HomeVirginiaChesterfield County
Chesterfield County, Virginia: commercial real estate data.
Chesterfield County, Virginia had an estimated 389,793 residents on July 1, 2024, up 7.1 percent since the 2020 census base of 364,087, across 423 square miles. County output reached $24.00 bn in 2024, 8,257 establishments operate here, and the SBA record carries 271 7(a) approvals worth $148.9 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Chesterfield County
How many people live in Chesterfield County
- Population, American Community Survey 2020-2024377,869
- Households140,155
- Average household size2.70
- Median household income$101,931
- Median age39.0
- Median gross rent$1,629 per month
- Median owner-occupied home value$366,000
- Home value to household income3.6 times
- Annual rent as a share of median income19.2 percent
- Adults 25 and over with a bachelor degree or higher43.8 percent
- Adults 25 and over with a graduate degree16.9 percent
- Adults 25 and over256,373
- Population under 1889,540
- Share under 1823.7 percent
- Population 65 and over60,831
- Share 65 and over16.1 percent
- Working age population, 18 to 64227,498
- Civilian labor force200,687
- Unemployment rate4.6 percent
- Labor force participation, adults 18 and over69.6 percent
- Rank by population among Virginia counties5th of 133
- Rank by population among US county-equivalents, Puerto Rico included197th of 3,222
Chesterfield County is the 5th largest of 133 Virginia counties by population. A median home costs 3.6 times median household income, which is moderately unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 23.7 percent against 16.1 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Chesterfield County
Is Chesterfield County's population growing?
- Population, July 1, 2024389,793
- Census 2020 base population364,087
- Population change since the 2020 census base7.06 percent
- Population change, 2023 to 20245,100
- Births, 20244,217
- Deaths, 20243,021
- Natural change, 20241,196
- Net domestic migration, 20242,096
- Net international migration, 20241,821
- Total net migration, 20243,917
- Cumulative net domestic migration, 2021 to 202415,544
- Rank by growth among US county-equivalents306th of 3,144
The county has grown 7.06 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.
Chesterfield County
Where are people moving to Chesterfield County from?
- Tax returns filed by households arriving12,805
- People arriving, from those returns23,802
- Tax returns filed by households leaving10,595
- Net household movement2,210
- Adjusted gross income arriving$970.1 m
- Net adjusted gross income movement$225.6 m
- Average income of an arriving household$75,756
- Average income of a leaving household$70,264
- Largest single originRichmond city (2,569 households)
- Largest single destinationRichmond city (1,855 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Richmond city | 2,569 | 4,573 | $145.6 m |
| Henrico County | 1,912 | 3,612 | $160.9 m |
| Petersburg city | 364 | 665 | $15.8 m |
| Hanover County | 275 | 466 | $18.7 m |
| Colonial Heights city | 259 | 477 | $12.4 m |
| Fairfax County | 241 | 443 | $28.1 m |
| Powhatan County | 238 | 419 | $19.2 m |
| Prince George County | 235 | 481 | $14.1 m |
Households arriving report $5,492 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 Richmond city, 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.
Chesterfield County
What is the Chesterfield County economy?
- County GDP, 2024$24.00 bn
- County GDP, 2023$22.43 bn
- GDP change, 2023 to 20247.0 percent
- GDP change over five years40.9 percent
- Rank by GDP among the Virginia areas BEA publishes9th of 105
- Rank by GDP among the US county areas BEA publishes228th of 3,127
- GDP per resident$63,520
Output grew 7.0 percent in the latest year and 40.9 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.
Chesterfield County
Employment by industry in Chesterfield County
- Covered employment, annual average145,905
- Establishments reporting10,284
- Average annual pay$62,685
- Average weekly wage$1,205
- Retail trade, employment18,165
- Retail trade, average annual pay$39,109
- Health care and social assistance, employment17,487
- Health care and social assistance, average annual pay$59,481
- Transportation and warehousing, employment13,120
- Transportation and warehousing, average annual pay$63,530
- Accommodation and food services, employment13,032
- Accommodation and food services, average annual pay$24,550
- Construction, employment11,020
- Administrative and support and waste management services, employment9,344
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Retail trade | 18,165 | 907 | $39,109 |
| Health care and social assistance | 17,487 | 2,218 | $59,481 |
| Transportation and warehousing | 13,120 | 254 | $63,530 |
| Accommodation and food services | 13,032 | 625 | $24,550 |
| Construction | 11,020 | 1,031 | $79,883 |
| Administrative and support and waste management services | 9,344 | 604 | $48,360 |
| Manufacturing | 8,742 | 244 | $80,779 |
| Professional, scientific and technical services | 8,240 | 1,228 | $115,128 |
Retail trade is the largest private sector at 18,165 jobs, 12.4 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Chesterfield County
How many businesses are in Chesterfield County?
- Establishments, all industries8,257
- Employment at those establishments124,728
- Annual payroll$7.18 bn
- Establishments per 1,000 residents21.9
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.
Chesterfield County
Building permits in Chesterfield County
- Housing units authorized by permit, 20242,307
- Declared construction value permitted$417.2 m
- Single family units authorized1,845
- Multifamily units authorized462
- Multifamily share of units20.0 percent
- Average declared value per unit$180,856
- Units authorized per 1,000 households16.5
Single-family homes are 80.0 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Chesterfield County
SBA loans in Chesterfield County (7(a) and 504)
- 7(a) approvals recorded271
- 7(a) gross approval dollars$148.9 m
- Average 7(a) approval$549,581
- Median 7(a) approval$220,600
- 10th percentile approval$20,000
- 90th percentile approval$1,515,000
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)3,102
- Jobs per approval11.4
- Distinct 7(a) lenders active54
- Distinct industries receiving approvals115
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer11.8 percent
- Loans on real estate terms32
- Loans on working capital terms, 120 months or shorter224
- Franchise loans66
- Franchise share of approvals24.4 percent
- Leading industry by approval countFull-Service Restaurants (15)
- Most active lenderManufacturers and Traders Trust Company (28)
- 504 approvals recorded72
- 504 gross approval dollars$48.7 m
- Average 504 approval$675,958
- Median 504 approval$500,500
- Distinct CDCs active4
- 504 jobs per approval13.0
- 504 jobs per million dollars approved19.2
- Most active CDCBusiness Finance Group, Inc. (56)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$197.6 m
The average approval of $549,581 sits well above the median of $220,600, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 11.8 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.
Chesterfield County
SBA loan default and charge-off rates in Chesterfield County
Do SBA loans in Chesterfield County get paid back?
- Loans with a final outcome recorded48
- Paid in full44
- Charged off4
- Charge-off rate on resolved loans8.3 percent
- Status: Cancelled34
- Status: Exempt from disclosure175
- Status: Charged off4
- Status: Paid in full44
- Status: Committed, not yet disbursed14
Of the 48 loans that have reached a final outcome, 8.3 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.
Chesterfield County
SBA lending by place in Chesterfield County
- Borrower cities with recorded lending10
- Midlothian, approvals113
- North Chesterfield, approvals54
- Chesterfield, approvals35
- Richmond, approvals29
- Chester, approvals26
- Moseley, approvals6
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Midlothian | 113 | $53,030,700 |
| North Chesterfield | 54 | $44,076,600 |
| Chesterfield | 35 | $8,358,200 |
| Richmond | 29 | $14,827,100 |
| Chester | 26 | $20,585,800 |
| Moseley | 6 | $1,983,000 |
| South Chesterfield | 5 | $1,010,000 |
| Colonial Heights | 1 | $2,715,000 |
| 2 other borrower cities | 2 | $2,350,000 |
Midlothian accounts for 113 approvals against 54 in North Chesterfield. 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.
Chesterfield County
How large is Chesterfield County?
- Land area423 sq mi
- Rank by land area among Virginia counties41st of 133
- Width, east to west33.6 mi
- Height, north to south23.5 mi
- Geographies sharing a boundary10
- Residents per square mile of land893
- Establishments per square mile19.52
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.
Chesterfield County
Flood risk in Chesterfield County
- Participation of the county's own NFIP community Chesterfield County, unincorporated areasParticipating, community 510035
- Communities in the county in the NFIP Community Status Book1
- Of those, participating in the NFIP1
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Chesterfield 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 Chesterfield County (community 510035), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Chesterfield 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. 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 Chesterfield 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 Chesterfield County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-2024377,869
- Households140,155
- Average household size2.70
- Median household income$101,931
- Median age39.0
Common questions
Chesterfield County questions, answered from the record.
How many people live in Chesterfield County, Virginia?
The Census Bureau estimates 389,793 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 377,869, in 140,155 households, ranking 5th of 133 Virginia counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Chesterfield County's population growing?
The population has grown 7.06 percent since the 2020 census base of 364,087, to 389,793 on July 1, 2024. In 2024 there were 4,217 births against 3,021 deaths, with net migration of 3,917. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Chesterfield County?
$101,931. The median owner-occupied home is valued at $366,000, which is 3.6 times income, and median gross rent is $1,629 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Chesterfield County?
8,257 establishments, employing 124,728 people with an annual payroll of $7.18 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 Chesterfield County?
Retail trade is the largest private sector at 18,165 jobs, 12.4 percent of covered employment. Covered employment averages 145,905 jobs at an average annual pay of $62,685, or $1,205 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Chesterfield County?
271 7(a) approvals totaling $148.9 m since FY2020, across 54 lenders, with a median approval of $220,600, plus 72 504 approvals worth $48.7 m since FY2010. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Chesterfield County get paid back?
Of the 48 loans that have reached a final outcome, 44 were paid in full and 4 charged off, a charge-off rate of 8.3 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Chesterfield County?
2,307 housing units were authorized by permit in 2024, with a declared construction value of $417.2 m. Multifamily was 20.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Chesterfield 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 Chesterfield County come from?
The largest single origin is Richmond city, with 2,569 households. Arriving households report an average income of $75,756 against $70,264 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Chesterfield 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 Chesterfield 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.
Chesterfield County
Cities and places in Chesterfield.
13 Census places lie wholly or partly in Chesterfield County. All 13 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 |
|---|---|---|---|---|
| Chester | CDP | 24,474 | 26 | Wholly in this county |
| Meadowbrook | CDP | 20,749 | None recorded | Wholly in this county |
| Midlothian | CDP | 19,120 | 113 | Wholly in this county |
| Bon Air | CDP | 16,904 | 1 | Wholly in this county |
| Brandermill | CDP | 13,730 | None recorded | Wholly in this county |
| Manchester | CDP | 12,445 | None recorded | Wholly in this county |
| Rockwood | CDP | 10,010 | None recorded | Wholly in this county |
| Bellwood | CDP | 7,907 | None recorded | Wholly in this county |
| Woodlake | CDP | 7,358 | None recorded | Wholly in this county |
| Bensley | CDP | 5,949 | None recorded | Wholly in this county |
| Ettrick | CDP | 5,910 | None recorded | Wholly in this county |
| Enon | CDP | 4,137 | None recorded | Wholly in this county |
| Matoaca | CDP | 2,724 | None recorded | Wholly in this county |
A further 131 of the county's 271 SBA 7(a) approvals are to borrowers in cities that match no Census place in Chesterfield County, the largest being North Chesterfield (54), Chesterfield (35), Richmond (29). 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.