Lee County, Virginia: commercial real estate data.
Lee County, Virginia had an estimated 21,780 residents on July 1, 2024, down 1.8 percent since the 2020 census base of 22,172, across 436 square miles. County output reached $566.6 m in 2024, 242 establishments operate here, and the SBA record carries 4 7(a) approvals worth $2.1 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Lee County
How many people live in Lee County
- Population, American Community Survey 2020-202421,900
- Households8,527
- Average household size2.57
- Median household income$41,827
- Median age45.5
- Median gross rent$738 per month
- Median owner-occupied home value$98,900
- Home value to household income2.4 times
- Annual rent as a share of median income21.2 percent
- Adults 25 and over with a bachelor degree or higher14.1 percent
- Adults 25 and over with a graduate degree4.5 percent
- Adults 25 and over16,494
- Population under 183,996
- Share under 1818.2 percent
- Population 65 and over5,064
- Share 65 and over23.1 percent
- Working age population, 18 to 6412,840
- Civilian labor force7,447
- Unemployment rate9.5 percent
- Labor force participation, adults 18 and over41.6 percent
- Rank by population among Virginia counties78th of 133
- Rank by population among US county-equivalents, Puerto Rico included1778th of 3,222
Lee County is the 78th largest of 133 Virginia counties by population. A median home costs 2.4 times median household income, which is affordable by national standards. Residents 65 and over outnumber those under 18, at 23.1 percent against 18.2 percent, which points demand at health care, services and single story product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Lee County
Is Lee County's population growing?
- Population, July 1, 202421,780
- Census 2020 base population22,172
- Population change since the 2020 census base-1.77 percent
- Population change, 2023 to 202419
- Births, 2024180
- Deaths, 2024359
- Natural change, 2024-179
- Net domestic migration, 2024183
- Net international migration, 202419
- Total net migration, 2024202
- Cumulative net domestic migration, 2021 to 2024493
- Rank by growth among US county-equivalents2441st of 3,144
The county has lost 1.77 percent of its population 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.
Lee County
Where are people moving to Lee County from?
- Tax returns filed by households arriving311
- People arriving, from those returns626
- Tax returns filed by households leaving313
- Net household movement-2
- Adjusted gross income arriving$13.0 m
- Net adjusted gross income movement$1.2 m
- Average income of an arriving household$41,904
- Average income of a leaving household$37,805
- Largest single originWise County (55 households)
- Largest single destinationWise County (58 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Wise County | 55 | 104 | $2.2 m |
Households arriving report $4,099 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 Wise 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.
Lee County
What is the Lee County economy?
- County GDP, 2024$566.6 m
- County GDP, 2023$539.2 m
- GDP change, 2023 to 20245.1 percent
- GDP change over five years32.3 percent
- Rank by GDP among the Virginia areas BEA publishes83rd of 105
- Rank by GDP among the US county areas BEA publishes2320th of 3,127
- GDP per resident$25,872
Output grew 5.1 percent in the latest year and 32.3 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.
Lee County
Employment by industry in Lee County
- Covered employment, annual average4,190
- Establishments reporting522
- Average annual pay$45,126
- Average weekly wage$868
- Retail trade, employment690
- Retail trade, average annual pay$27,965
- Construction, employment155
- Construction, average annual pay$54,882
- Manufacturing, employment154
- Manufacturing, average annual pay$47,519
- Wholesale trade, employment112
- Wholesale trade, average annual pay$56,739
- Finance and insurance, employment94
- Other services, except public administration, employment75
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Retail trade | 690 | 58 | $27,965 |
| Construction | 155 | 17 | $54,882 |
| Manufacturing | 154 | 11 | $47,519 |
| Wholesale trade | 112 | 16 | $56,739 |
| Finance and insurance | 94 | 16 | $50,626 |
| Other services, except public administration | 75 | 27 | $35,278 |
| Administrative and support and waste management services | 68 | 12 | $37,243 |
| Management of companies and enterprises | 64 | 3 | $67,993 |
Retail trade is the largest private sector at 690 jobs, 16.5 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Lee County
How many businesses are in Lee County?
- Establishments, all industries242
- Employment at those establishments2,329
- Annual payroll$88.3 m
- Establishments per 1,000 residents11.1
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.
Lee County
Building permits in Lee County
- Housing units authorized by permit, 202418
- Declared construction value permitted$4.1 m
- Single family units authorized18
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$230,212
- Units authorized per 1,000 households2.1
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.
Lee County
SBA loans in Lee County (7(a) and 504)
- 7(a) approvals recorded4
- 7(a) gross approval dollars$2.1 m
- Average 7(a) approval$531,750
- Median 7(a) approval$350,000
- Largest single approval$1,177,000
- Jobs reported supported, 7(a)82
- Jobs per approval20.5
- Distinct 7(a) lenders active2
- Distinct industries receiving approvals3
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer0.0 percent
- Loans on real estate terms0
- Loans on working capital terms, 120 months or shorter4
- Franchise loans0
- Franchise share of approvals0.0 percent
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lee County
SBA loan default and charge-off rates in Lee County
Do SBA loans in Lee County get paid back?
- Loans with a final outcome recorded0
- Paid in full0
- Charged off0
- Status: Cancelled2
- Status: Exempt from disclosure2
Only 0 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.
Lee County
SBA lending by place in Lee County
- Borrower cities with recorded lending3
- Rose Hill, approvals2
- Jonesville, approvals1
- Pennington Gap, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Rose Hill | 2 | $1,427,000 |
| Jonesville | 1 | $350,000 |
| Pennington Gap | 1 | $350,000 |
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lee County
How large is Lee County?
- Land area436 sq mi
- Rank by land area among Virginia counties39th of 133
- Width, east to west50.1 mi
- Height, north to south21.2 mi
- Geographies sharing a boundary6
- Residents per square mile of land50
- Establishments per square mile0.56
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.
Lee County
Flood risk in Lee County
- Participation of the county's own NFIP community Lee County, unincorporated areasParticipating, community 510085
- Communities in the county in the NFIP Community Status Book4
- Of those, participating in the NFIP4
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Lee County, EPA zone predicted average indoor radon screening level greater than 4 pCi/LZone 1
The county's own community in the status book, unincorporated Lee County (community 510085), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Lee County in radon zone 1, a predicted average indoor radon screening level greater than 4 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 Lee 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 Lee County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202421,900
- Households8,527
- Average household size2.57
- Median household income$41,827
- Median age45.5
Common questions
Lee County questions, answered from the record.
How many people live in Lee County, Virginia?
The Census Bureau estimates 21,780 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 21,900, in 8,527 households, ranking 78th of 133 Virginia counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Lee County's population growing?
The population has fallen 1.77 percent since the 2020 census base of 22,172, to 21,780 on July 1, 2024. In 2024 there were 180 births against 359 deaths, with net migration of 202. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Lee County?
$41,827. The median owner-occupied home is valued at $98,900, which is 2.4 times income, and median gross rent is $738 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Lee County?
242 establishments, employing 2,329 people with an annual payroll of $88.3 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 Lee County?
Retail trade is the largest private sector at 690 jobs, 16.5 percent of covered employment. Covered employment averages 4,190 jobs at an average annual pay of $45,126, or $868 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Lee County?
4 7(a) approvals totaling $2.1 m since FY2020, across 2 lenders, with a median approval of $350,000. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Lee County?
18 housing units were authorized by permit in 2024, with a declared construction value of $4.1 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Lee County?
Zone 1, a predicted average indoor radon screening level greater than 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 Lee County come from?
The largest single origin is Wise County, with 55 households. Arriving households report an average income of $41,904 against $37,805 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Lee 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 Lee 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.
Lee County
Cities and places in Lee.
8 Census places lie wholly or partly in Lee County. All 8 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 |
|---|---|---|---|---|
| Pennington Gap | town | 1,798 | 1 | Wholly in this county |
| Jonesville | town | 1,308 | 1 | Wholly in this county |
| Dryden | CDP | 823 | None recorded | Wholly in this county |
| Rose Hill | CDP | 447 | 2 | Wholly in this county |
| Ewing | CDP | 365 | None recorded | Wholly in this county |
| Keokee | CDP | 174 | None recorded | Wholly in this county |
| Stickleyville | CDP | 143 | None recorded | Wholly in this county |
| St. Charles | CDP | 83 | None recorded | Wholly in this county |