Henrico County, Virginia: commercial real estate data.
Henrico County, Virginia has a population of 335,744 across 234 square miles, up 1.1 percent since the 2020 census base. 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.
123 sourced county values · tier FULL · 11 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Henrico County
How many people live in Henrico County
- Population335,744
- 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-equivalents220th
Henrico County is the 6th largest of 133 Virginia counties by population. A median home costs 4.0 times median household income, which is an affordable ownership market 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 change since the 2020 census base1.12 percent
- Census 2020 base population334,961
- 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
The county has grown 1.12 percent since the 2020 census base. Migration contributed more to 2024 change than births over deaths, so demand here follows people arriving rather than families forming.
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
- Adjusted gross income arriving$908.1 m
- Net adjusted gross income movement$0
- Average income of an arriving household$75,071
- Largest single originHenrico County Non-migrants (128,873 households)
- Largest single destination (128,873 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Henrico County Non-migrants | 128,873 | 253,530 | $13.56 bn |
| Richmond city | 3,370 | 5,309 | $257.9 m |
| Other flows - Different State | 2,256 | 3,883 | $183.6 m |
| Chesterfield County | 1,307 | 2,148 | $76.7 m |
| Other flows - South | 1,017 | 1,740 | $73.8 m |
| Hanover County | 765 | 1,282 | $48.7 m |
| Other flows - Northeast | 523 | 907 | $46.2 m |
| Other flows - Same State | 517 | 742 | $30.4 m |
The largest single source of arrivals is Henrico County 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.
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 Virginia counties4th
- Rank by GDP among US county-equivalents158th
- 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
Largest employers in Henrico County
- Covered employment, annual average187,647
- Establishments reporting12,661
- Average annual pay$70,541
- Average weekly wage$1,357
- Sector 62, employment28,827
- Sector 62, average annual pay$65,911
- Sector 44-45, employment20,475
- Sector 44-45, average annual pay$40,076
- Sector 54, employment18,668
- Sector 54, average annual pay$102,708
- Sector 72, employment15,007
- Sector 72, average annual pay$27,305
- Sector 56, employment13,844
- Sector 52, employment11,097
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 28,827 | 2,674 | $65,911 |
| Sector 44-45 | 20,475 | 1,070 | $40,076 |
| Sector 54 | 18,668 | 1,759 | $102,708 |
| Sector 72 | 15,007 | 778 | $27,305 |
| Sector 56 | 13,844 | 697 | $53,264 |
| Sector 52 | 11,097 | 760 | $131,659 |
| Sector 23 | 10,050 | 753 | $80,249 |
| Sector 55 | 8,327 | 150 | $134,450 |
The largest sector is the biggest private employer group at 28,827 jobs, 15.4 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
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.
US Census Bureau, County Business Patterns, 2023.
Henrico County
Building permits in Henrico County
- Housing units authorised by permit, 20241,826
- Declared construction value permitted$267.2 m
- Single family units authorised921
- Multifamily units authorised905
- Multifamily share of units49.6 percent
- Average declared value per unit$146,353
- Units authorised per 1,000 households13.3
Multifamily is 49.6 percent of units authorised, 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$1,393,200
- 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$473,000
- Distinct CDCs active4
- 504 jobs per approval17.1
- 504 jobs per million dollars approved22.1
- Most active CDCBusiness Finance Group, Inc. (53)
- 7(a) share of SBA approvals80.4 percent
- Combined SBA approval dollars$235.4 m
The average approval of $586,486 sits well above the median of $200,000, 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. 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
- Places in the county with recorded lending8
- Henrico, approvals112
- Richmond, approvals107
- GLEN ALLEN, approvals70
- SANDSTON, approvals9
- Midlothian, approvals2
- Highland Springs, approvals2
| Place | 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 |
| Midlothian | 2 | $125,000 |
| Highland Springs | 2 | $328,800 |
| FREDERICKSBURG | 1 | $1,150,000 |
| Quinton | 1 | $5,000,000 |
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.
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 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 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.
- Population335,744
- 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?
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. 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 the average wage in Henrico County?
Average annual pay is $70,541, or $1,357 a week, across 187,647 covered jobs. 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 totalling $178.3 m since FY2020, across 61 lenders, with a median approval of $200,000, plus 74 504 approvals worth $57.1 m. 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 authorised 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 Henrico County Non-migrants, with 128,873 households. Arriving households report an average income of $75,071 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 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?
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.
Henrico County
Cities and places in Henrico.
13 Census places lie wholly or partly in Henrico County. 13 carry enough published place level data for a page of their own and are linked. The rest are named here and not linked, because the American Community Survey and the SBA record between them do not carry enough about them to write an honest page. A place existing is itself worth knowing, so nothing in the county is left out.
| Place | Type | Population | SBA approvals | 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 | 74 | 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 876 SBA approvals in Henrico County are recorded against borrower cities that match no Census place, the largest being Richmond, Fredericksburg, Henrico. Those are postal cities and unincorporated areas rather than incorporated places, so no page claims them, and their lending is counted in this county's totals above rather than under any city.