HomeVirginiaIsle of Wight County
Isle of Wight County, Virginia: commercial real estate data.
Isle of Wight County, Virginia had an estimated 40,942 residents on July 1, 2024, up 6.0 percent since the 2020 census base of 38,611, across 316 square miles. County output reached $1.65 bn in 2024, 766 establishments operate here, and the SBA record carries 25 7(a) approvals worth $7.1 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Isle of Wight County
How many people live in Isle of Wight County
- Population, American Community Survey 2020-202439,974
- Households15,756
- Average household size2.54
- Median household income$95,241
- Median age43.8
- Median gross rent$1,359 per month
- Median owner-occupied home value$356,500
- Home value to household income3.7 times
- Annual rent as a share of median income17.1 percent
- Adults 25 and over with a bachelor degree or higher30.8 percent
- Adults 25 and over with a graduate degree11.4 percent
- Adults 25 and over28,726
- Population under 188,502
- Share under 1821.3 percent
- Population 65 and over8,027
- Share 65 and over20.1 percent
- Working age population, 18 to 6423,445
- Civilian labor force19,743
- Unemployment rate3.9 percent
- Labor force participation, adults 18 and over62.7 percent
- Rank by population among Virginia counties45th of 133
- Rank by population among US county-equivalents, Puerto Rico included1206th of 3,222
Isle of Wight County is the 45th largest of 133 Virginia counties 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 21.3 percent against 20.1 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Isle of Wight County
Is Isle of Wight County's population growing?
- Population, July 1, 202440,942
- Census 2020 base population38,611
- Population change since the 2020 census base6.04 percent
- Population change, 2023 to 2024275
- Births, 2024391
- Deaths, 2024472
- Natural change, 2024-81
- Net domestic migration, 2024318
- Net international migration, 202437
- Total net migration, 2024355
- Cumulative net domestic migration, 2021 to 20242,346
- Rank by growth among US county-equivalents403rd of 3,144
The county has grown 6.04 percent since the 2020 census base. Deaths exceeded births in 2024 and the population still grew, so all of the growth came from people moving in. A market held up by migration is more sensitive to a change in relative cost than one growing from household formation.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Isle of Wight County
Where are people moving to Isle of Wight County from?
- Tax returns filed by households arriving1,537
- People arriving, from those returns3,095
- Tax returns filed by households leaving1,158
- Net household movement379
- Adjusted gross income arriving$119.6 m
- Net adjusted gross income movement$29.9 m
- Average income of an arriving household$77,817
- Average income of a leaving household$77,499
- Largest single originSuffolk city (204 households)
- Largest single destinationSuffolk city (151 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Suffolk city | 204 | 441 | $20.9 m |
| Newport News city | 148 | 283 | $9.6 m |
| Hampton city | 126 | 253 | $9.0 m |
| Chesapeake city | 102 | 205 | $12.0 m |
| Portsmouth city | 78 | 181 | $6.2 m |
| Virginia Beach city | 75 | 139 | $5.4 m |
| Norfolk city | 60 | 102 | $4.0 m |
| Southampton County | 43 | 81 | $2.5 m |
Households arriving report $318 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 Suffolk 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.
Isle of Wight County
What is the Isle of Wight County economy?
- County GDP, 2024$1.65 bn
- County GDP, 2023$1.96 bn
- GDP change, 2023 to 2024-15.8 percent
- GDP change over five years18.0 percent
- Rank by GDP among the Virginia areas BEA publishes51st of 105
- Rank by GDP among the US county areas BEA publishes1437th of 3,127
- GDP per resident$41,364
Output grew -15.8 percent in the latest year and 18.0 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.
Isle of Wight County
Employment by industry in Isle of Wight County
- Covered employment, annual average10,060
- Establishments reporting926
- Average annual pay$58,356
- Average weekly wage$1,122
- Manufacturing, employment2,134
- Manufacturing, average annual pay$63,198
- Accommodation and food services, employment1,093
- Accommodation and food services, average annual pay$24,154
- Retail trade, employment1,036
- Retail trade, average annual pay$27,305
- Construction, employment544
- Construction, average annual pay$60,578
- Management of companies and enterprises, employment384
- Transportation and warehousing, employment360
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Manufacturing | 2,134 | 29 | $63,198 |
| Accommodation and food services | 1,093 | 60 | $24,154 |
| Retail trade | 1,036 | 107 | $27,305 |
| Construction | 544 | 94 | $60,578 |
| Management of companies and enterprises | 384 | 18 | $229,605 |
| Transportation and warehousing | 360 | 24 | $55,370 |
| Other services, except public administration | 348 | 99 | $54,510 |
| Administrative and support and waste management services | 343 | 62 | $50,459 |
Manufacturing is the largest private sector at 2,134 jobs, 21.2 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Isle of Wight County
How many businesses are in Isle of Wight County?
- Establishments, all industries766
- Employment at those establishments9,183
- Annual payroll$513.0 m
- Establishments per 1,000 residents19.2
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.
Isle of Wight County
Building permits in Isle of Wight County
- Housing units authorized by permit, 2024257
- Declared construction value permitted$49.8 m
- Single family units authorized257
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$193,758
- Units authorized per 1,000 households16.3
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.
Isle of Wight County
SBA loans in Isle of Wight County (7(a) and 504)
- 7(a) approvals recorded25
- 7(a) gross approval dollars$7.1 m
- Average 7(a) approval$285,548
- Median 7(a) approval$150,000
- 10th percentile approval$53,200
- 90th percentile approval$535,000
- Largest single approval$1,494,500
- Jobs reported supported, 7(a)217
- Jobs per approval8.7
- Distinct 7(a) lenders active14
- Distinct industries receiving approvals17
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer20.0 percent
- Loans on real estate terms5
- Loans on working capital terms, 120 months or shorter16
- Franchise loans5
- Franchise share of approvals20.0 percent
- Leading industry by approval countOffices of Physicians (except Mental Health Specialists) (4)
- Most active lenderBayFirst National Bank (5)
- 504 approvals recorded12
- 504 gross approval dollars$7.5 m
- Average 504 approval$627,417
- Median 504 approval$375,500
- Distinct CDCs active2
- 504 jobs per approval5.3
- 504 jobs per million dollars approved8.5
- Most active CDCBusiness Finance Group, Inc. (9)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$14.7 m
The average approval of $285,548 sits well above the median of $150,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 20.0 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.
Isle of Wight County
SBA loan default and charge-off rates in Isle of Wight County
Do SBA loans in Isle of Wight County get paid back?
- Loans with a final outcome recorded2
- Paid in full2
- Charged off0
- Status: Exempt from disclosure18
- Status: Paid in full2
- Status: Cancelled4
- Status: Committed, not yet disbursed1
Only 2 loans have 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.
Isle of Wight County
SBA lending by place in Isle of Wight County
- Borrower cities with recorded lending4
- Smithfield, approvals16
- Carrollton, approvals5
- Windsor, approvals3
- Rescue, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Smithfield | 16 | $5,437,900 |
| Carrollton | 5 | $758,000 |
| Windsor | 3 | $925,300 |
| Rescue | 1 | $17,500 |
Smithfield accounts for 16 approvals against 5 in Carrollton. 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.
Isle of Wight County
How large is Isle of Wight County?
- Land area316 sq mi
- Rank by land area among Virginia counties64th of 133
- Width, east to west24.4 mi
- Height, north to south34.4 mi
- Geographies sharing a boundary4
- Residents per square mile of land127
- Establishments per square mile2.42
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.
Isle of Wight County
Flood risk in Isle of Wight County
- Participation of the county's own NFIP community Isle of Wight County, unincorporated areasParticipating, community 510303
- Communities in the county in the NFIP Community Status Book3
- Of those, participating in the NFIP3
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Isle of Wight 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 Isle of Wight County (community 510303), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Isle of Wight 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. 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 Isle of Wight 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 Isle of Wight County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202439,974
- Households15,756
- Average household size2.54
- Median household income$95,241
- Median age43.8
Common questions
Isle of Wight County questions, answered from the record.
How many people live in Isle of Wight County, Virginia?
The Census Bureau estimates 40,942 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 39,974, in 15,756 households, ranking 45th of 133 Virginia counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Isle of Wight County's population growing?
The population has grown 6.04 percent since the 2020 census base of 38,611, to 40,942 on July 1, 2024. In 2024 there were 391 births against 472 deaths, with net migration of 355. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Isle of Wight County?
$95,241. The median owner-occupied home is valued at $356,500, which is 3.7 times income, and median gross rent is $1,359 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Isle of Wight County?
766 establishments, employing 9,183 people with an annual payroll of $513.0 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 Isle of Wight County?
Manufacturing is the largest private sector at 2,134 jobs, 21.2 percent of covered employment. Covered employment averages 10,060 jobs at an average annual pay of $58,356, or $1,122 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Isle of Wight County?
25 7(a) approvals totaling $7.1 m since FY2020, across 14 lenders, with a median approval of $150,000, plus 12 504 approvals worth $7.5 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Isle of Wight County?
257 housing units were authorized by permit in 2024, with a declared construction value of $49.8 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Isle of Wight 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 Isle of Wight County come from?
The largest single origin is Suffolk city, with 204 households. Arriving households report an average income of $77,817 against $77,499 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Isle of Wight 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 Isle of Wight 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.
Isle of Wight County
Cities and places in Isle of Wight.
7 Census places lie wholly or partly in Isle of Wight County. All 7 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 |
|---|---|---|---|---|
| Smithfield | town | 8,834 | 16 | Wholly in this county |
| Carrollton | CDP | 8,436 | 5 | Wholly in this county |
| Windsor | town | 2,852 | 3 | Wholly in this county |
| Benns Church | CDP | 1,813 | None recorded | Wholly in this county |
| Rushmere | CDP | 1,033 | None recorded | Wholly in this county |
| Camptown | CDP | 834 | None recorded | Wholly in this county |
| Carrsville | CDP | 363 | None recorded | Wholly in this county |
A further 1 of the county's 25 SBA 7(a) approvals are to borrowers in cities that match no Census place in Isle of Wight County, the largest being Rescue (1). 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.
Nearby