1st Advantage MortgageThe median Carver County household earns $125,946, and 4% of residents live below the poverty line. Those figures describe the county, not you: compare at least three written offers by APR and total cost, and confirm the lender's license before you apply.
On this page
- Carver County, MN: the basics
- Carver County at the extremes
- The $125,946 median and what sits around it
- Carver County industries and commutes
- Rent, home values and ownership in Carver County
- Towns and communities in Carver County
- Carver County next to its neighbors
- People and households in Carver County
- Reading the Carver County data as a borrower
- What a median Carver County budget can carry
- Four steps for Carver County borrowers
- Minnesota rules that apply in Carver County
- Related local guides
- Frequently asked questions
Carver County, MN: the basics
With an estimated 110,041 residents (ACS 2020 to 2024), Carver County ranks 11th of 87 in Minnesota for population. Density: about 311.0 residents per square mile across 354 square miles of land. Metro area: Minneapolis-St. Paul-Bloomington, MN-WI (OMB, 2023). Chaska is the biggest of its 11 Census places, at roughly 28,706 people (26% of the county total).
Carver County at the extremes
Ranked against the other 86 county-level areas in Minnesota, these are the Carver County figures furthest from the middle.
- Carver County ranks the highest of 87 Minnesota counties for median home value: $453,600, against $329,300 statewide. Owners with equity have more options, including secured credit, but that puts the house at risk.
- Carver County ranks 2nd lowest of 87 Minnesota counties for the uninsured rate: 2.1%, against 4.7% statewide. Lower uninsured rates still leave deductibles; check what a plan covers first.
- Carver County ranks the lowest of 87 Minnesota counties for the poverty rate: 4.4%, against 9.3% statewide. A low poverty rate does not mean every budget has room; test the payment.
- On the housing vacancy rate, Carver County sits near the bottom of Minnesota at 3%, 2nd lowest of 87. Few vacant units can mean a tight housing market.
The $125,946 median and what sits around it
Median household income in Carver County: $125,946 (41% above Minnesota, $89,062).
| Yearly household income | Carver County | Gap to Minnesota |
|---|---|---|
| Under $35,000 | 10.4% | -6.9 pts |
| $35,000 to $99,999 | 28.8% | -9.3 pts |
| $100,000 to $199,999 | 34.8% | +4.0 pts |
| $200,000 or more | 26.0% | +12.2 pts |
Six-figure households (61%) outnumber those under $35,000 (10%) in Carver County. The poverty rate is 4.4%, 5 points lower than the state's 9.3%. Carver County scores 0.422 on the Gini index, where higher means more unequal incomes. None of these numbers decides a Carver County application. Lenders weigh your own documented income against your own debts.
Carver County industries and commutes
By the Census industry count, 23% of employed Carver County residents work in education and health care and 16% in manufacturing. The sharpest difference from the state is in professional and administrative services, at 13% locally and 11% for Minnesota. Unemployment in Carver County, ACS five-year: 3.1%; Minnesota: 4.1%. Long commutes are the exception here: 13% of workers spend 45 minutes or longer getting to work. Households without a car make up 3.8% of the total (6.7% statewide).
| Sector | Carver County | Compared with Minnesota |
|---|---|---|
| Education and health care | 22.6% | -3.2 pts |
| Manufacturing | 15.8% | +2.4 pts |
| Professional and administrative services | 13.4% | +2.8 pts |
| Retail trade | 10.7% | 0.0 pts |
| Finance, insurance and real estate | 9.8% | +2.6 pts |
| Arts, lodging and food service | 6.2% | -0.9 pts |
If your hours swing with the season or with overtime, size a loan payment against your base pay, not your best month.
Rent, home values and ownership in Carver County
Carver County rent at the median: $1,514 a month, utilities in ($1,280 in Minnesota). By the Census definition, 43% of Carver County renters are cost-burdened. Median value $453,600; median income $125,946; ratio 3.6. In Carver County, 81% of occupied homes are owned by the people living in them. The median year built is 1996.
| Home costs | Carver County | Minnesota | Compared with Minnesota |
|---|---|---|---|
| Median gross rent | $1,514/mo | $1,280/mo | 18% higher |
| Median home value | $453,600 | $329,300 | 38% higher |
| Owners | 81% | 72% | +9.3 pts |
| Rent-burdened renters | 43% | 48% | -5.2 pts |
| Burdened owners | 21% | 23% | -2.0 pts |
At a $453,600 median value, many Carver County owners hold equity. Using it lowers cost only if you can carry the risk (equity vs. unsecured).
Towns and communities in Carver County
11 Census places fall mainly inside Carver County; the 11 biggest are below. They account for 74,677 residents, leaving about 32% of the county in unincorporated, unnamed areas. Victoria ($195,639) and Norwood Young America ($71,364) mark the top and bottom of Carver County's income range among larger places. Rent is cheapest in Cologne ($585) and steepest in Victoria ($2,235). No Carver County place has a separate guide yet; this county page serves all 11.
| Community | Type | Residents | Household income (median) | Rent (median) | Distance |
|---|---|---|---|---|---|
| Chaska | city | 28,706 | $110,956 | $1,553 | 9 mi |
| Waconia | city | 13,434 | $111,031 | $1,330 | 1 mi |
| Victoria | city | 11,295 | $195,639 | $2,235 | 7 mi |
| Carver | city | 6,239 | $147,697 | $1,379 | 9 mi |
| Watertown | city | 4,790 | $99,671 | $927 | 10 mi |
| Norwood Young America | city | 3,849 | $71,364 | $1,073 | 7 mi |
| Mayer | city | 2,518 | $124,917 | $1,563 | 7 mi |
| Cologne | city | 2,282 | $129,398 | $585 | 4 mi |
| New Germany | city | 595 | $93,864 | $1,107 | 10 mi |
| Hamburg | city | 547 | $72,188 | $955 | 10 mi |
| Crown College | CDP | 422 | n/a | n/a | 5 mi |
Carver County next to its neighbors
Nearest neighbors first, measured between county centers (18 to 31 miles). Richest neighbor: Scott County, $119,314. Poorest: Sibley County, $77,634. Carver County: $125,946.
| County | Miles | Median household income | Median rent | Homeownership |
|---|---|---|---|---|
| Carver County | - | $125,946 | $1,514/mo | 81% |
| Scott County, MN | 18 mi | $119,314 | $1,568/mo | 84% |
| Hennepin County, MN | 20 mi | $97,653 | $1,487/mo | 63% |
| McLeod County, MN | 23 mi | $80,084 | $941/mo | 77% |
| Wright County, MN | 26 mi | $107,209 | $1,288/mo | 84% |
| Sibley County, MN | 27 mi | $77,634 | $855/mo | 81% |
| Le Sueur County, MN | 31 mi | $94,968 | $942/mo | 81% |
People and households in Carver County
Degree holders: 50% of adults over 25. About 2% go without health insurance.
| People and households | Carver County | Compared with Minnesota | Compared with median county |
|---|---|---|---|
| Bachelor's or higher | 50.4% | +11.0 pts | +28.3 pts |
| Work from home | 23.5% | +5.9 pts | +14.9 pts |
| Poverty rate | 4.4% | -4.9 pts | -8.8 pts |
| No high school diploma | 3.0% | -3.1 pts | n/a |
| No vehicle | 3.8% | -2.9 pts | -1.6 pts |
| No health insurance | 2.1% | -2.5 pts | -5.7 pts |
| Unemployment (ACS) | 3.1% | -1.0 pts | -1.4 pts |
| Median age | 39.0 | +0.2 yrs | -2.5 yrs |
| Trip time | Share |
|---|---|
| Under 15 min | 25.5% |
| 15 to 29 min | 38.6% |
| 30 to 44 min | 23.3% |
| 45 to 59 min | 7.6% |
| 60+ min | 5.0% |
Reading the Carver County data as a borrower
A few patterns in the Carver County data, and the practical point behind each:
- Strong incomes, long terms. 61% of Carver County households earn $100,000+. The risk is a term that outlasts the need.
- Fraud. Gift cards, wire transfers or fees to unlock a loan mean walk away (report it).
- Know your credit. Review all three bureau reports for free (AnnualCreditReport.com).
What a median Carver County budget can carry
Lenders compare monthly debt payments with gross monthly income, the debt-to-income ratio. For a Carver County household at the medians it works out like this; treat it as an illustration only.
- Monthly gross at the median, Carver County: $10,496
- 14% goes to median rent ($1,514)
- Under a 40% cap, $4,198 total minus rent leaves $2,684
Homeowners in Carver County should swap in their mortgage, taxes and insurance for rent.
Four steps for Carver County borrowers
A short checklist for Carver County borrowers:
- Get a written quote for whatever you are paying for in Carver County.
- Prequalify with soft pulls where offered, then compare in writing.
- Verify the Minnesota license before giving out your Social Security number.
- Ask about early-payoff penalties.
Minnesota rules that apply in Carver County
No county office licenses personal lenders. For Carver County, check the Minnesota Department of Commerce. Problems with a lender can also go to the CFPB. The Minnesota guide covers state rules in more detail.
Related local guides
Next step up from Carver County:
Frequently asked questions
Where does Carver County rank on income in Minnesota?
1st of 87, with a median of $125,946. The state median is $89,062.
Is Carver County expensive for renters?
Median rent is $1,514 against $1,280 statewide, and 43% of renter households are cost-burdened.
Is home equity cheaper than a personal loan in Carver County?
Often, because the home secures it. With 81% of Carver County homes owner-occupied, weigh that lower cost against the risk to the house.
What are the biggest places in Carver County?
By population: Chaska, Waconia, Victoria, Carver, Watertown. The county has 11 Census places in all.
Will a Carver County address affect my match?
Beyond confirming Minnesota as your state, no. Your answers about amount, credit, income and payments are all that count.