HomeNorth CarolinaUnion County
Union County, North Carolina: commercial real estate data.
Union County, North Carolina had an estimated 263,386 residents on July 1, 2024, up 10.6 percent since the 2020 census base of 238,237, across 632 square miles. County output reached $13.11 bn in 2024, 5,732 establishments operate here, and the SBA record carries 289 7(a) approvals worth $159.6 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Union County
How many people live in Union County
- Population, American Community Survey 2020-2024250,958
- Households84,237
- Average household size2.98
- Median household income$102,900
- Median age39.2
- Median gross rent$1,496 per month
- Median owner-occupied home value$417,300
- Home value to household income4.1 times
- Annual rent as a share of median income17.4 percent
- Adults 25 and over with a bachelor degree or higher40.5 percent
- Adults 25 and over with a graduate degree14.1 percent
- Adults 25 and over162,928
- Population under 1864,232
- Share under 1825.6 percent
- Population 65 and over33,972
- Share 65 and over13.5 percent
- Working age population, 18 to 64152,754
- Civilian labor force132,592
- Unemployment rate4.2 percent
- Labor force participation, adults 18 and over71.0 percent
- Rank by population among North Carolina counties8th of 100
- Rank by population among US county-equivalents, Puerto Rico included286th of 3,222
Union County is the 8th largest of 100 North Carolina counties by population. A median home costs 4.1 times median household income, which is seriously unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 25.6 percent against 13.5 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Union County
Is Union County's population growing?
- Population, July 1, 2024263,386
- Census 2020 base population238,237
- Population change since the 2020 census base10.56 percent
- Population change, 2023 to 20245,876
- Births, 20242,559
- Deaths, 20241,808
- Natural change, 2024751
- Net domestic migration, 20243,669
- Net international migration, 20241,479
- Total net migration, 20245,148
- Cumulative net domestic migration, 2021 to 202417,435
- Rank by growth among US county-equivalents134th of 3,144
The county has grown 10.56 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.
Union County
Where are people moving to Union County from?
- Tax returns filed by households arriving8,112
- People arriving, from those returns17,456
- Tax returns filed by households leaving6,196
- Net household movement1,916
- Adjusted gross income arriving$879.6 m
- Net adjusted gross income movement$244.9 m
- Average income of an arriving household$108,429
- Average income of a leaving household$102,440
- Largest single originMecklenburg County (3,124 households)
- Largest single destinationMecklenburg County (1,893 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Mecklenburg County | 3,124 | 6,615 | $340.0 m |
| Cabarrus County | 221 | 499 | $19.0 m |
| Lancaster County | 202 | 438 | $17.0 m |
| York County | 162 | 370 | $14.5 m |
| Wake County | 91 | 178 | $9.2 m |
| Suffolk County | 87 | 213 | $8.5 m |
| Anson County | 84 | 169 | $3.3 m |
| Gaston County | 78 | 141 | $4.1 m |
Households arriving report $5,989 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 Mecklenburg 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.
Union County
What is the Union County economy?
- County GDP, 2024$13.11 bn
- County GDP, 2023$12.18 bn
- GDP change, 2023 to 20247.6 percent
- GDP change over five years58.2 percent
- Rank by GDP among the North Carolina areas BEA publishes10th of 100
- Rank by GDP among the US county areas BEA publishes357th of 3,127
- GDP per resident$52,250
Output grew 7.6 percent in the latest year and 58.2 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.
Union County
Employment by industry in Union County
- Covered employment, annual average74,299
- Establishments reporting7,848
- Average annual pay$61,500
- Average weekly wage$1,183
- Manufacturing, employment12,424
- Manufacturing, average annual pay$70,526
- Construction, employment10,057
- Construction, average annual pay$81,876
- Retail trade, employment8,237
- Retail trade, average annual pay$38,131
- Accommodation and food services, employment6,297
- Accommodation and food services, average annual pay$21,470
- Health care and social assistance, employment5,162
- Administrative and support and waste management services, employment4,812
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Manufacturing | 12,424 | 288 | $70,526 |
| Construction | 10,057 | 1,121 | $81,876 |
| Retail trade | 8,237 | 650 | $38,131 |
| Accommodation and food services | 6,297 | 383 | $21,470 |
| Health care and social assistance | 5,162 | 567 | $52,788 |
| Administrative and support and waste management services | 4,812 | 668 | $57,246 |
| Wholesale trade | 3,205 | 542 | $101,326 |
| Professional, scientific and technical services | 3,094 | 1,243 | $85,734 |
Manufacturing is the largest private sector at 12,424 jobs, 16.7 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Union County
How many businesses are in Union County?
- Establishments, all industries5,732
- Employment at those establishments66,082
- Annual payroll$3.52 bn
- Establishments per 1,000 residents22.8
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.
Union County
Building permits in Union County
- Housing units authorized by permit, 20242,334
- Declared construction value permitted$536.5 m
- Single family units authorized2,166
- Multifamily units authorized168
- Multifamily share of units7.2 percent
- Average declared value per unit$229,859
- Units authorized per 1,000 households27.7
Single-family homes are 92.8 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Union County
SBA loans in Union County (7(a) and 504)
- 7(a) approvals recorded289
- 7(a) gross approval dollars$159.6 m
- Average 7(a) approval$552,274
- Median 7(a) approval$250,000
- 10th percentile approval$34,000
- 90th percentile approval$1,582,600
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)2,507
- Jobs per approval8.7
- Distinct 7(a) lenders active63
- Distinct industries receiving approvals126
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer16.3 percent
- Loans on real estate terms47
- Loans on working capital terms, 120 months or shorter225
- Franchise loans59
- Franchise share of approvals20.4 percent
- Leading industry by approval countFitness and Recreational Sports Centers (10)
- Most active lenderThe Huntington National Bank (23)
- 504 approvals recorded49
- 504 gross approval dollars$47.8 m
- Average 504 approval$976,041
- Median 504 approval$576,000
- Distinct CDCs active4
- 504 jobs per approval14.7
- 504 jobs per million dollars approved15.0
- Most active CDCBusiness Expansion Funding Corporation (37)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$207.4 m
The average approval of $552,274 sits well above the median of $250,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 16.3 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.
Union County
SBA loan default and charge-off rates in Union County
Do SBA loans in Union County get paid back?
- Loans with a final outcome recorded53
- Paid in full50
- Charged off3
- Charge-off rate on resolved loans5.7 percent
- Status: Paid in full50
- Status: Exempt from disclosure196
- Status: Charged off3
- Status: Cancelled32
- Status: Committed, not yet disbursed8
Of the 53 loans that have reached a final outcome, 5.7 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.
Union County
SBA lending by place in Union County
- Borrower cities with recorded lending11
- Monroe, approvals99
- Waxhaw, approvals72
- Indian Trail, approvals57
- Matthews, approvals33
- Stallings, approvals10
- Weddington, approvals7
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Monroe | 99 | $74,983,000 |
| Waxhaw | 72 | $37,451,300 |
| Indian Trail | 57 | $25,339,300 |
| Matthews | 33 | $8,253,400 |
| Stallings | 10 | $4,465,700 |
| Weddington | 7 | $3,015,000 |
| Wingate | 3 | $3,029,000 |
| Charlotte | 3 | $1,012,000 |
| 3 other borrower cities | 5 | $2,058,500 |
Monroe accounts for 99 approvals against 72 in Waxhaw. 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.
Union County
How large is Union County?
- Land area632 sq mi
- Rank by land area among North Carolina counties23rd of 100
- Width, east to west32 mi
- Height, north to south27.2 mi
- Geographies sharing a boundary6
- Residents per square mile of land397
- Establishments per square mile9.07
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.
Union County
Flood risk in Union County
- Participation of the county's own NFIP community Union County, unincorporated areasParticipating, community 370234
- Communities in the county in the NFIP Community Status Book15
- Of those, participating in the NFIP15
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Union County, EPA zone predicted average indoor radon screening level less than 2 pCi/LZone 3
The county's own community in the status book, unincorporated Union County (community 370234), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Union County in radon zone 3, a predicted average indoor radon screening level less than 2 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. 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 Union 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 Union County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-2024250,958
- Households84,237
- Average household size2.98
- Median household income$102,900
- Median age39.2
Common questions
Union County questions, answered from the record.
How many people live in Union County, North Carolina?
The Census Bureau estimates 263,386 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 250,958, in 84,237 households, ranking 8th of 100 North Carolina counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Union County's population growing?
The population has grown 10.56 percent since the 2020 census base of 238,237, to 263,386 on July 1, 2024. In 2024 there were 2,559 births against 1,808 deaths, with net migration of 5,148. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Union County?
$102,900. The median owner-occupied home is valued at $417,300, which is 4.1 times income, and median gross rent is $1,496 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Union County?
5,732 establishments, employing 66,082 people with an annual payroll of $3.52 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 Union County?
Manufacturing is the largest private sector at 12,424 jobs, 16.7 percent of covered employment. Covered employment averages 74,299 jobs at an average annual pay of $61,500, or $1,183 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Union County?
289 7(a) approvals totaling $159.6 m since FY2020, across 63 lenders, with a median approval of $250,000, plus 49 504 approvals worth $47.8 m since FY2010. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Union County get paid back?
Of the 53 loans that have reached a final outcome, 50 were paid in full and 3 charged off, a charge-off rate of 5.7 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Union County?
2,334 housing units were authorized by permit in 2024, with a declared construction value of $536.5 m. Multifamily was 7.2 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Union County?
Zone 3, a predicted average indoor radon screening level less than 2 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Union County come from?
The largest single origin is Mecklenburg County, with 3,124 households. Arriving households report an average income of $108,429 against $102,440 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Union 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 Union 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.
Union County
Cities and places in Union.
15 Census places lie wholly or partly in Union County. All 15 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 |
|---|---|---|---|---|
| Indian Trail | town | 42,036 | 57 | Wholly in this county |
| Monroe | city | 36,759 | 99 | Wholly in this county |
| Waxhaw | town | 22,275 | 72 | Wholly in this county |
| Stallings | town | 16,886 | 10 | 96.9 percent here, 3.1 percent Mecklenburg County |
| Weddington | town | 13,805 | 7 | Wholly in this county |
| Wesley Chapel | village | 9,090 | 1 | Wholly in this county |
| Unionville | town | 6,954 | None recorded | Wholly in this county |
| Marvin | village | 6,692 | 2 | Wholly in this county |
| Wingate | town | 4,425 | 3 | Wholly in this county |
| Fairview | town | 3,619 | None recorded | Wholly in this county |
| Lake Park | village | 3,431 | None recorded | Wholly in this county |
| Mineral Springs | town | 3,314 | 2 | Wholly in this county |
| Marshville | town | 2,615 | None recorded | Wholly in this county |
| Hemby Bridge | town | 2,096 | None recorded | Wholly in this county |
| JAARS | CDP | 715 | None recorded | Wholly in this county |
A further 36 of the county's 289 SBA 7(a) approvals are to borrowers in cities that match no Census place in Union County, the largest being Matthews (33), Charlotte (3). 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.