land786 plus or minus 188
- County holding the largest share of its areaOtter Tail County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Underwood
How many people live in Underwood
- Population461 plus or minus 110
- Median age37.0 plus or minus 8.7
- Population under 18122 plus or minus 39
- Share under 1826.5 percent plus or minus 5.5
- Population 65 and over85 plus or minus 21
- Share 65 and over18.4 percent
- Households180
- Family households125 plus or minus 35
- Share of households that are families69.4 percent plus or minus 14.0
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Underwood
Income and work in Underwood
- Median household income$75,000 plus or minus $19,334
- Per capita income$33,450
- Civilian labor force243 plus or minus 58
- Employed237 plus or minus 58
- Unemployed6 plus or minus 6
- Unemployment rate2.5 percent plus or minus 2.4
- Adults 25 and over303 plus or minus 68
- Adults 25 and over with a high school diploma or higher89.4 percent plus or minus 26.4
- Adults 25 and over with a bachelor degree or higher23.4 percent plus or minus 7.6
- Adults 25 and over with a graduate degree5.0 percent plus or minus 4.1
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Underwood
Housing in Underwood
- Housing units202
- Occupied units180
- Vacant units22 plus or minus 17
- Vacancy rate10.9 percent plus or minus 8.2
- Owner occupied153 plus or minus 35
- Renter occupied27 plus or minus 9
- Ownership rate85.0 percent
- Median owner-occupied home value$187,500 plus or minus $118,565
- Median gross rent, monthly$925 plus or minus $247
- Annual rent as a share of median income14.8 percent plus or minus 5.5
- Single family units177 plus or minus 37
- Share single family87.6 percent
- Units in buildings of two or more19 plus or minus 12
- Share in buildings of two or more9.4 percent plus or minus 5.8
- Mobile homes6 plus or minus 5
- Median year structure built1962
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Underwood
How Underwood gets to work
- Workers 16 and over who commute215 plus or minus 54
- Commuting under 15 minutes67 plus or minus 34
- Share commuting under 15 minutes31.2 percent plus or minus 13.8
- Commuting 30 minutes or more19 plus or minus 18
- Share commuting 30 minutes or more8.8 percent plus or minus 8.1
- Drove alone77.8 percent
- Carpooled12.0 percent plus or minus 6.2
- Public transport0.0 percent
- Walked2.1 percent plus or minus 2.1
- Worked from home8.1 percent plus or minus 5.2
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Underwood
SBA loans in Underwood (7(a))
- Approvals2
- Gross approval$506,000
- Average approval$253,000
- Median approval$253,000
- Largest approval$262,000
- Jobs supported7
- Jobs per approval3.5
- Loans with a final outcome1
- Paid in full1
- Charged off0
- Median term96 months
- Share on real estate terms of 20 years or more0.0 percent
- Share to franchises0.0 percent
- Distinct lenders2
- Distinct industries by NAICS2
Counted by borrower city: approvals to borrowers whose address is in Underwood, in any county, FY2020 to FY2026. Only 1 loan has reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Underwood
SBA loans in Underwood (504)
- Approvals7
- Gross approval$3,222,000
- Average approval$460,286
- Median approval$362,000
- Largest approval$762,000
- Jobs supported12
- Loans with a final outcome3
- Charged off0
- Median term240 months
- Distinct CDCs1
Counted by borrower city: approvals to borrowers whose address is in Underwood, in any county, FY2010 to FY2026. Only 3 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Otter Tail County, not Underwood
Otter Tail County context, not Underwood figures
- Establishments in Otter Tail County1,730
- Covered employment, Otter Tail County22,910
- Average annual pay, Otter Tail County$52,013
- Housing units permitted, Otter Tail County89
Every figure in this section is published for Otter Tail County as a whole and is not a measurement of Underwood.
All Otter Tail County figures →
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual.
Coverage
What this page does not hold.
Parcel detail, 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 →
Common questions
Underwood questions, answered from the record.
How many people live in Underwood, Minnesota?
461, in 180 households. Underwood city covers 0.59 square miles of land, which is 786 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Underwood in?
Otter Tail County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Underwood?
$75,000. The median owner-occupied home is valued at $187,500. Median gross rent is $925 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Underwood businesses?
2 7(a) approvals totaling $506,000 since FY2020, across 2 lenders, median approval $253,000, plus 7 504 approvals worth $3.2 m since FY2010. These count approvals to borrowers whose address is in Underwood, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Underwood borrowers get paid back?
No rate is published for Underwood. Only 1 loan has reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published. The counts are shown instead.
Are the county figures on this page Underwood figures?
No, and they are labeled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Otter Tail County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Underwood.
Is zoning published for Underwood?
No. Nothing on this page presents parcel level zoning.