HomeMinnesotaPennington County
Pennington County, Minnesota: commercial real estate data.
Pennington County, Minnesota had an estimated 13,652 residents on July 1, 2024, down 2.4 percent since the 2020 census base of 13,994, across 617 square miles. County output reached $2.74 bn in 2024, 365 establishments operate here, and the SBA record carries 10 7(a) approvals worth $7.2 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Pennington County
How many people live in Pennington County
- Population, American Community Survey 2020-202413,791
- Households6,207
- Average household size2.22
- Median household income$77,325
- Median age39.6
- Median gross rent$862 per month
- Median owner-occupied home value$195,500
- Home value to household income2.5 times
- Annual rent as a share of median income13.4 percent
- Adults 25 and over with a bachelor degree or higher21.0 percent
- Adults 25 and over with a graduate degree5.5 percent
- Adults 25 and over9,641
- Population under 182,866
- Share under 1820.8 percent
- Population 65 and over2,665
- Share 65 and over19.3 percent
- Working age population, 18 to 648,260
- Civilian labor force7,817
- Unemployment rate2.9 percent
- Labor force participation, adults 18 and over71.6 percent
- Rank by population among Minnesota counties60th of 87
- Rank by population among US county-equivalents, Puerto Rico included2240th of 3,222
Pennington County is the 60th largest of 87 Minnesota counties by population. A median home costs 2.5 times median household income, which is affordable by national standards. Residents under 18 outnumber those 65 and over, at 20.8 percent against 19.3 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Pennington County
Is Pennington County's population growing?
- Population, July 1, 202413,652
- Census 2020 base population13,994
- Population change since the 2020 census base-2.44 percent
- Population change, 2023 to 2024-80
- Births, 2024136
- Deaths, 2024162
- Natural change, 2024-26
- Net domestic migration, 2024-76
- Net international migration, 202422
- Total net migration, 2024-54
- Cumulative net domestic migration, 2021 to 2024-278
- Rank by growth among US county-equivalents2615th of 3,144
The county has lost 2.44 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.
Pennington County
Where are people moving to Pennington County from?
- Tax returns filed by households arriving357
- People arriving, from those returns607
- Tax returns filed by households leaving385
- Net household movement-28
- Adjusted gross income arriving$18.2 m
- Net adjusted gross income movement$-3.6 m
- Average income of an arriving household$51,045
- Average income of a leaving household$56,761
- Largest single originMarshall County (45 households)
- Largest single destinationMarshall County (40 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Marshall County | 45 | 89 | $2.0 m |
| Red Lake County | 30 | 60 | $1.4 m |
| Polk County | 22 | 40 | $1.2 m |
| Roseau County | 20 | 41 | $961,000 |
Households arriving report $5,716 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Marshall 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.
Pennington County
What is the Pennington County economy?
- County GDP, 2024$2.74 bn
- County GDP, 2023$2.66 bn
- GDP change, 2023 to 20243.2 percent
- GDP change over five years47.2 percent
- Rank by GDP among the Minnesota areas BEA publishes24th of 87
- Rank by GDP among the US county areas BEA publishes1046th of 3,127
- GDP per resident$198,876
Output grew 3.2 percent in the latest year and 47.2 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.
Pennington County
Employment by industry in Pennington County
- Covered employment, annual average9,793
- Establishments reporting418
- Average annual pay$55,946
- Average weekly wage$1,076
- Retail trade, employment995
- Retail trade, average annual pay$28,215
- Manufacturing, employment933
- Manufacturing, average annual pay$61,786
- Accommodation and food services, employment514
- Accommodation and food services, average annual pay$17,771
- Other services, except public administration, employment247
- Other services, except public administration, average annual pay$20,818
- Transportation and warehousing, employment215
- Construction, employment163
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Retail trade | 995 | 63 | $28,215 |
| Manufacturing | 933 | 18 | $61,786 |
| Accommodation and food services | 514 | 30 | $17,771 |
| Other services, except public administration | 247 | 42 | $20,818 |
| Transportation and warehousing | 215 | 22 | $65,497 |
| Construction | 163 | 31 | $61,305 |
| Finance and insurance | 156 | 23 | $69,820 |
| Arts, entertainment and recreation | 88 | 12 | $13,543 |
Retail trade is the largest private sector at 995 jobs, 10.2 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Pennington County
How many businesses are in Pennington County?
- Establishments, all industries365
- Employment at those establishments8,929
- Annual payroll$538.1 m
- Establishments per 1,000 residents26.5
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.
Pennington County
Building permits in Pennington County
- Housing units authorized by permit, 202410
- Declared construction value permitted$3.1 m
- Single family units authorized10
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$305,324
- Units authorized per 1,000 households1.6
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.
Pennington County
SBA loans in Pennington County (7(a) and 504)
- 7(a) approvals recorded10
- 7(a) gross approval dollars$7.2 m
- Average 7(a) approval$723,790
- Median 7(a) approval$299,800
- Largest single approval$2,076,000
- Jobs reported supported, 7(a)93
- Jobs per approval9.3
- Distinct 7(a) lenders active7
- Distinct industries receiving approvals7
- Median 7(a) term270 months
- Share of loans on real estate terms, 240 months or longer60.0 percent
- Loans on real estate terms6
- Loans on working capital terms, 120 months or shorter4
- Franchise loans3
- Franchise share of approvals30.0 percent
- Leading industry by approval countHotels (except Casino Hotels) and Motels (3)
- Most active lenderUltima Bank Minnesota (3)
- 504 approvals recorded6
- 504 gross approval dollars$6.1 m
- Average 504 approval$1,018,167
- Median 504 approval$856,000
- Distinct CDCs active1
- 504 jobs per approval15.7
- 504 jobs per million dollars approved15.4
- Most active CDCMidwest Business Finance Corporation (6)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$13.3 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.
Pennington County
SBA loan default and charge-off rates in Pennington County
Do SBA loans in Pennington County get paid back?
- Loans with a final outcome recorded1
- Paid in full1
- Charged off0
- Status: Exempt from disclosure9
- Status: Paid in full1
Only 1 loan has 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.
Pennington County
SBA lending by place in Pennington County
- Borrower cities with recorded lending2
- Thief River Falls, approvals9
- Trail, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Thief River Falls | 9 | $7,206,900 |
| Trail | 1 | $31,000 |
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Pennington County
How large is Pennington County?
- Land area617 sq mi
- Rank by land area among Minnesota counties50th of 87
- Width, east to west42.5 mi
- Height, north to south16.6 mi
- Geographies sharing a boundary5
- Residents per square mile of land22
- Establishments per square mile0.59
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.
Pennington County
Flood risk in Pennington County
- Participation of the county's own NFIP community Pennington County, unincorporated areasParticipating, community 270651
- Communities in the county in the NFIP Community Status Book3
- Of those, participating in the NFIP3
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Pennington 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 Pennington County (community 270651), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Pennington 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. 100.0 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 Pennington 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 Pennington County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202413,791
- Households6,207
- Average household size2.22
- Median household income$77,325
- Median age39.6
Common questions
Pennington County questions, answered from the record.
How many people live in Pennington County, Minnesota?
The Census Bureau estimates 13,652 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 13,791, in 6,207 households, ranking 60th of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Pennington County's population growing?
The population has fallen 2.44 percent since the 2020 census base of 13,994, to 13,652 on July 1, 2024. In 2024 there were 136 births against 162 deaths, with net migration of -54. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Pennington County?
$77,325. The median owner-occupied home is valued at $195,500, which is 2.5 times income, and median gross rent is $862 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Pennington County?
365 establishments, employing 8,929 people with an annual payroll of $538.1 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 Pennington County?
Retail trade is the largest private sector at 995 jobs, 10.2 percent of covered employment. Covered employment averages 9,793 jobs at an average annual pay of $55,946, or $1,076 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Pennington County?
10 7(a) approvals totaling $7.2 m since FY2020, across 7 lenders, with a median approval of $299,800, plus 6 504 approvals worth $6.1 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Pennington County?
10 housing units were authorized by permit in 2024, with a declared construction value of $3.1 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Pennington 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 Pennington County come from?
The largest single origin is Marshall County, with 45 households. Arriving households report an average income of $51,045 against $56,761 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Pennington 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 Pennington 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.
Pennington County
Cities and places in Pennington.
3 Census places lie wholly or partly in Pennington County. All 3 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 |
|---|---|---|---|---|
| Thief River Falls | city | 8,823 | 9 | Wholly in this county |
| St. Hilaire | city | 259 | None recorded | Wholly in this county |
| Goodridge | city | 49 | None recorded | Wholly in this county |
A further 1 of the county's 10 SBA 7(a) approvals are to borrowers in cities that match no Census place in Pennington County, the largest being Trail (1). 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