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Olmsted County, MN

RANK #602 / 996  ·  POP 162,307  ·  MN

PROJECTED GROWTH: +0.4%

Olmsted County shows below-average economic momentum. Growth signals are flat or softening.

[01] Why Olmsted County?

Olmsted County, in southeastern Minnesota, is distinctive for being one of only four counties in the state without any natural lakes, though it does feature several reservoirs and rivers like the Zumbro, Whitewater, and Root. The county seat, Rochester, is Minnesota's third-largest city and sits in the Zumbro River valley. Commuting within Rochester is facilitated by public transit, including fixed routes and express services, with plans for Bus Rapid Transit. For those traveling from outside the city, regional commuter bus services connect Rochester to about 40 surrounding communities. The county offers various outdoor recreation opportunities across its parks and trails, including Chester Woods Park and Oxbow Park, which features the Zollman Zoo.

Life in Olmsted County is characterized by a mix of urban and rural settings, with Rochester as a central hub surrounded by farmland and smaller agricultural towns. The public schools in the county are highly rated, with several districts serving the area, including Rochester Public School District. Residents value the natural environment and recreational opportunities. The economy is largely driven by the healthcare sector, with significant employment in health diagnosing and treating practitioners. Recent economic developments include investments in waste diversion and resource recovery, aiming to enhance recycling and support sustainable practices. The county is also working on infrastructure improvements, such as road upgrades.

[02] Market Snapshot

Housing Ratio
3.6x

Undervalued relative to economy

GDP Growth
+3.4%

Above national median

Home Prices
+3.5%

Outpacing national median

Climate & Terrain
-4.0

Harsh climate or flat terrain

Price/Rent
15x

Above national median (13x)

Housing looks undervalued at 3.6x — home prices are low relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Olmsted County U.S. National

The Numbers

DEMOGRAPHICS
Population
162,307
+0.86% YoY
Median Household Income
$90,420
Median Home Value
$285,600
+3.54% 12mo
Median Rent
$1,193
Average Annual Pay
$79,579
+5.1% YoY
Employment
103,905
+1.8% YoY
Income-to-Home-Value
0.3166
More affordable than average
Migration Inflow
3.21%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$339,900
Days on Market
57
Moderate pace
Months of Supply
3.2
Balanced market
Sale-to-List Ratio
99.3%
Near asking price
Sold Above List
32.7%
Listings w/ Price Drops
16.2%
Building Permits (2024)
1,239
Single-Family Permits
314

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$1,340M
TOTAL
PROJECT AMOUNT STATUS
Crane and Sandhill Battery Energy Storage Projects
Crane Energy Storage LLC and Sandhill Energy Storage LLC
$800M Proposed
Snowshoe Energy Storage Project
Snowshoe BESS LLC (Spearmint Energy)
$255M Under Construction
Lemon Hill Solar Project
Lemon Hill Solar, LLC (Ranger Power)
$180M Proposed
CSAH 44 and TH 14 Interchange Project
Olmsted County
$55M Under Construction
Community Solar Portfolio (Multiple Projects)
Various (e.g., Westside Solar, Cenergy Power, People's Energy Cooperative)
$50M Operating

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +3.4% 65 percentile
Population Growth +0.9% 67 percentile
Income Growth +6.8% 15 percentile
Vacancy Rate 0.9% 61 percentile
Home Price Change +3.5% 77 percentile
Rent Growth +1.7% 29 percentile
Price/Rent 15x 38 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Olmsted County, MN a good place to move to?

Olmsted County has a Boom Town Index score of 40/100, ranking #602 among 996 U.S. counties. With job growth at +1.8% and a median household income of $90,420, it faces some economic headwinds compared to faster-growing counties.

Is Olmsted County affordable?

The median home value in Olmsted County is $285,600 with median rent at $1,193/month. The income-to-home-value ratio is 0.3166, which is more affordable than the national average.

Is Olmsted County growing or shrinking?

Population growth: +0.9% year-over-year. Job growth: +1.8%. Home values changed +3.5% in the past 12 months.

Are people moving to Olmsted County?

Yes — 3.21% of Olmsted County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

Hillsborough County, NH 50 Delaware County, PA 50 Aiken County, SC 50 Minnehaha County, SD 50 Richmond city, VA 50 Livingston Parish, LA 50 Franklin County, NC 50 Frederick County, VA 50