Galax city, Virginia: commercial real estate data.
Galax city, Virginia had an estimated 6,739 residents on July 1, 2024, up 0.2 percent since the 2020 census base of 6,727, across 8 square miles. 311 establishments operate here, and the SBA record carries 14 7(a) approvals worth $5.9 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Galax city
How many people live in Galax city
- Population, American Community Survey 2020-20246,726
- Households2,763
- Average household size2.43
- Median household income$38,675
- Median age42.9
- Median gross rent$743 per month
- Median owner-occupied home value$141,300
- Home value to household income3.7 times
- Annual rent as a share of median income23.1 percent
- Adults 25 and over with a bachelor degree or higher19.1 percent
- Adults 25 and over with a graduate degree7.3 percent
- Adults 25 and over4,462
- Population under 181,669
- Share under 1824.8 percent
- Population 65 and over1,418
- Share 65 and over21.1 percent
- Working age population, 18 to 643,639
- Civilian labor force2,945
- Unemployment rate5.1 percent
- Labor force participation, adults 18 and over58.2 percent
- Rank by population among Virginia independent cities122nd of 133
- Rank by population among US county-equivalents, Puerto Rico included2755th of 3,222
Galax city is the 122nd largest of 133 Virginia independent cities by population. A median home costs 3.7 times median household income, which is moderately unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 24.8 percent against 21.1 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Galax city
Is Galax city's population growing?
- Population, July 1, 20246,739
- Census 2020 base population6,727
- Population change since the 2020 census base0.18 percent
- Population change, 2023 to 2024-60
- Births, 2024124
- Deaths, 2024135
- Natural change, 2024-11
- Net domestic migration, 2024-46
- Net international migration, 2024-1
- Total net migration, 2024-47
- Cumulative net domestic migration, 2021 to 2024113
- Rank by growth among US county-equivalents1765th of 3,144
The county has grown 0.18 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.
Galax city
Where are people moving to Galax city from?
- Tax returns filed by households arriving244
- People arriving, from those returns481
- Tax returns filed by households leaving236
- Net household movement8
- Adjusted gross income arriving$10.3 m
- Net adjusted gross income movement$-655,000
- Average income of an arriving household$42,172
- Average income of a leaving household$46,377
- Largest single originCarroll County (78 households)
- Largest single destinationCarroll County (82 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Carroll County | 78 | 145 | $2.8 m |
| Grayson County | 63 | 130 | $2.6 m |
Households arriving report $4,205 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Carroll 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.
Galax city
Employment by industry in Galax city
- Covered employment, annual average5,805
- Establishments reporting400
- Average annual pay$41,651
- Average weekly wage$801
- Manufacturing, employment1,252
- Manufacturing, average annual pay$44,034
- Retail trade, employment999
- Retail trade, average annual pay$32,051
- Accommodation and food services, employment451
- Accommodation and food services, average annual pay$21,646
- Administrative and support and waste management services, employment198
- Administrative and support and waste management services, average annual pay$34,495
- Other services, except public administration, employment108
- Finance and insurance, employment97
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Manufacturing | 1,252 | 14 | $44,034 |
| Retail trade | 999 | 61 | $32,051 |
| Accommodation and food services | 451 | 32 | $21,646 |
| Administrative and support and waste management services | 198 | 15 | $34,495 |
| Other services, except public administration | 108 | 23 | $43,862 |
| Finance and insurance | 97 | 22 | $59,532 |
| Professional, scientific and technical services | 88 | 21 | $53,510 |
| Information | 68 | 8 | $36,321 |
Manufacturing is the largest private sector at 1,252 jobs, 21.6 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Galax city
How many businesses are in Galax city?
- Establishments, all industries311
- Employment at those establishments4,771
- Annual payroll$189.1 m
- Establishments per 1,000 residents46.2
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.
Galax city
Building permits in Galax city
- Housing units authorized by permit, 202410
- Declared construction value permitted$3.0 m
- Single family units authorized10
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$302,641
- Units authorized per 1,000 households3.6
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.
Galax city
SBA loans in Galax city (7(a) and 504)
- 7(a) approvals recorded14
- 7(a) gross approval dollars$5.9 m
- Average 7(a) approval$424,200
- Median 7(a) approval$211,000
- Largest single approval$1,499,400
- Jobs reported supported, 7(a)101
- Jobs per approval7.2
- Distinct 7(a) lenders active7
- Distinct industries receiving approvals10
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer42.9 percent
- Loans on real estate terms6
- Loans on working capital terms, 120 months or shorter8
- Franchise loans1
- Franchise share of approvals7.1 percent
- Leading industry by approval countLandscaping Services (4)
- Most active lenderSkyline National Bank (7)
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Galax city
SBA loan default and charge-off rates in Galax city
Do SBA loans in Galax city get paid back?
- Loans with a final outcome recorded1
- Paid in full1
- Charged off0
- Status: Exempt from disclosure11
- Status: Paid in full1
- Status: Cancelled1
- Status: Committed, not yet disbursed1
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.
Galax city
How large is Galax city?
- Land area8 sq mi
- Rank by land area among Virginia independent cities124th of 133
- Width, east to west3.9 mi
- Height, north to south4.5 mi
- Geographies sharing a boundary2
- Residents per square mile of land841
- Establishments per square mile38.88
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.
Galax city
Flood risk in Galax city
- Participation of the county's own NFIP community Galax, city ofNot participating, community 510066
- Communities in the county in the NFIP Community Status Book1
- Of those, participating in the NFIP0
- NFIP participation rate0.0 percent
- Communities carrying a CRS class0
- Radon levels in Galax city, EPA zone predicted average indoor radon screening level from 2 to 4 pCi/LZone 2
The county's own community in the status book, the City of Galax (community 510066), does not participate in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Galax city 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. 0.0 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 Galax city 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 Galax city site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-20246,726
- Households2,763
- Average household size2.43
- Median household income$38,675
- Median age42.9
Common questions
Galax city questions, answered from the record.
How many people live in Galax city, Virginia?
The Census Bureau estimates 6,739 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 6,726, in 2,763 households, ranking 122nd of 133 Virginia counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Galax city's population growing?
The population has grown 0.18 percent since the 2020 census base of 6,727, to 6,739 on July 1, 2024. In 2024 there were 124 births against 135 deaths, with net migration of -47. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Galax city?
$38,675. The median owner-occupied home is valued at $141,300, which is 3.7 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 Galax city?
311 establishments, employing 4,771 people with an annual payroll of $189.1 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 Galax city?
Manufacturing is the largest private sector at 1,252 jobs, 21.6 percent of covered employment. Covered employment averages 5,805 jobs at an average annual pay of $41,651, or $801 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Galax city?
14 7(a) approvals totaling $5.9 m since FY2020, across 7 lenders, with a median approval of $211,000. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Galax city?
10 housing units were authorized by permit in 2024, with a declared construction value of $3.0 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Galax city?
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 Galax city come from?
The largest single origin is Carroll County, with 78 households. Arriving households report an average income of $42,172 against $46,377 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Galax city 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 Galax city?
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.
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