HomeNorth CarolinaWatauga County
Watauga County, North Carolina: commercial real estate data.
Watauga County, North Carolina had an estimated 54,997 residents on July 1, 2024, up 1.7 percent since the 2020 census base of 54,079, across 313 square miles. County output reached $3.19 bn in 2024, 1,740 establishments operate here, and the SBA record carries 48 7(a) approvals worth $25.8 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Watauga County
How many people live in Watauga County
- Population, American Community Survey 2020-202455,123
- Households21,198
- Average household size2.60
- Median household income$51,693
- Median age31.4
- Median gross rent$1,127 per month
- Median owner-occupied home value$358,900
- Home value to household income6.9 times
- Annual rent as a share of median income26.2 percent
- Adults 25 and over with a bachelor degree or higher48.1 percent
- Adults 25 and over with a graduate degree21.7 percent
- Adults 25 and over31,109
- Population under 186,676
- Share under 1812.1 percent
- Population 65 and over9,435
- Share 65 and over17.1 percent
- Working age population, 18 to 6439,012
- Civilian labor force29,053
- Unemployment rate7.9 percent
- Labor force participation, adults 18 and over60.0 percent
- Rank by population among North Carolina counties48th of 100
- Rank by population among US county-equivalents, Puerto Rico included945th of 3,222
Watauga County is the 48th largest of 100 North Carolina counties by population. A median home costs 6.9 times median household income, which is severely unaffordable by national standards. Residents 65 and over outnumber those under 18, at 17.1 percent against 12.1 percent, which points demand at health care, services and single story product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Watauga County
Is Watauga County's population growing?
- Population, July 1, 202454,997
- Census 2020 base population54,079
- Population change since the 2020 census base1.70 percent
- Population change, 2023 to 2024-423
- Births, 2024296
- Deaths, 2024429
- Natural change, 2024-133
- Net domestic migration, 2024-509
- Net international migration, 2024216
- Total net migration, 2024-293
- Cumulative net domestic migration, 2021 to 2024689
- Rank by growth among US county-equivalents1271st of 3,144
The county has grown 1.70 percent since the 2020 census base. The population fell in 2024 from both sources: deaths exceeded births and more people left than moved in.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Watauga County
Where are people moving to Watauga County from?
- Tax returns filed by households arriving1,607
- People arriving, from those returns2,547
- Tax returns filed by households leaving1,817
- Net household movement-210
- Adjusted gross income arriving$145.5 m
- Net adjusted gross income movement$17.7 m
- Average income of an arriving household$90,554
- Average income of a leaving household$70,358
- Largest single originMecklenburg County (98 households)
- Largest single destinationWake County (109 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Mecklenburg County | 98 | 143 | $12.4 m |
| Wake County | 92 | 146 | $13.0 m |
| Ashe County | 61 | 106 | $2.3 m |
| Avery County | 56 | 106 | $3.5 m |
| Iredell County | 34 | 56 | $2.7 m |
| Wilkes County | 34 | 49 | $1.0 m |
| Guilford County | 33 | 50 | $1.6 m |
| Caldwell County | 32 | 41 | $2.2 m |
Households arriving report $20,196 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.
Watauga County
What is the Watauga County economy?
- County GDP, 2024$3.19 bn
- County GDP, 2023$3.06 bn
- GDP change, 2023 to 20244.3 percent
- GDP change over five years35.8 percent
- Rank by GDP among the North Carolina areas BEA publishes42nd of 100
- Rank by GDP among the US county areas BEA publishes935th of 3,127
- GDP per resident$57,918
Output grew 4.3 percent in the latest year and 35.8 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.
Watauga County
Employment by industry in Watauga County
- Covered employment, annual average25,106
- Establishments reporting2,018
- Average annual pay$48,024
- Average weekly wage$924
- Accommodation and food services, employment4,300
- Accommodation and food services, average annual pay$22,204
- Health care and social assistance, employment3,864
- Health care and social assistance, average annual pay$65,945
- Retail trade, employment3,504
- Retail trade, average annual pay$30,974
- Construction, employment1,082
- Construction, average annual pay$52,752
- Arts, entertainment and recreation, employment922
- Administrative and support and waste management services, employment911
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Accommodation and food services | 4,300 | 205 | $22,204 |
| Health care and social assistance | 3,864 | 176 | $65,945 |
| Retail trade | 3,504 | 292 | $30,974 |
| Construction | 1,082 | 257 | $52,752 |
| Arts, entertainment and recreation | 922 | 44 | $28,408 |
| Administrative and support and waste management services | 911 | 129 | $42,360 |
| Professional, scientific and technical services | 908 | 246 | $83,111 |
| Real estate and rental and leasing | 764 | 168 | $46,492 |
Accommodation and food services is the largest private sector at 4,300 jobs, 17.1 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Watauga County
How many businesses are in Watauga County?
- Establishments, all industries1,740
- Employment at those establishments20,781
- Annual payroll$898.7 m
- Establishments per 1,000 residents31.6
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.
Watauga County
Building permits in Watauga County
- Housing units authorized by permit, 2024296
- Declared construction value permitted$176.6 m
- Single family units authorized268
- Multifamily units authorized28
- Multifamily share of units9.5 percent
- Average declared value per unit$596,646
- Units authorized per 1,000 households14.0
Single-family homes are 90.5 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Watauga County
SBA loans in Watauga County (7(a) and 504)
- 7(a) approvals recorded48
- 7(a) gross approval dollars$25.8 m
- Average 7(a) approval$537,090
- Median 7(a) approval$205,000
- 10th percentile approval$23,500
- 90th percentile approval$2,079,850
- Largest single approval$2,292,500
- Jobs reported supported, 7(a)467
- Jobs per approval9.7
- Distinct 7(a) lenders active20
- Distinct industries receiving approvals35
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer6.3 percent
- Loans on real estate terms3
- Loans on working capital terms, 120 months or shorter35
- Franchise loans0
- Franchise share of approvals0.0 percent
- Leading industry by approval countWindow Treatment Retailers (5)
- Most active lenderWells Fargo Bank National Association (6)
- 504 approvals recorded5
- 504 gross approval dollars$8.9 m
- Average 504 approval$1,789,200
- Median 504 approval$1,369,000
- Distinct CDCs active2
- 504 jobs per approval17.0
- 504 jobs per million dollars approved9.5
- Most active CDCCarolina Business Capital, Inc. (3)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$34.7 m
The average approval of $537,090 sits well above the median of $205,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 6.3 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.
Watauga County
SBA loan default and charge-off rates in Watauga County
Do SBA loans in Watauga County get paid back?
- Loans with a final outcome recorded16
- Paid in full13
- Charged off3
- Status: Paid in full13
- Status: Charged off3
- Status: Exempt from disclosure21
- Status: Cancelled9
- Status: Committed, not yet disbursed2
Only 16 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.
Watauga County
SBA lending by place in Watauga County
- Borrower cities with recorded lending6
- Boone, approvals36
- Blowing Rock, approvals6
- Deep Gap, approvals3
- Todd, approvals1
- Sugar Grove, approvals1
- Zionville, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Boone | 36 | $22,376,100 |
| Blowing Rock | 6 | $1,464,100 |
| Deep Gap | 3 | $157,300 |
| Todd | 1 | $1,632,800 |
| Sugar Grove | 1 | $100,000 |
| Zionville | 1 | $50,000 |
Boone accounts for 36 approvals against 6 in Blowing Rock. 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.
Watauga County
How large is Watauga County?
- Land area313 sq mi
- Rank by land area among North Carolina counties81st of 100
- Width, east to west25.8 mi
- Height, north to south19.1 mi
- Geographies sharing a boundary5
- Residents per square mile of land176
- Establishments per square mile5.56
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.
Watauga County
Flood risk in Watauga County
- Participation of the county's own NFIP community Watauga County, unincorporated areasParticipating, community 370251
- Community Rating System class of the county's own communityClass 8
- Communities in the county in the NFIP Community Status Book4
- Of those, participating in the NFIP4
- 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 6
- Communities carrying a CRS class2
- Radon levels in Watauga 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 Watauga County (community 370251), participates in the National Flood Insurance Program and carries Community Rating System class 8, a flood insurance premium discount for policies written there. The EPA places Watauga 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 6, 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 Watauga 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 Watauga County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202455,123
- Households21,198
- Average household size2.60
- Median household income$51,693
- Median age31.4
Common questions
Watauga County questions, answered from the record.
How many people live in Watauga County, North Carolina?
The Census Bureau estimates 54,997 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 55,123, in 21,198 households, ranking 48th of 100 North Carolina counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Watauga County's population growing?
The population has grown 1.70 percent since the 2020 census base of 54,079, to 54,997 on July 1, 2024. In 2024 there were 296 births against 429 deaths, with net migration of -293. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Watauga County?
$51,693. The median owner-occupied home is valued at $358,900, which is 6.9 times income, and median gross rent is $1,127 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Watauga County?
1,740 establishments, employing 20,781 people with an annual payroll of $898.7 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 Watauga County?
Accommodation and food services is the largest private sector at 4,300 jobs, 17.1 percent of covered employment. Covered employment averages 25,106 jobs at an average annual pay of $48,024, or $924 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Watauga County?
48 7(a) approvals totaling $25.8 m since FY2020, across 20 lenders, with a median approval of $205,000, plus 5 504 approvals worth $8.9 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Watauga County?
296 housing units were authorized by permit in 2024, with a declared construction value of $176.6 m. Multifamily was 9.5 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Watauga 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 Watauga County come from?
The largest single origin is Mecklenburg County, with 98 households. Arriving households report an average income of $90,554 against $70,358 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Watauga 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 Watauga 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.
Watauga County
Cities and places in Watauga.
7 Census places lie wholly or partly in Watauga County. All 7 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 |
|---|---|---|---|---|
| Boone | town | 20,032 | 36 | Wholly in this county |
| Cove Creek | CDP | 1,629 | None recorded | Wholly in this county |
| Foscoe | CDP | 1,226 | None recorded | Wholly in this county |
| Blowing Rock | town | 992 | 6 | 86.1 percent here, 13.9 percent Caldwell County |
| Beech Mountain | town | 987 | None recorded | 78.6 percent here, 21.4 percent Avery County |
| Seven Devils | town | 425 | None recorded | 72.1 percent here, 27.9 percent Avery County |
| Valle Crucis | CDP | 242 | None recorded | Wholly in this county |
A further 6 of the county's 48 SBA 7(a) approvals are to borrowers in cities that match no Census place in Watauga County, the largest being Deep Gap (3), Todd (1), Sugar Grove (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.