Waseca County, Minnesota: commercial real estate data.
Waseca County, Minnesota had an estimated 18,684 residents on July 1, 2024, down 1.4 percent since the 2020 census base of 18,954, across 423 square miles. County output reached $1.26 bn in 2024, 426 establishments operate here, and the SBA record carries 25 7(a) approvals worth $8.9 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Waseca County
How many people live in Waseca County
- Population, American Community Survey 2020-202418,885
- Households7,477
- Average household size2.53
- Median household income$76,261
- Median age40.6
- Median gross rent$883 per month
- Median owner-occupied home value$220,800
- Home value to household income2.9 times
- Annual rent as a share of median income13.9 percent
- Adults 25 and over with a bachelor degree or higher21.0 percent
- Adults 25 and over with a graduate degree5.0 percent
- Adults 25 and over13,064
- Population under 184,296
- Share under 1822.7 percent
- Population 65 and over3,614
- Share 65 and over19.1 percent
- Working age population, 18 to 6410,975
- Civilian labor force9,571
- Unemployment rate2.5 percent
- Labor force participation, adults 18 and over65.6 percent
- Rank by population among Minnesota counties50th of 87
- Rank by population among US county-equivalents, Puerto Rico included1939th of 3,222
Waseca County is the 50th largest of 87 Minnesota counties by population. A median home costs 2.9 times median household income, which is affordable by national standards. Residents under 18 outnumber those 65 and over, at 22.7 percent against 19.1 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Waseca County
Is Waseca County's population growing?
- Population, July 1, 202418,684
- Census 2020 base population18,954
- Population change since the 2020 census base-1.42 percent
- Population change, 2023 to 2024-221
- Births, 2024189
- Deaths, 2024209
- Natural change, 2024-20
- Net domestic migration, 2024-214
- Net international migration, 202415
- Total net migration, 2024-199
- Cumulative net domestic migration, 2021 to 2024-270
- Rank by growth among US county-equivalents2334th of 3,144
The county has lost 1.42 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.
Waseca County
Where are people moving to Waseca County from?
- Tax returns filed by households arriving471
- People arriving, from those returns857
- Tax returns filed by households leaving523
- Net household movement-52
- Adjusted gross income arriving$25.6 m
- Net adjusted gross income movement$-777,000
- Average income of an arriving household$54,386
- Average income of a leaving household$50,465
- Largest single originBlue Earth County (77 households)
- Largest single destinationBlue Earth County (98 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Blue Earth County | 77 | 143 | $5.6 m |
| Steele County | 68 | 116 | $3.0 m |
| Rice County | 38 | 78 | $1.7 m |
| Le Sueur County | 34 | 65 | $1.7 m |
| Nicollet County | 21 | 43 | $991,000 |
Households arriving report $3,921 more average income than households leaving, so the migration is raising local spending power rather than just moving it around. The largest single source of arrivals is Blue Earth 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.
Waseca County
What is the Waseca County economy?
- County GDP, 2024$1.26 bn
- County GDP, 2023$1.13 bn
- GDP change, 2023 to 202411.0 percent
- GDP change over five years68.3 percent
- Rank by GDP among the Minnesota areas BEA publishes45th of 87
- Rank by GDP among the US county areas BEA publishes1663rd of 3,127
- GDP per resident$66,525
Output grew 11.0 percent in the latest year and 68.3 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.
Waseca County
Employment by industry in Waseca County
- Covered employment, annual average5,530
- Establishments reporting552
- Average annual pay$54,072
- Average weekly wage$1,040
- Manufacturing, employment868
- Manufacturing, average annual pay$76,952
- Retail trade, employment561
- Retail trade, average annual pay$31,590
- Accommodation and food services, employment396
- Accommodation and food services, average annual pay$15,576
- Construction, employment252
- Construction, average annual pay$61,791
- Wholesale trade, employment191
- Professional, scientific and technical services, employment178
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Manufacturing | 868 | 20 | $76,952 |
| Retail trade | 561 | 53 | $31,590 |
| Accommodation and food services | 396 | 46 | $15,576 |
| Construction | 252 | 67 | $61,791 |
| Wholesale trade | 191 | 19 | $71,898 |
| Professional, scientific and technical services | 178 | 32 | $74,094 |
| Finance and insurance | 164 | 34 | $72,413 |
| Arts, entertainment and recreation | 67 | 13 | $18,008 |
Manufacturing is the largest private sector at 868 jobs, 15.7 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Waseca County
How many businesses are in Waseca County?
- Establishments, all industries426
- Employment at those establishments4,108
- Annual payroll$213.7 m
- Establishments per 1,000 residents22.6
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.
Waseca County
Building permits in Waseca County
- Housing units authorized by permit, 202425
- Declared construction value permitted$7.3 m
- Single family units authorized25
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$292,567
- 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.
Waseca County
SBA loans in Waseca County (7(a) and 504)
- 7(a) approvals recorded25
- 7(a) gross approval dollars$8.9 m
- Average 7(a) approval$354,504
- Median 7(a) approval$180,000
- 10th percentile approval$31,280
- 90th percentile approval$800,000
- Largest single approval$2,345,000
- Jobs reported supported, 7(a)99
- Jobs per approval4.0
- Distinct 7(a) lenders active11
- Distinct industries receiving approvals15
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer24.0 percent
- Loans on real estate terms6
- Loans on working capital terms, 120 months or shorter17
- Franchise loans0
- Franchise share of approvals0.0 percent
- Most active lenderUnited Prairie Bank (12)
- 504 approvals recorded13
- 504 gross approval dollars$5.6 m
- Average 504 approval$428,615
- Median 504 approval$290,000
- Distinct CDCs active5
- 504 jobs per approval6.1
- 504 jobs per million dollars approved14.2
- Most active CDCMidwest Business Finance Corporation (5)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$14.4 m
The average approval of $354,504 sits well above the median of $180,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 24.0 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.
Waseca County
SBA loan default and charge-off rates in Waseca County
Do SBA loans in Waseca County get paid back?
- Loans with a final outcome recorded13
- Paid in full13
- Charged off0
- Status: Cancelled3
- Status: Paid in full13
- Status: Exempt from disclosure9
Only 13 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.
Waseca County
SBA lending by place in Waseca County
- Borrower cities with recorded lending5
- Waseca, approvals17
- New Richland, approvals3
- Waterville, approvals3
- Janesville, approvals1
- Waldorf, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Waseca | 17 | $3,888,400 |
| New Richland | 3 | $2,945,000 |
| Waterville | 3 | $1,660,000 |
| Janesville | 1 | $344,200 |
| Waldorf | 1 | $25,000 |
Waseca accounts for 17 approvals against 3 in New Richland. 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.
Waseca County
How large is Waseca County?
- Land area423 sq mi
- Rank by land area among Minnesota counties80th of 87
- Width, east to west18 mi
- Height, north to south24.1 mi
- Geographies sharing a boundary6
- Residents per square mile of land45
- Establishments per square mile1.01
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.
Waseca County
Flood risk in Waseca County
- Participation of the county's own NFIP community Waseca County, unincorporated areasParticipating, community 270647
- Communities in the county in the NFIP Community Status Book5
- Of those, participating in the NFIP5
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Waseca 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 Waseca County (community 270647), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Waseca 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 Waseca 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 Waseca County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202418,885
- Households7,477
- Average household size2.53
- Median household income$76,261
- Median age40.6
Common questions
Waseca County questions, answered from the record.
How many people live in Waseca County, Minnesota?
The Census Bureau estimates 18,684 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 18,885, in 7,477 households, ranking 50th of 87 Minnesota counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Waseca County's population growing?
The population has fallen 1.42 percent since the 2020 census base of 18,954, to 18,684 on July 1, 2024. In 2024 there were 189 births against 209 deaths, with net migration of -199. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Waseca County?
$76,261. The median owner-occupied home is valued at $220,800, which is 2.9 times income, and median gross rent is $883 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Waseca County?
426 establishments, employing 4,108 people with an annual payroll of $213.7 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 Waseca County?
Manufacturing is the largest private sector at 868 jobs, 15.7 percent of covered employment. Covered employment averages 5,530 jobs at an average annual pay of $54,072, or $1,040 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Waseca County?
25 7(a) approvals totaling $8.9 m since FY2020, across 11 lenders, with a median approval of $180,000, plus 13 504 approvals worth $5.6 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Waseca County?
25 housing units were authorized by permit in 2024, with a declared construction value of $7.3 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Waseca 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 Waseca County come from?
The largest single origin is Blue Earth County, with 77 households. Arriving households report an average income of $54,386 against $50,465 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Waseca 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 Waseca 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.
Waseca County
Cities and places in Waseca.
4 Census places lie wholly or partly in Waseca County. All 4 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 |
|---|---|---|---|---|
| Waseca | city | 9,164 | 17 | Wholly in this county |
| Janesville | city | 2,378 | 1 | Wholly in this county |
| New Richland | city | 1,184 | 3 | Wholly in this county |
| Waldorf | city | 171 | 1 | Wholly in this county |
A further 3 of the county's 25 SBA 7(a) approvals are to borrowers in cities that match no Census place in Waseca County, the largest being Waterville (3). 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