Buchanan County, Virginia: commercial real estate data.
Buchanan County, Virginia had an estimated 18,632 residents on July 1, 2024, down 8.4 percent since the 2020 census base of 20,346, across 503 square miles. County output reached $1.40 bn in 2024, 343 establishments operate here, and the SBA record carries 3 7(a) approvals worth $2.9 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Buchanan County
How many people live in Buchanan County
- Population, American Community Survey 2020-202419,415
- Households7,530
- Average household size2.58
- Median household income$42,886
- Median age47.8
- Median gross rent$743 per month
- Median owner-occupied home value$94,900
- Home value to household income2.2 times
- Annual rent as a share of median income20.8 percent
- Adults 25 and over with a bachelor degree or higher11.5 percent
- Adults 25 and over with a graduate degree5.5 percent
- Adults 25 and over14,909
- Population under 183,252
- Share under 1816.7 percent
- Population 65 and over4,633
- Share 65 and over23.9 percent
- Working age population, 18 to 6411,530
- Civilian labor force5,599
- Unemployment rate3.9 percent
- Labor force participation, adults 18 and over34.6 percent
- Rank by population among Virginia counties81st of 133
- Rank by population among US county-equivalents, Puerto Rico included1915th of 3,222
Buchanan County is the 81st largest of 133 Virginia counties by population. A median home costs 2.2 times median household income, which is affordable by national standards. Residents 65 and over outnumber those under 18, at 23.9 percent against 16.7 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.
Buchanan County
Is Buchanan County's population growing?
- Population, July 1, 202418,632
- Census 2020 base population20,346
- Population change since the 2020 census base-8.42 percent
- Population change, 2023 to 2024-346
- Births, 2024160
- Deaths, 2024406
- Natural change, 2024-246
- Net domestic migration, 2024-117
- Net international migration, 202417
- Total net migration, 2024-100
- Cumulative net domestic migration, 2021 to 2024-679
- Rank by growth among US county-equivalents3108th of 3,144
The county has lost 8.42 percent of its population 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.
Buchanan County
Where are people moving to Buchanan County from?
- Tax returns filed by households arriving248
- People arriving, from those returns442
- Tax returns filed by households leaving309
- Net household movement-61
- Adjusted gross income arriving$8.9 m
- Net adjusted gross income movement$-6.3 m
- Average income of an arriving household$35,940
- Average income of a leaving household$49,311
- Largest single originTazewell County (42 households)
- Largest single destinationTazewell County (64 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Tazewell County | 42 | 92 | $1.5 m |
| Russell County | 22 | 46 | $869,000 |
Households arriving report $13,371 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Tazewell 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.
Buchanan County
What is the Buchanan County economy?
- County GDP, 2024$1.40 bn
- County GDP, 2023$1.50 bn
- GDP change, 2023 to 2024-6.8 percent
- GDP change over five years46.9 percent
- Rank by GDP among the Virginia areas BEA publishes56th of 105
- Rank by GDP among the US county areas BEA publishes1573rd of 3,127
- GDP per resident$71,942
Output grew -6.8 percent in the latest year and 46.9 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.
Buchanan County
Employment by industry in Buchanan County
- Covered employment, annual average6,056
- Establishments reporting555
- Average annual pay$62,429
- Average weekly wage$1,201
- Health care and social assistance, employment670
- Health care and social assistance, average annual pay$62,805
- Retail trade, employment653
- Retail trade, average annual pay$27,941
- Manufacturing, employment242
- Manufacturing, average annual pay$83,805
- Professional, scientific and technical services, employment201
- Professional, scientific and technical services, average annual pay$68,116
- Wholesale trade, employment183
- Educational services, employment164
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 670 | 144 | $62,805 |
| Retail trade | 653 | 55 | $27,941 |
| Manufacturing | 242 | 18 | $83,805 |
| Professional, scientific and technical services | 201 | 60 | $68,116 |
| Wholesale trade | 183 | 13 | $72,763 |
| Educational services | 164 | 5 | $58,869 |
| Administrative and support and waste management services | 162 | 16 | $36,229 |
| Other services, except public administration | 130 | 38 | $36,286 |
Health care and social assistance is the largest private sector at 670 jobs, 11.1 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Buchanan County
How many businesses are in Buchanan County?
- Establishments, all industries343
- Employment at those establishments4,687
- Annual payroll$310.0 m
- Establishments per 1,000 residents17.7
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.
Buchanan County
Building permits in Buchanan County
- Housing units authorized by permit, 202412
- Declared construction value permitted$2.2 m
- Single family units authorized12
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$180,571
- Units authorized per 1,000 households1.6
Single-family homes are 100.0 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Buchanan County
SBA loans in Buchanan County (7(a) and 504)
- 7(a) approvals recorded3
- 7(a) gross approval dollars$2.9 m
- Average 7(a) approval$967,367
- Median 7(a) approval$550,000
- Largest single approval$2,071,500
- Jobs reported supported, 7(a)117
- Jobs per approval39.0
- Distinct 7(a) lenders active3
- Distinct industries receiving approvals2
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer0.0 percent
- Loans on real estate terms0
- Loans on working capital terms, 120 months or shorter3
- Franchise loans0
- Franchise share of approvals0.0 percent
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Buchanan County
SBA loan default and charge-off rates in Buchanan County
Do SBA loans in Buchanan County get paid back?
- Loans with a final outcome recorded1
- Paid in full1
- Charged off0
- Status: Exempt from disclosure1
- Status: Paid in full1
- Status: Cancelled1
Only 1 loan has 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.
Buchanan County
SBA lending by place in Buchanan County
- Borrower cities with recorded lending2
- Raven, approvals2
- Hurley, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Raven | 2 | $2,621,500 |
| Hurley | 1 | $280,600 |
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Buchanan County
How large is Buchanan County?
- Land area503 sq mi
- Rank by land area among Virginia counties24th of 133
- Width, east to west31.2 mi
- Height, north to south34.3 mi
- Geographies sharing a boundary6
- Residents per square mile of land39
- Establishments per square mile0.68
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.
Buchanan County
Flood risk in Buchanan County
- Participation of the county's own NFIP community Buchanan County, unincorporated areasParticipating, community 510024
- Communities in the county in the NFIP Community Status Book2
- Of those, participating in the NFIP2
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Buchanan County, EPA zone predicted average indoor radon screening level from 2 to 4 pCi/LZone 2
The county's own community in the status book, unincorporated Buchanan County (community 510024), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Buchanan County in radon zone 2, a predicted average indoor radon screening level from 2 to 4 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 Buchanan 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 Buchanan County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202419,415
- Households7,530
- Average household size2.58
- Median household income$42,886
- Median age47.8
Common questions
Buchanan County questions, answered from the record.
How many people live in Buchanan County, Virginia?
The Census Bureau estimates 18,632 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 19,415, in 7,530 households, ranking 81st of 133 Virginia counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Buchanan County's population growing?
The population has fallen 8.42 percent since the 2020 census base of 20,346, to 18,632 on July 1, 2024. In 2024 there were 160 births against 406 deaths, with net migration of -100. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Buchanan County?
$42,886. The median owner-occupied home is valued at $94,900, which is 2.2 times income, and median gross rent is $743 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Buchanan County?
343 establishments, employing 4,687 people with an annual payroll of $310.0 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 Buchanan County?
Health care and social assistance is the largest private sector at 670 jobs, 11.1 percent of covered employment. Covered employment averages 6,056 jobs at an average annual pay of $62,429, or $1,201 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Buchanan County?
3 7(a) approvals totaling $2.9 m since FY2020, across 3 lenders, with a median approval of $550,000. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Buchanan County?
12 housing units were authorized by permit in 2024, with a declared construction value of $2.2 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Buchanan County?
Zone 2, a predicted average indoor radon screening level from 2 to 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 Buchanan County come from?
The largest single origin is Tazewell County, with 42 households. Arriving households report an average income of $35,940 against $49,311 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Buchanan 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 Buchanan 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.
Buchanan County
Cities and places in Buchanan.
4 Census places lie wholly or partly in Buchanan County. All 4 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 |
|---|---|---|---|---|
| Grundy | town | 872 | None recorded | Wholly in this county |
| Vansant | CDP | 551 | None recorded | Wholly in this county |
| Big Rock | CDP | 384 | None recorded | Wholly in this county |
| Breaks | CDP | 208 | None recorded | 95.1 percent here, 4.9 percent Dickenson County |
A further 3 of the county's 3 SBA 7(a) approvals are to borrowers in cities that match no Census place in Buchanan County, the largest being Raven (2), Hurley (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.