Galax city, Virginia: commercial real estate data.
Galax city, Virginia has a population of 6,726 across 8 square miles, up 0.2 percent since the 2020 census base. 311 establishments operate here, and the SBA record carries 14 7(a) approvals worth $5.9 m.
97 sourced county values · tier FULL · 9 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Galax city
How many people live in Galax city
- Population6,726
- 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-equivalents2755th
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 an affordable ownership market 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 change since the 2020 census base0.18 percent
- Census 2020 base population6,727
- 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
The county has grown 0.18 percent since the 2020 census base.
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
- Adjusted gross income arriving$10.3 m
- Net adjusted gross income movement$0
- Average income of an arriving household$42,172
- Largest single originGalax city Non-migrants (2,298 households)
- Largest single destination (2,298 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Galax city Non-migrants | 2,298 | 4,536 | $120.9 m |
| Carroll County | 78 | 145 | $2.8 m |
| Other flows - Different State | 64 | 131 | $3.1 m |
| Other flows - South | 64 | 131 | $3.1 m |
| Grayson County | 63 | 130 | $2.6 m |
| Other flows - Same State | 39 | 75 | $1.8 m |
The largest single source of arrivals is Galax city Non-migrants, 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
Largest employers in Galax city
- Covered employment, annual average5,805
- Establishments reporting400
- Average annual pay$41,651
- Average weekly wage$801
- Sector 31-33, employment1,252
- Sector 31-33, average annual pay$44,034
- Sector 44-45, employment999
- Sector 44-45, average annual pay$32,051
- Sector 72, employment451
- Sector 72, average annual pay$21,646
- Sector 56, employment198
- Sector 56, average annual pay$34,495
- Sector 81, employment108
- Sector 52, employment97
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 31-33 | 1,252 | 14 | $44,034 |
| Sector 44-45 | 999 | 61 | $32,051 |
| Sector 72 | 451 | 32 | $21,646 |
| Sector 56 | 198 | 15 | $34,495 |
| Sector 81 | 108 | 23 | $43,862 |
| Sector 52 | 97 | 22 | $59,532 |
| Sector 54 | 88 | 21 | $53,510 |
| Sector 51 | 68 | 8 | $36,321 |
The largest sector is the biggest private employer group at 1,252 jobs, 21.6 percent of covered employment. Average pay per job exceeds median household income, which usually means single earner households and a wage base that can carry rent.
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.
US Census Bureau, County Business Patterns, 2023.
Galax city
Building permits in Galax city
- Housing units authorised by permit, 202410
- Declared construction value permitted$3.0 m
- Single family units authorised10
- Multifamily units authorised0
- Multifamily share of units0.0 percent
- Average declared value per unit$302,641
- Units authorised per 1,000 households3.6
Multifamily is 0.0 percent of units authorised, so the pipeline is predominantly for sale product.
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$222,000
- 10th percentile approval$45,700
- 90th percentile approval$1,100,000
- 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)
The average approval of $424,200 sits well above the median of $222,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. 42.9 percent of approvals run on real estate terms of 240 months or more, so this is a market where SBA credit is buying buildings, not just funding operations.
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
Too few loans have reached a final outcome to publish a charge off rate. only 1 resolved loans, too few to publish a rate. A rate computed on a handful of loans is noise, so none is shown.
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.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No 504 approvals recorded in this county in the FOIA release covering FY2010 onward.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
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.
- Population6,726
- 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?
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. 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 the average wage in Galax city?
Average annual pay is $41,651, or $801 a week, across 5,805 covered jobs. 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 totalling $5.9 m since FY2020, across 7 lenders, with a median approval of $222,000. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Galax city?
10 housing units were authorised 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 Galax city Non-migrants, with 2,298 households. Arriving households report an average income of $42,172 against null 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?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.