Suffolk city, Virginia: commercial real estate data.
Suffolk city, Virginia had an estimated 103,105 residents on July 1, 2024, up 9.2 percent since the 2020 census base of 94,406, across 400 square miles. County output reached $5.72 bn in 2024, 1,798 establishments operate here, and the SBA record carries 46 7(a) approvals worth $33.8 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Suffolk city
How many people live in Suffolk city
- Population, American Community Survey 2020-202498,796
- Households37,908
- Average household size2.61
- Median household income$92,666
- Median age38.7
- Median gross rent$1,563 per month
- Median owner-occupied home value$347,400
- Home value to household income3.7 times
- Annual rent as a share of median income20.2 percent
- Adults 25 and over with a bachelor degree or higher33.3 percent
- Adults 25 and over with a graduate degree13.1 percent
- Adults 25 and over67,698
- Population under 1823,310
- Share under 1823.6 percent
- Population 65 and over15,100
- Share 65 and over15.3 percent
- Working age population, 18 to 6460,386
- Civilian labor force47,902
- Unemployment rate5.0 percent
- Labor force participation, adults 18 and over63.5 percent
- Rank by population among Virginia independent cities19th of 133
- Rank by population among US county-equivalents, Puerto Rico included629th of 3,222
Suffolk city is the 19th largest of 133 Virginia independent cities 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 23.6 percent against 15.3 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Suffolk city
Is Suffolk city's population growing?
- Population, July 1, 2024103,105
- Census 2020 base population94,406
- Population change since the 2020 census base9.21 percent
- Population change, 2023 to 20242,055
- Births, 20241,251
- Deaths, 2024960
- Natural change, 2024291
- Net domestic migration, 20241,608
- Net international migration, 2024160
- Total net migration, 20241,768
- Cumulative net domestic migration, 2021 to 20246,862
- Rank by growth among US county-equivalents175th of 3,144
The county has grown 9.21 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.
Suffolk city
Where are people moving to Suffolk city from?
- Tax returns filed by households arriving4,665
- People arriving, from those returns9,149
- Tax returns filed by households leaving3,723
- Net household movement942
- Adjusted gross income arriving$316.6 m
- Net adjusted gross income movement$53.2 m
- Average income of an arriving household$67,867
- Average income of a leaving household$70,744
- Largest single originChesapeake city (698 households)
- Largest single destinationChesapeake city (450 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Chesapeake city | 698 | 1,388 | $47.8 m |
| Virginia Beach city | 559 | 1,087 | $38.0 m |
| Portsmouth city | 507 | 985 | $30.0 m |
| Norfolk city | 336 | 622 | $19.4 m |
| Hampton city | 184 | 362 | $11.0 m |
| Newport News city | 167 | 315 | $9.7 m |
| Isle of Wight County | 151 | 289 | $11.3 m |
| San Diego County | 62 | 137 | $4.0 m |
Households arriving report $2,877 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Chesapeake 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.
Suffolk city
What is the Suffolk city economy?
- County GDP, 2024$5.72 bn
- County GDP, 2023$5.34 bn
- GDP change, 2023 to 20247.1 percent
- GDP change over five years31.1 percent
- Rank by GDP among the Virginia areas BEA publishes27th of 105
- Rank by GDP among the US county areas BEA publishes664th of 3,127
- GDP per resident$57,860
Output grew 7.1 percent in the latest year and 31.1 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.
Suffolk city
Employment by industry in Suffolk city
- Covered employment, annual average36,408
- Establishments reporting2,195
- Average annual pay$64,230
- Average weekly wage$1,235
- Health care and social assistance, employment5,273
- Health care and social assistance, average annual pay$63,739
- Retail trade, employment3,960
- Retail trade, average annual pay$32,171
- Professional, scientific and technical services, employment3,644
- Professional, scientific and technical services, average annual pay$125,686
- Accommodation and food services, employment3,153
- Accommodation and food services, average annual pay$23,665
- Transportation and warehousing, employment2,868
- Manufacturing, employment2,185
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 5,273 | 457 | $63,739 |
| Retail trade | 3,960 | 226 | $32,171 |
| Professional, scientific and technical services | 3,644 | 173 | $125,686 |
| Accommodation and food services | 3,153 | 166 | $23,665 |
| Transportation and warehousing | 2,868 | 93 | $49,115 |
| Manufacturing | 2,185 | 74 | $69,518 |
| Construction | 1,813 | 159 | $76,657 |
| Administrative and support and waste management services | 1,304 | 102 | $42,241 |
Health care and social assistance is the largest private sector at 5,273 jobs, 14.5 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Suffolk city
How many businesses are in Suffolk city?
- Establishments, all industries1,798
- Employment at those establishments27,824
- Annual payroll$1.43 bn
- Establishments per 1,000 residents18.2
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.
Suffolk city
Building permits in Suffolk city
- Housing units authorized by permit, 2024680
- Declared construction value permitted$195.3 m
- Single family units authorized680
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$287,218
- Units authorized per 1,000 households17.9
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.
Suffolk city
SBA loans in Suffolk city (7(a) and 504)
- 7(a) approvals recorded46
- 7(a) gross approval dollars$33.8 m
- Average 7(a) approval$735,137
- Median 7(a) approval$332,500
- 10th percentile approval$45,000
- 90th percentile approval$2,187,500
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)347
- Jobs per approval7.5
- Distinct 7(a) lenders active26
- Distinct industries receiving approvals30
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer26.1 percent
- Loans on real estate terms12
- Loans on working capital terms, 120 months or shorter28
- Franchise loans9
- Franchise share of approvals19.6 percent
- 504 approvals recorded26
- 504 gross approval dollars$22.2 m
- Average 504 approval$855,462
- Median 504 approval$474,000
- Distinct CDCs active3
- 504 jobs per approval7.4
- 504 jobs per million dollars approved8.7
- Most active CDC504 Capital Corporation (19)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$56.1 m
The average approval of $735,137 sits well above the median of $332,500, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 26.1 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.
Suffolk city
SBA loan default and charge-off rates in Suffolk city
Do SBA loans in Suffolk city get paid back?
- Loans with a final outcome recorded4
- Paid in full4
- Charged off0
- Status: Paid in full4
- Status: Exempt from disclosure29
- Status: Cancelled10
- Status: Committed, not yet disbursed3
Only 4 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.
Suffolk city
SBA lending by place in Suffolk city
- Borrower cities with recorded lending2
- Suffolk, approvals45
- Sulfolk, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Suffolk | 45 | $33,466,300 |
| Sulfolk | 1 | $350,000 |
Suffolk accounts for 45 approvals against 1 in Sulfolk. 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.
Suffolk city
How large is Suffolk city?
- Land area400 sq mi
- Rank by land area among Virginia independent cities46th of 133
- Width, east to west28.2 mi
- Height, north to south26.6 mi
- Geographies sharing a boundary6
- Residents per square mile of land247
- Establishments per square mile4.50
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.
Suffolk city
Flood risk in Suffolk city
- Participation of the county's own NFIP community Suffolk, city ofParticipating, community 510156
- Communities in the county in the NFIP Community Status Book1
- Of those, participating in the NFIP1
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Suffolk city, EPA zone predicted average indoor radon screening level less than 2 pCi/LZone 3
The county's own community in the status book, the City of Suffolk (community 510156), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Suffolk city 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 Suffolk 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 Suffolk city site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202498,796
- Households37,908
- Average household size2.61
- Median household income$92,666
- Median age38.7
Common questions
Suffolk city questions, answered from the record.
How many people live in Suffolk city, Virginia?
The Census Bureau estimates 103,105 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 98,796, in 37,908 households, ranking 19th of 133 Virginia counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Suffolk city's population growing?
The population has grown 9.21 percent since the 2020 census base of 94,406, to 103,105 on July 1, 2024. In 2024 there were 1,251 births against 960 deaths, with net migration of 1,768. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Suffolk city?
$92,666. The median owner-occupied home is valued at $347,400, which is 3.7 times income, and median gross rent is $1,563 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Suffolk city?
1,798 establishments, employing 27,824 people with an annual payroll of $1.43 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 Suffolk city?
Health care and social assistance is the largest private sector at 5,273 jobs, 14.5 percent of covered employment. Covered employment averages 36,408 jobs at an average annual pay of $64,230, or $1,235 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Suffolk city?
46 7(a) approvals totaling $33.8 m since FY2020, across 26 lenders, with a median approval of $332,500, plus 26 504 approvals worth $22.2 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Suffolk city?
680 housing units were authorized by permit in 2024, with a declared construction value of $195.3 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Suffolk city?
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 Suffolk city come from?
The largest single origin is Chesapeake city, with 698 households. Arriving households report an average income of $67,867 against $70,744 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Suffolk 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 Suffolk city?
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.