Henry County, Indiana: commercial real estate data.
Henry County, Indiana had an estimated 49,081 residents on July 1, 2024, up 0.3 percent since the 2020 census base of 48,915, across 392 square miles. County output reached $2.02 bn in 2024, 833 establishments operate here, and the SBA record carries 62 7(a) approvals worth $21.6 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Henry County
How many people live in Henry County
- Population, American Community Survey 2020-202448,970
- Households18,642
- Average household size2.63
- Median household income$63,150
- Median age42.2
- Median gross rent$820 per month
- Median owner-occupied home value$154,400
- Home value to household income2.4 times
- Annual rent as a share of median income15.6 percent
- Adults 25 and over with a bachelor degree or higher17.4 percent
- Adults 25 and over with a graduate degree6.1 percent
- Adults 25 and over35,221
- Population under 189,904
- Share under 1820.2 percent
- Population 65 and over9,588
- Share 65 and over19.6 percent
- Working age population, 18 to 6429,478
- Civilian labor force21,768
- Unemployment rate3.7 percent
- Labor force participation, adults 18 and over55.7 percent
- Rank by population among Indiana counties29th of 92
- Rank by population among US county-equivalents, Puerto Rico included1027th of 3,222
Henry County is the 29th largest of 92 Indiana counties by population. A median home costs 2.4 times median household income, which is affordable by national standards. Residents under 18 outnumber those 65 and over, at 20.2 percent against 19.6 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Henry County
Is Henry County's population growing?
- Population, July 1, 202449,081
- Census 2020 base population48,915
- Population change since the 2020 census base0.34 percent
- Population change, 2023 to 202488
- Births, 2024457
- Deaths, 2024632
- Natural change, 2024-175
- Net domestic migration, 2024260
- Net international migration, 20246
- Total net migration, 2024266
- Cumulative net domestic migration, 2021 to 20241,120
- Rank by growth among US county-equivalents1706th of 3,144
The county has grown 0.34 percent since the 2020 census base. Deaths exceeded births in 2024 and the population still grew, so all of the growth came from people moving in. A market held up by migration is more sensitive to a change in relative cost than one growing from household formation.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Henry County
Where are people moving to Henry County from?
- Tax returns filed by households arriving1,271
- People arriving, from those returns2,248
- Tax returns filed by households leaving1,221
- Net household movement50
- Adjusted gross income arriving$57.6 m
- Net adjusted gross income movement$-980,000
- Average income of an arriving household$45,344
- Average income of a leaving household$48,003
- Largest single originMadison County (191 households)
- Largest single destinationDelaware County (161 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Madison County | 191 | 353 | $8.0 m |
| Hancock County | 172 | 333 | $9.0 m |
| Marion County | 139 | 257 | $6.2 m |
| Delaware County | 112 | 193 | $4.9 m |
| Wayne County | 85 | 155 | $3.1 m |
| Hamilton County | 56 | 98 | $4.1 m |
| Rush County | 48 | 77 | $1.8 m |
| Johnson County | 22 | 41 | $1.3 m |
Households arriving report $2,659 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Madison 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.
Henry County
What is the Henry County economy?
- County GDP, 2024$2.02 bn
- County GDP, 2023$1.96 bn
- GDP change, 2023 to 20243.0 percent
- GDP change over five years38.5 percent
- Rank by GDP among the Indiana areas BEA publishes46th of 92
- Rank by GDP among the US county areas BEA publishes1271st of 3,127
- GDP per resident$41,218
Output grew 3.0 percent in the latest year and 38.5 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.
Henry County
Employment by industry in Henry County
- Covered employment, annual average13,759
- Establishments reporting893
- Average annual pay$48,142
- Average weekly wage$926
- Manufacturing, employment3,195
- Manufacturing, average annual pay$59,800
- Retail trade, employment1,710
- Retail trade, average annual pay$31,952
- Accommodation and food services, employment1,166
- Accommodation and food services, average annual pay$22,070
- Administrative and support and waste management services, employment632
- Administrative and support and waste management services, average annual pay$57,183
- Construction, employment600
- Other services, except public administration, employment450
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Manufacturing | 3,195 | 57 | $59,800 |
| Retail trade | 1,710 | 149 | $31,952 |
| Accommodation and food services | 1,166 | 75 | $22,070 |
| Administrative and support and waste management services | 632 | 41 | $57,183 |
| Construction | 600 | 103 | $58,608 |
| Other services, except public administration | 450 | 61 | $30,356 |
| Wholesale trade | 355 | 52 | $50,104 |
| Finance and insurance | 208 | 44 | $66,384 |
Manufacturing is the largest private sector at 3,195 jobs, 23.2 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Henry County
How many businesses are in Henry County?
- Establishments, all industries833
- Employment at those establishments10,929
- Annual payroll$483.3 m
- Establishments per 1,000 residents17.0
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.
Henry County
Building permits in Henry County
- Housing units authorized by permit, 202451
- Declared construction value permitted$13.7 m
- Single family units authorized43
- Multifamily units authorized8
- Multifamily share of units15.7 percent
- Average declared value per unit$268,041
- Units authorized per 1,000 households2.7
Single-family homes are 84.3 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Henry County
SBA loans in Henry County (7(a) and 504)
- 7(a) approvals recorded62
- 7(a) gross approval dollars$21.6 m
- Average 7(a) approval$348,976
- Median 7(a) approval$142,750
- 10th percentile approval$31,000
- 90th percentile approval$853,090
- Largest single approval$2,933,600
- Jobs reported supported, 7(a)572
- Jobs per approval9.2
- Distinct 7(a) lenders active20
- Distinct industries receiving approvals33
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer19.4 percent
- Loans on real estate terms12
- Loans on working capital terms, 120 months or shorter46
- Franchise loans5
- Franchise share of approvals8.1 percent
- Leading industry by approval countAll Other Specialty Trade Contractors (5)
- Most active lenderCitizens State Bank of New Castle (13)
- 504 approvals recorded8
- 504 gross approval dollars$3.3 m
- Average 504 approval$409,375
- Median 504 approval$199,500
- Distinct CDCs active2
- 504 jobs per approval5.9
- 504 jobs per million dollars approved14.4
- Most active CDCIndiana Statewide Certified Development Corporation (6)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$24.9 m
The average approval of $348,976 sits well above the median of $142,750, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 19.4 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.
Henry County
SBA loan default and charge-off rates in Henry County
Do SBA loans in Henry County get paid back?
- Loans with a final outcome recorded11
- Paid in full9
- Charged off2
- Status: Exempt from disclosure39
- Status: Paid in full9
- Status: Cancelled8
- Status: Charged off2
- Status: Committed, not yet disbursed4
Only 11 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.
Henry County
SBA lending by place in Henry County
- Borrower cities with recorded lending11
- New Castle, approvals33
- Knightstown, approvals11
- Middletown, approvals8
- Shirley, approvals2
- Straughn, approvals2
- Middleton, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| New Castle | 33 | $11,989,000 |
| Knightstown | 11 | $1,702,000 |
| Middletown | 8 | $2,826,700 |
| Shirley | 2 | $355,600 |
| Straughn | 2 | $295,000 |
| Middleton | 1 | $2,456,900 |
| Cambridge City | 1 | $1,310,300 |
| New Caslte | 1 | $300,000 |
| 3 other borrower cities | 3 | $401,000 |
New Castle accounts for 33 approvals against 11 in Knightstown. 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.
Henry County
How large is Henry County?
- Land area392 sq mi
- Rank by land area among Indiana counties51st of 92
- Width, east to west21 mi
- Height, north to south20.1 mi
- Geographies sharing a boundary7
- Residents per square mile of land125
- Establishments per square mile2.13
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.
Henry County
Flood risk in Henry County
- Participation of the county's own NFIP community Henry County, unincorporated areasParticipating, community 180437
- Communities in the county in the NFIP Community Status Book12
- Of those, participating in the NFIP8
- NFIP participation rate66.7 percent
- Communities carrying a CRS class0
- Radon levels in Henry 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 Henry County (community 180437), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Henry 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. 66.7 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 Henry 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 Henry County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202448,970
- Households18,642
- Average household size2.63
- Median household income$63,150
- Median age42.2
Common questions
Henry County questions, answered from the record.
How many people live in Henry County, Indiana?
The Census Bureau estimates 49,081 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 48,970, in 18,642 households, ranking 29th of 92 Indiana counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Henry County's population growing?
The population has grown 0.34 percent since the 2020 census base of 48,915, to 49,081 on July 1, 2024. In 2024 there were 457 births against 632 deaths, with net migration of 266. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Henry County?
$63,150. The median owner-occupied home is valued at $154,400, which is 2.4 times income, and median gross rent is $820 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Henry County?
833 establishments, employing 10,929 people with an annual payroll of $483.3 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 Henry County?
Manufacturing is the largest private sector at 3,195 jobs, 23.2 percent of covered employment. Covered employment averages 13,759 jobs at an average annual pay of $48,142, or $926 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Henry County?
62 7(a) approvals totaling $21.6 m since FY2020, across 20 lenders, with a median approval of $142,750, plus 8 504 approvals worth $3.3 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Henry County?
51 housing units were authorized by permit in 2024, with a declared construction value of $13.7 m. Multifamily was 15.7 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Henry 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 Henry County come from?
The largest single origin is Madison County, with 191 households. Arriving households report an average income of $45,344 against $48,003 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Henry 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 Henry 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.
Henry County
Cities and places in Henry.
19 Census places lie wholly or partly in Henry County. All 19 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 |
|---|---|---|---|---|
| New Castle | city | 17,367 | 33 | Wholly in this county |
| Knightstown | town | 2,241 | 11 | Wholly in this county |
| Middletown | town | 2,235 | 8 | Wholly in this county |
| Shirley | town | 1,022 | 2 | 25.3 percent here, 74.7 percent Hancock County |
| Spiceland | town | 840 | 1 | Wholly in this county |
| Mount Summit | town | 713 | None recorded | Wholly in this county |
| Westwood | CDP | 584 | None recorded | Wholly in this county |
| Mooreland | town | 493 | None recorded | Wholly in this county |
| Sulphur Springs | town | 454 | None recorded | Wholly in this county |
| Kennard | town | 415 | None recorded | Wholly in this county |
| Lewisville | town | 282 | 1 | Wholly in this county |
| Straughn | town | 229 | 2 | Wholly in this county |
| Cadiz | town | 226 | None recorded | Wholly in this county |
| Dunreith | town | 204 | None recorded | Wholly in this county |
| Greensboro | town | 178 | None recorded | Wholly in this county |
| Blountsville | town | 170 | None recorded | Wholly in this county |
| Springport | town | 154 | None recorded | Wholly in this county |
| New Lisbon | CDP | 79 | None recorded | Wholly in this county |
| Millville | CDP | 8 | None recorded | Wholly in this county |
A further 4 of the county's 62 SBA 7(a) approvals are to borrowers in cities that match no Census place in Henry County, the largest being Middleton (1), Cambridge City (1), New Caslte (1). 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.