HomeMinnesotaOtter Tail CountyUnderwood city
Underwood city, Minnesota: commercial real estate data.
Underwood city 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.
76 sourced place values · tier FULL · 8 sections
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 7(a) lending to Underwood borrowers
- Approvals2
- Gross approval$506,000
- Average approval$253,000
- Median approval$262,000
- Ninetieth percentile approval$262,000
- Largest approval$262,000
- Jobs supported7
- Jobs per approval3.5
- Loans with a final outcome1
- Paid in full1
- Charged off0
- Median term120 months
- Share on real estate terms of 20 years or more0.0 percent
- Share to franchises0.0 percent
- Distinct lenders2
- Distinct industries by NAICS2
A charge-off rate is not published here. only 1 resolved loans, too few to publish a rate, and a rate over that few outcomes would move several points on one loan.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Underwood
SBA 504 lending to Underwood borrowers
- 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
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
These are Otter Tail County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Underwood measurements.
- Establishments in Otter Tail County1,730
- Employment at those establishments, Otter Tail County18,813
- Covered employment, Otter Tail County22,910
- Average annual pay, Otter Tail County$52,013
- Average weekly wage, Otter Tail County$1,000
- Housing units permitted, Otter Tail County89
- Of those, single family, Otter Tail County71
- County product, 2024, Otter Tail County$3,284,943,000
- County product change over the prior year, Otter Tail County4.5 percent
- Average income of an arriving household, Otter Tail County$76,792
Every figure in this section is published for Otter Tail County as a whole and is not a measurement of Underwood. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
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. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- This place is not listed as a community in the FEMA Community Status Book, so no NFIP participation or CRS class is shown.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
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 totalling $506,000, across 2 lenders, median approval $262,000, plus 7 504 approvals worth $3.2 m. 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 resolved loans, too few to publish a rate, and a percentage over that few outcomes would move several points on a single loan. The counts are shown instead.
Are the county figures on this page Underwood figures?
No, and they are labelled 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?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.