Henrico County, Virginia: commercial real estate data.
Henrico County, Virginia had an estimated 338,696 residents on July 1, 2024, up 1.1 percent since the 2020 census base of 334,961, across 234 square miles. County output reached $37.56 bn in 2024, 9,754 establishments operate here, and the SBA record carries 304 7(a) approvals worth $178.3 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Henrico County
How many people live in Henrico County
- Population, American Community Survey 2020-2024335,744
- Households137,365
- Average household size2.44
- Median household income$88,783
- Median age39.4
- Median gross rent$1,541 per month
- Median owner-occupied home value$359,200
- Home value to household income4.0 times
- Annual rent as a share of median income20.8 percent
- Adults 25 and over with a bachelor degree or higher46.5 percent
- Adults 25 and over with a graduate degree19.4 percent
- Adults 25 and over236,135
- Population under 1873,554
- Share under 1821.9 percent
- Population 65 and over56,918
- Share 65 and over17.0 percent
- Working age population, 18 to 64205,272
- Civilian labor force184,890
- Unemployment rate3.9 percent
- Labor force participation, adults 18 and over70.5 percent
- Rank by population among Virginia counties6th of 133
- Rank by population among US county-equivalents, Puerto Rico included220th of 3,222
Henrico County is the 6th largest of 133 Virginia counties by population. A median home costs 4.0 times median household income, which is moderately unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 21.9 percent against 17.0 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Henrico County
Is Henrico County's population growing?
- Population, July 1, 2024338,696
- Census 2020 base population334,961
- Population change since the 2020 census base1.12 percent
- Population change, 2023 to 20242,967
- Births, 20243,673
- Deaths, 20243,234
- Natural change, 2024439
- Net domestic migration, 2024-336
- Net international migration, 20242,858
- Total net migration, 20242,522
- Cumulative net domestic migration, 2021 to 2024-5,503
- Rank by growth among US county-equivalents1439th of 3,144
The county has grown 1.12 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.
Henrico County
Where are people moving to Henrico County from?
- Tax returns filed by households arriving12,097
- People arriving, from those returns19,731
- Tax returns filed by households leaving12,326
- Net household movement-229
- Adjusted gross income arriving$908.1 m
- Net adjusted gross income movement$-112.7 m
- Average income of an arriving household$75,071
- Average income of a leaving household$82,818
- Largest single originRichmond city (3,370 households)
- Largest single destinationRichmond city (2,421 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Richmond city | 3,370 | 5,309 | $257.9 m |
| Chesterfield County | 1,307 | 2,148 | $76.7 m |
| Hanover County | 765 | 1,282 | $48.7 m |
| Fairfax County | 267 | 456 | $31.2 m |
| Goochland County | 248 | 412 | $23.1 m |
| Virginia Beach city | 133 | 215 | $10.6 m |
| Albemarle County | 95 | 145 | $6.2 m |
| Prince William County | 95 | 171 | $6.5 m |
Households arriving report $7,747 less average income than households leaving, which drains spending power even where headcount holds up. 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.
Henrico County
What is the Henrico County economy?
- County GDP, 2024$37.56 bn
- County GDP, 2023$36.08 bn
- GDP change, 2023 to 20244.1 percent
- GDP change over five years20.7 percent
- Rank by GDP among the Virginia areas BEA publishes4th of 105
- Rank by GDP among the US county areas BEA publishes158th of 3,127
- GDP per resident$111,885
Output grew 4.1 percent in the latest year and 20.7 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.
Henrico County
Employment by industry in Henrico County
- Covered employment, annual average187,647
- Establishments reporting12,661
- Average annual pay$70,541
- Average weekly wage$1,357
- Health care and social assistance, employment28,827
- Health care and social assistance, average annual pay$65,911
- Retail trade, employment20,475
- Retail trade, average annual pay$40,076
- Professional, scientific and technical services, employment18,668
- Professional, scientific and technical services, average annual pay$102,708
- Accommodation and food services, employment15,007
- Accommodation and food services, average annual pay$27,305
- Administrative and support and waste management services, employment13,844
- Finance and insurance, employment11,097
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 28,827 | 2,674 | $65,911 |
| Retail trade | 20,475 | 1,070 | $40,076 |
| Professional, scientific and technical services | 18,668 | 1,759 | $102,708 |
| Accommodation and food services | 15,007 | 778 | $27,305 |
| Administrative and support and waste management services | 13,844 | 697 | $53,264 |
| Finance and insurance | 11,097 | 760 | $131,659 |
| Construction | 10,050 | 753 | $80,249 |
| Management of companies and enterprises | 8,327 | 150 | $134,450 |
Health care and social assistance is the largest private sector at 28,827 jobs, 15.4 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Henrico County
How many businesses are in Henrico County?
- Establishments, all industries9,754
- Employment at those establishments183,459
- Annual payroll$12.47 bn
- Establishments per 1,000 residents29.1
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.
Henrico County
Building permits in Henrico County
- Housing units authorized by permit, 20241,826
- Declared construction value permitted$267.2 m
- Single family units authorized921
- Multifamily units authorized905
- Multifamily share of units49.6 percent
- Average declared value per unit$146,353
- Units authorized per 1,000 households13.3
Multifamily is 49.6 percent of units authorized, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Henrico County
SBA loans in Henrico County (7(a) and 504)
- 7(a) approvals recorded304
- 7(a) gross approval dollars$178.3 m
- Average 7(a) approval$586,486
- Median 7(a) approval$200,000
- 10th percentile approval$25,000
- 90th percentile approval$1,377,300
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)4,469
- Jobs per approval14.7
- Distinct 7(a) lenders active61
- Distinct industries receiving approvals124
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer7.6 percent
- Loans on real estate terms23
- Loans on working capital terms, 120 months or shorter268
- Franchise loans66
- Franchise share of approvals21.7 percent
- Leading industry by approval countGeneral Automotive Repair (13)
- Most active lenderManufacturers and Traders Trust Company (44)
- 504 approvals recorded74
- 504 gross approval dollars$57.1 m
- Average 504 approval$772,284
- Median 504 approval$464,000
- Distinct CDCs active4
- 504 jobs per approval17.1
- 504 jobs per million dollars approved22.1
- Most active CDCBusiness Finance Group, Inc. (53)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$235.4 m
The average approval of $586,486 sits well above the median of $200,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 7.6 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.
Henrico County
SBA loan default and charge-off rates in Henrico County
Do SBA loans in Henrico County get paid back?
- Loans with a final outcome recorded30
- Paid in full26
- Charged off4
- Charge-off rate on resolved loans13.3 percent
- Status: Exempt from disclosure197
- Status: Paid in full26
- Status: Cancelled46
- Status: Charged off4
- Status: Committed, not yet disbursed31
Of the 30 loans that have reached a final outcome, 13.3 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.
Henrico County
SBA lending by place in Henrico County
- Borrower cities with recorded lending8
- Henrico, approvals112
- Richmond, approvals107
- Glen Allen, approvals70
- Sandston, approvals9
- Highland Springs, approvals2
- Midlothian, approvals2
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Henrico | 112 | $54,854,000 |
| Richmond | 107 | $64,239,700 |
| Glen Allen | 70 | $33,899,100 |
| Sandston | 9 | $18,695,000 |
| Highland Springs | 2 | $328,800 |
| Midlothian | 2 | $125,000 |
| Quinton | 1 | $5,000,000 |
| Fredericksburg | 1 | $1,150,000 |
Henrico accounts for 112 approvals against 107 in Richmond. 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.
Henrico County
How large is Henrico County?
- Land area234 sq mi
- Rank by land area among Virginia counties81st of 133
- Width, east to west26.1 mi
- Height, north to south22.9 mi
- Geographies sharing a boundary6
- Residents per square mile of land1,435
- Establishments per square mile41.68
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.
Henrico County
Flood risk in Henrico County
- Participation of the county's own NFIP community Henrico County, unincorporated areasParticipating, community 510077
- Community Rating System class of the county's own communityClass 5
- Communities in the county in the NFIP Community Status Book1
- Of those, participating in the NFIP1
- 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 5
- Communities carrying a CRS class1
- Radon levels in Henrico County, EPA zone predicted average indoor radon screening level less than 2 pCi/LZone 3
The county's own community in the status book, unincorporated Henrico County (community 510077), participates in the National Flood Insurance Program and carries Community Rating System class 5, a flood insurance premium discount for policies written there. The EPA places Henrico County in radon zone 3, a predicted average indoor radon screening level less than 2 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 5, 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 Henrico 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 Henrico County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-2024335,744
- Households137,365
- Average household size2.44
- Median household income$88,783
- Median age39.4
Common questions
Henrico County questions, answered from the record.
How many people live in Henrico County, Virginia?
The Census Bureau estimates 338,696 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 335,744, in 137,365 households, ranking 6th of 133 Virginia counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Henrico County's population growing?
The population has grown 1.12 percent since the 2020 census base of 334,961, to 338,696 on July 1, 2024. In 2024 there were 3,673 births against 3,234 deaths, with net migration of 2,522. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Henrico County?
$88,783. The median owner-occupied home is valued at $359,200, which is 4.0 times income, and median gross rent is $1,541 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Henrico County?
9,754 establishments, employing 183,459 people with an annual payroll of $12.47 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 Henrico County?
Health care and social assistance is the largest private sector at 28,827 jobs, 15.4 percent of covered employment. Covered employment averages 187,647 jobs at an average annual pay of $70,541, or $1,357 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Henrico County?
304 7(a) approvals totaling $178.3 m since FY2020, across 61 lenders, with a median approval of $200,000, plus 74 504 approvals worth $57.1 m since FY2010. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Henrico County get paid back?
Of the 30 loans that have reached a final outcome, 26 were paid in full and 4 charged off, a charge-off rate of 13.3 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Henrico County?
1,826 housing units were authorized by permit in 2024, with a declared construction value of $267.2 m. Multifamily was 49.6 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Henrico County?
Zone 3, a predicted average indoor radon screening level less than 2 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Henrico County come from?
The largest single origin is Richmond city, with 3,370 households. Arriving households report an average income of $75,071 against $82,818 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Henrico 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 Henrico 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.
Henrico County
Cities and places in Henrico.
13 Census places lie wholly or partly in Henrico 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 |
|---|---|---|---|---|
| Tuckahoe | CDP | 49,183 | None recorded | Wholly in this county |
| Short Pump | CDP | 29,026 | None recorded | Wholly in this county |
| Laurel | CDP | 18,721 | None recorded | Wholly in this county |
| Glen Allen | CDP | 17,551 | 70 | Wholly in this county |
| East Highland Park | CDP | 15,265 | None recorded | Wholly in this county |
| Highland Springs | CDP | 14,296 | 2 | Wholly in this county |
| Lakeside | CDP | 12,654 | None recorded | Wholly in this county |
| Wyndham | CDP | 12,099 | None recorded | Wholly in this county |
| Innsbrook | CDP | 8,578 | None recorded | Wholly in this county |
| Montrose | CDP | 8,285 | None recorded | Wholly in this county |
| Dumbarton | CDP | 7,997 | None recorded | Wholly in this county |
| Sandston | CDP | 7,399 | 9 | Wholly in this county |
| Chamberlayne | CDP | 4,692 | None recorded | Wholly in this county |
A further 223 of the county's 304 SBA 7(a) approvals are to borrowers in cities that match no Census place in Henrico County, the largest being Henrico (112), Richmond (107), Midlothian (2). 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.
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