40 / 100

Carver County, MN

RANK #597 / 996  ·  POP 107,216  ·  MN

PROJECTED GROWTH: +0.4%

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

[01] Why Carver County?

Known for its natural scenery and high quality of life, Carver County, Minnesota, is located southwest of the Twin Cities metropolitan area. The county seat, Chaska, is roughly 20 miles from Minneapolis, making it a feasible commute for many residents. The community offers a blend of suburban amenities and rural charm, with rolling farmlands, woodlands, and over 125 lakes. Outdoor recreation is a significant draw, with more than 4,000 acres of parks, including Lake Waconia, the Minnesota Landscape Arboretum, and Carver Park Reserve, providing opportunities for hiking, biking, camping, and water activities.

Carver County consistently ranks as one of Minnesota's healthiest counties, reflecting its quality of life. The area attracts families and professionals, supported by highly rated public schools such as those in the Eastern Carver County Public Schools district. Commute options to Minneapolis are available through express bus services and on-demand rideshare programs. The local economy, historically rooted in agriculture and manufacturing, is experiencing growth in technology infrastructure, with several data centers establishing operations in towns like Chaska. This development contributes to the county's economic landscape, alongside its established industries.

[02] Market Snapshot

Housing Ratio
7.2x

Overvalued relative to economy

GDP Growth
+2.8%

Above national median

Home Prices
+0.9%

Below national median

Climate & Terrain
-2.7

Below-average climate & terrain

Price/Rent
17x

Above national median (13x)

Housing looks overvalued at 7.2x — home prices are high relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Carver County U.S. National

The Numbers

DEMOGRAPHICS
Population
107,216
+1.44% YoY
Median Household Income
$116,308
Median Home Value
$400,500
+0.86% 12mo
Median Rent
$1,384
Average Annual Pay
$67,445
+0.9% YoY
Employment
40,848
-1.3% YoY
Income-to-Home-Value
0.2904
More affordable than average
Migration Inflow
5.13%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$501,252
Days on Market
89
Slower market
Months of Supply
3.0
Balanced market
Sale-to-List Ratio
98.2%
Near asking price
Sold Above List
18.1%
Listings w/ Price Drops
28.2%
Building Permits (2024)
744
Single-Family Permits
662

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

[05] Capital Investment

$650M
TOTAL
PROJECT AMOUNT STATUS
CloudHQ MSP Campus Data Center
CloudHQ
$500M Planned
Northern Lights 2027 Expansion (Natural Gas Pipeline)
Northern Natural Gas
$50M Proposed
Chaska Yards (Community Land Trust Housing)
Carver County Community Development Agency (CDA)
$50M Completed
Carver County Roadway Systems Plan (various projects)
Carver County
$50M Planned

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

[06] Score Breakdown

GDP Growth +2.8% 51 percentile
Population Growth +1.4% 81 percentile
Income Growth +7.8% 33 percentile
Vacancy Rate 0.4% 97 percentile
Home Price Change +0.9% 43 percentile
Rent Growth +3.0% 49 percentile
Price/Rent 17x 21 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

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

Carver County has a Boom Town Index score of 40/100, ranking #597 among 996 U.S. counties. With job growth at -1.3% and a median household income of $116,308, it faces some economic headwinds compared to faster-growing counties.

Is Carver County affordable?

The median home value in Carver County is $400,500 with median rent at $1,384/month. The income-to-home-value ratio is 0.2904, which is more affordable than the national average.

Is Carver County growing or shrinking?

Population growth: +1.4% year-over-year. Job growth: -1.3%. Home values changed +0.9% in the past 12 months.

Are people moving to Carver County?

Yes — 5.13% of Carver 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