Hamilton County, Indiana: commercial real estate data.
Hamilton County, Indiana had an estimated 379,704 residents on July 1, 2024, up 9.3 percent since the 2020 census base of 347,491, across 394 square miles. County output reached $31.64 bn in 2024, 10,446 establishments operate here, and the SBA record carries 940 7(a) approvals worth $453.8 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Hamilton County
How many people live in Hamilton County
- Population, American Community Survey 2020-2024365,056
- Households137,252
- Average household size2.66
- Median household income$121,530
- Median age38.4
- Median gross rent$1,574 per month
- Median owner-occupied home value$405,500
- Home value to household income3.3 times
- Annual rent as a share of median income15.5 percent
- Adults 25 and over with a bachelor degree or higher61.9 percent
- Adults 25 and over with a graduate degree23.5 percent
- Adults 25 and over243,378
- Population under 1892,736
- Share under 1825.4 percent
- Population 65 and over50,673
- Share 65 and over13.9 percent
- Working age population, 18 to 64221,647
- Civilian labor force200,896
- Unemployment rate2.8 percent
- Labor force participation, adults 18 and over73.8 percent
- Rank by population among Indiana counties4th of 92
- Rank by population among US county-equivalents, Puerto Rico included206th of 3,222
Hamilton County is the 4th largest of 92 Indiana counties by population. A median home costs 3.3 times median household income, which is moderately unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 25.4 percent against 13.9 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Hamilton County
Is Hamilton County's population growing?
- Population, July 1, 2024379,704
- Census 2020 base population347,491
- Population change since the 2020 census base9.27 percent
- Population change, 2023 to 20247,116
- Births, 20243,904
- Deaths, 20242,301
- Natural change, 20241,603
- Net domestic migration, 20242,841
- Net international migration, 20242,646
- Total net migration, 20245,487
- Cumulative net domestic migration, 2021 to 202417,066
- Rank by growth among US county-equivalents172nd of 3,144
The county has grown 9.27 percent since the 2020 census base. The population grew in 2024 from both sources: births exceeded deaths and more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Hamilton County
Where are people moving to Hamilton County from?
- Tax returns filed by households arriving12,733
- People arriving, from those returns22,953
- Tax returns filed by households leaving11,037
- Net household movement1,696
- Adjusted gross income arriving$1.48 bn
- Net adjusted gross income movement$332.3 m
- Average income of an arriving household$116,177
- Average income of a leaving household$103,921
- Largest single originMarion County (4,193 households)
- Largest single destinationMarion County (2,879 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Marion County | 4,193 | 7,017 | $403.7 m |
| Madison County | 385 | 634 | $23.2 m |
| Boone County | 379 | 712 | $93.5 m |
| Hendricks County | 316 | 551 | $25.2 m |
| Hancock County | 303 | 591 | $38.9 m |
| Cook County | 289 | 525 | $40.1 m |
| Johnson County | 202 | 360 | $16.1 m |
| Delaware County | 180 | 291 | $14.8 m |
Households arriving report $12,256 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 Marion 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.
Hamilton County
What is the Hamilton County economy?
- County GDP, 2024$31.64 bn
- County GDP, 2023$29.07 bn
- GDP change, 2023 to 20248.8 percent
- GDP change over five years48.0 percent
- Rank by GDP among the Indiana areas BEA publishes2nd of 92
- Rank by GDP among the US county areas BEA publishes188th of 3,127
- GDP per resident$86,674
Output grew 8.8 percent in the latest year and 48.0 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.
Hamilton County
Employment by industry in Hamilton County
- Covered employment, annual average163,937
- Establishments reporting12,788
- Average annual pay$74,787
- Average weekly wage$1,438
- Health care and social assistance, employment22,096
- Health care and social assistance, average annual pay$58,695
- Retail trade, employment18,499
- Retail trade, average annual pay$44,114
- Accommodation and food services, employment17,573
- Accommodation and food services, average annual pay$25,610
- Finance and insurance, employment15,780
- Finance and insurance, average annual pay$113,846
- Professional, scientific and technical services, employment15,249
- Administrative and support and waste management services, employment11,299
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 22,096 | 1,280 | $58,695 |
| Retail trade | 18,499 | 955 | $44,114 |
| Accommodation and food services | 17,573 | 794 | $25,610 |
| Finance and insurance | 15,780 | 981 | $113,846 |
| Professional, scientific and technical services | 15,249 | 2,762 | $161,242 |
| Administrative and support and waste management services | 11,299 | 779 | $57,434 |
| Construction | 9,904 | 814 | $86,666 |
| Manufacturing | 7,704 | 300 | $81,208 |
Health care and social assistance is the largest private sector at 22,096 jobs, 13.5 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Hamilton County
How many businesses are in Hamilton County?
- Establishments, all industries10,446
- Employment at those establishments165,539
- Annual payroll$11.04 bn
- Establishments per 1,000 residents28.6
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.
Hamilton County
Building permits in Hamilton County
- Housing units authorized by permit, 20244,561
- Declared construction value permitted$1.53 bn
- Single family units authorized2,887
- Multifamily units authorized1,674
- Multifamily share of units36.7 percent
- Average declared value per unit$335,414
- Units authorized per 1,000 households33.2
Single-family homes are 63.3 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Hamilton County
SBA loans in Hamilton County (7(a) and 504)
- 7(a) approvals recorded940
- 7(a) gross approval dollars$453.8 m
- Average 7(a) approval$482,768
- Median 7(a) approval$175,000
- 10th percentile approval$30,000
- 90th percentile approval$1,283,730
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)10,992
- Jobs per approval11.7
- Distinct 7(a) lenders active92
- Distinct industries receiving approvals222
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer7.3 percent
- Loans on real estate terms69
- Loans on working capital terms, 120 months or shorter810
- Franchise loans197
- Franchise share of approvals21.0 percent
- Leading industry by approval countFitness and Recreational Sports Centers (42)
- Most active lenderThe Huntington National Bank (310)
- 504 approvals recorded180
- 504 gross approval dollars$167.3 m
- Average 504 approval$929,572
- Median 504 approval$635,000
- Distinct CDCs active6
- 504 jobs per approval14.6
- 504 jobs per million dollars approved15.7
- Most active CDCIndiana Statewide Certified Development Corporation (90)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$621.1 m
The average approval of $482,768 sits well above the median of $175,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 7.3 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.
Hamilton County
SBA loan default and charge-off rates in Hamilton County
Do SBA loans in Hamilton County get paid back?
- Loans with a final outcome recorded202
- Paid in full189
- Charged off13
- Charge-off rate on resolved loans6.4 percent
- Status: Exempt from disclosure558
- Status: Charged off13
- Status: Paid in full189
- Status: Cancelled123
- Status: Committed, not yet disbursed57
Of the 202 loans that have reached a final outcome, 6.4 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
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.
Hamilton County
SBA lending by place in Hamilton County
- Borrower cities with recorded lending15
- Carmel, approvals274
- Fishers, approvals273
- Noblesville, approvals177
- Westfield, approvals98
- Indianapolis, approvals52
- Cicero, approvals18
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Carmel | 274 | $134,334,000 |
| Fishers | 273 | $134,150,000 |
| Noblesville | 177 | $77,047,400 |
| Westfield | 98 | $53,822,600 |
| Indianapolis | 52 | $28,641,500 |
| Cicero | 18 | $4,152,100 |
| Sheridan | 16 | $6,933,200 |
| Arcadia | 8 | $3,845,200 |
| 7 other borrower cities | 24 | $10,876,100 |
Carmel accounts for 274 approvals against 273 in Fishers. 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.
Hamilton County
How large is Hamilton County?
- Land area394 sq mi
- Rank by land area among Indiana counties50th of 92
- Width, east to west20.2 mi
- Height, north to south20.2 mi
- Geographies sharing a boundary6
- Residents per square mile of land927
- Establishments per square mile26.51
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.
Hamilton County
Flood risk in Hamilton County
- Participation of the county's own NFIP community Hamilton County, unincorporated areasParticipating, community 180080
- Community Rating System class of the county's own communityClass 7
- Communities in the county in the NFIP Community Status Book8
- Of those, participating in the NFIP8
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 7
- Communities carrying a CRS class3
- Radon levels in Hamilton 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 Hamilton County (community 180080), participates in the National Flood Insurance Program and carries Community Rating System class 7, a flood insurance premium discount for policies written there. The EPA places Hamilton 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. The best Community Rating System class among the county's communities is 7, which carries a flood insurance premium discount for policies written in that community. 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 Hamilton 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 Hamilton County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-2024365,056
- Households137,252
- Average household size2.66
- Median household income$121,530
- Median age38.4
Common questions
Hamilton County questions, answered from the record.
How many people live in Hamilton County, Indiana?
The Census Bureau estimates 379,704 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 365,056, in 137,252 households, ranking 4th of 92 Indiana counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Hamilton County's population growing?
The population has grown 9.27 percent since the 2020 census base of 347,491, to 379,704 on July 1, 2024. In 2024 there were 3,904 births against 2,301 deaths, with net migration of 5,487. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Hamilton County?
$121,530. The median owner-occupied home is valued at $405,500, which is 3.3 times income, and median gross rent is $1,574 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Hamilton County?
10,446 establishments, employing 165,539 people with an annual payroll of $11.04 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Hamilton County?
Health care and social assistance is the largest private sector at 22,096 jobs, 13.5 percent of covered employment. Covered employment averages 163,937 jobs at an average annual pay of $74,787, or $1,438 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Hamilton County?
940 7(a) approvals totaling $453.8 m since FY2020, across 92 lenders, with a median approval of $175,000, plus 180 504 approvals worth $167.3 m since FY2010. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Hamilton County get paid back?
Of the 202 loans that have reached a final outcome, 189 were paid in full and 13 charged off, a charge-off rate of 6.4 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Hamilton County?
4,561 housing units were authorized by permit in 2024, with a declared construction value of $1.53 bn. Multifamily was 36.7 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Hamilton 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 Hamilton County come from?
The largest single origin is Marion County, with 4,193 households. Arriving households report an average income of $116,177 against $103,921 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Hamilton 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 Hamilton 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.
Hamilton County
Cities and places in Hamilton.
12 Census places lie wholly or partly in Hamilton County. All 12 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 |
|---|---|---|---|---|
| Fishers | city | 102,337 | 273 | Wholly in this county |
| Carmel | city | 101,651 | 274 | Wholly in this county |
| Noblesville | city | 73,362 | 177 | Wholly in this county |
| Westfield | city | 54,677 | 98 | Wholly in this county |
| Cicero | town | 5,509 | 18 | Wholly in this county |
| Sheridan | town | 3,205 | 16 | Wholly in this county |
| Arcadia | town | 1,556 | 8 | Wholly in this county |
| Atlanta | town | 816 | 5 | Wholly in this county |
| Hortonville | CDP | 229 | None recorded | Wholly in this county |
| Fishersburg | CDP | 190 | None recorded | 7.7 percent here, 92.3 percent Madison County |
| Boxley | CDP | 113 | None recorded | Wholly in this county |
| Riverwood | CDP | 87 | None recorded | Wholly in this county |
A further 71 of the county's 940 SBA 7(a) approvals are to borrowers in cities that match no Census place in Hamilton County, the largest being Indianapolis (52), Zionsville (8), McCordsville (4). 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