HomeWashingtonThurston County
Thurston County, Washington: commercial real estate data.
Thurston County, Washington had an estimated 302,912 residents on July 1, 2024, up 2.8 percent since the 2020 census base of 294,802, across 722 square miles. County output reached $21.56 bn in 2024, 6,656 establishments operate here, and the SBA record carries 358 7(a) approvals worth $245.7 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Thurston County
How many people live in Thurston County
- Population, American Community Survey 2020-2024299,067
- Households118,899
- Average household size2.52
- Median household income$96,563
- Median age40.0
- Median gross rent$1,736 per month
- Median owner-occupied home value$480,300
- Home value to household income5.0 times
- Annual rent as a share of median income21.6 percent
- Adults 25 and over with a bachelor degree or higher38.5 percent
- Adults 25 and over with a graduate degree14.9 percent
- Adults 25 and over214,184
- Population under 1862,380
- Share under 1820.9 percent
- Population 65 and over56,072
- Share 65 and over18.7 percent
- Working age population, 18 to 64180,615
- Civilian labor force143,170
- Unemployment rate5.2 percent
- Labor force participation, adults 18 and over60.5 percent
- Rank by population among Washington counties6th of 39
- Rank by population among US county-equivalents, Puerto Rico included243rd of 3,222
Thurston County is the 6th largest of 39 Washington counties by population. A median home costs 5.0 times median household income, which is seriously unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 20.9 percent against 18.7 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Thurston County
Is Thurston County's population growing?
- Population, July 1, 2024302,912
- Census 2020 base population294,802
- Population change since the 2020 census base2.75 percent
- Population change, 2023 to 20243,393
- Births, 20242,990
- Deaths, 20242,840
- Natural change, 2024150
- Net domestic migration, 20242,134
- Net international migration, 20241,102
- Total net migration, 20243,236
- Cumulative net domestic migration, 2021 to 20243,769
- Rank by growth among US county-equivalents940th of 3,144
The county has grown 2.75 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.
Thurston County
Where are people moving to Thurston County from?
- Tax returns filed by households arriving11,410
- People arriving, from those returns20,650
- Tax returns filed by households leaving10,846
- Net household movement564
- Adjusted gross income arriving$802.1 m
- Net adjusted gross income movement$43.9 m
- Average income of an arriving household$70,294
- Average income of a leaving household$69,900
- Largest single originPierce County (2,308 households)
- Largest single destinationPierce County (1,707 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Pierce County | 2,308 | 4,243 | $149.2 m |
| King County | 1,167 | 1,872 | $115.6 m |
| Lewis County | 538 | 954 | $27.5 m |
| Mason County | 324 | 516 | $17.6 m |
| Grays Harbor County | 303 | 509 | $16.7 m |
| Snohomish County | 278 | 489 | $23.8 m |
| Foreign - APO/FPO ZIPs | 181 | 509 | $13.9 m |
| Los Angeles County | 159 | 277 | $11.9 m |
Households arriving report $394 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 Pierce 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.
Thurston County
What is the Thurston County economy?
- County GDP, 2024$21.56 bn
- County GDP, 2023$19.91 bn
- GDP change, 2023 to 20248.3 percent
- GDP change over five years44.9 percent
- Rank by GDP among the Washington areas BEA publishes6th of 39
- Rank by GDP among the US county areas BEA publishes243rd of 3,127
- GDP per resident$72,102
Output grew 8.3 percent in the latest year and 44.9 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.
Thurston County
Employment by industry in Thurston County
- Covered employment, annual average128,824
- Establishments reporting8,476
- Average annual pay$72,043
- Average weekly wage$1,385
- Health care and social assistance, employment16,427
- Health care and social assistance, average annual pay$68,006
- Retail trade, employment12,101
- Retail trade, average annual pay$44,389
- Accommodation and food services, employment9,606
- Accommodation and food services, average annual pay$29,776
- Professional, scientific and technical services, employment6,878
- Professional, scientific and technical services, average annual pay$106,177
- Administrative and support and waste management services, employment6,516
- Construction, employment6,184
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 16,427 | 925 | $68,006 |
| Retail trade | 12,101 | 724 | $44,389 |
| Accommodation and food services | 9,606 | 614 | $29,776 |
| Professional, scientific and technical services | 6,878 | 1,441 | $106,177 |
| Administrative and support and waste management services | 6,516 | 640 | $56,057 |
| Construction | 6,184 | 1,044 | $82,706 |
| Other services, except public administration | 4,158 | 732 | $64,706 |
| Wholesale trade | 4,098 | 428 | $97,864 |
Health care and social assistance is the largest private sector at 16,427 jobs, 12.8 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Thurston County
How many businesses are in Thurston County?
- Establishments, all industries6,656
- Employment at those establishments86,664
- Annual payroll$4.63 bn
- Establishments per 1,000 residents22.3
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.
Thurston County
Building permits in Thurston County
- Housing units authorized by permit, 20241,222
- Declared construction value permitted$263.5 m
- Single family units authorized672
- Multifamily units authorized550
- Multifamily share of units45.0 percent
- Average declared value per unit$215,650
- Units authorized per 1,000 households10.3
Multifamily is 45.0 percent of units authorized, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Thurston County
SBA loans in Thurston County (7(a) and 504)
- 7(a) approvals recorded358
- 7(a) gross approval dollars$245.7 m
- Average 7(a) approval$686,227
- Median 7(a) approval$256,000
- 10th percentile approval$25,000
- 90th percentile approval$2,165,940
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)3,614
- Jobs per approval10.1
- Distinct 7(a) lenders active66
- Distinct industries receiving approvals131
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer22.3 percent
- Loans on real estate terms80
- Loans on working capital terms, 120 months or shorter256
- Franchise loans50
- Franchise share of approvals14.0 percent
- Leading industry by approval countFull-Service Restaurants (28)
- Most active lenderColumbia Bank (56)
- 504 approvals recorded139
- 504 gross approval dollars$106.5 m
- Average 504 approval$765,899
- Median 504 approval$422,000
- Distinct CDCs active3
- 504 jobs per approval6.5
- 504 jobs per million dollars approved8.4
- Most active CDCAmeritrust CDC (57)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$352.1 m
The average approval of $686,227 sits well above the median of $256,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 22.3 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.
Thurston County
SBA loan default and charge-off rates in Thurston County
Do SBA loans in Thurston County get paid back?
- Loans with a final outcome recorded75
- Paid in full74
- Charged off1
- Charge-off rate on resolved loans1.3 percent
- Status: Exempt from disclosure233
- Status: Cancelled29
- Status: Paid in full74
- Status: Charged off1
- Status: Committed, not yet disbursed21
Of the 75 loans that have reached a final outcome, 1.3 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.
Thurston County
SBA lending by place in Thurston County
- Borrower cities with recorded lending12
- Olympia, approvals186
- Lacey, approvals63
- Tumwater, approvals53
- Yelm, approvals25
- Rochester, approvals10
- Tenino, approvals9
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Olympia | 186 | $140,096,200 |
| Lacey | 63 | $32,626,900 |
| Tumwater | 53 | $32,629,500 |
| Yelm | 25 | $24,903,400 |
| Rochester | 10 | $5,187,700 |
| Tenino | 9 | $3,867,900 |
| Rainier | 7 | $5,250,500 |
| Federal Way | 1 | $323,000 |
| 4 other borrower cities | 4 | $784,200 |
Olympia accounts for 186 approvals against 63 in Lacey. 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.
Thurston County
How large is Thurston County?
- Land area722 sq mi
- Rank by land area among Washington counties32nd of 39
- Width, east to west47.1 mi
- Height, north to south29.8 mi
- Geographies sharing a boundary4
- Residents per square mile of land414
- Establishments per square mile9.22
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.
Thurston County
Flood risk in Thurston County
- Participation of the county's own NFIP community Thurston County, unincorporated areasParticipating, community 530188
- Community Rating System class of the county's own communityClass 2
- Communities in the county in the NFIP Community Status Book8
- Of those, participating in the NFIP7
- NFIP participation rate87.5 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 2
- Communities carrying a CRS class1
- Radon levels in Thurston 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 Thurston County (community 530188), participates in the National Flood Insurance Program and carries Community Rating System class 2, a flood insurance premium discount for policies written there. The EPA places Thurston 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 2, which carries a flood insurance premium discount for policies written in that community. 87.5 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 Thurston 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 Thurston County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-2024299,067
- Households118,899
- Average household size2.52
- Median household income$96,563
- Median age40.0
Common questions
Thurston County questions, answered from the record.
How many people live in Thurston County, Washington?
The Census Bureau estimates 302,912 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 299,067, in 118,899 households, ranking 6th of 39 Washington counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Thurston County's population growing?
The population has grown 2.75 percent since the 2020 census base of 294,802, to 302,912 on July 1, 2024. In 2024 there were 2,990 births against 2,840 deaths, with net migration of 3,236. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Thurston County?
$96,563. The median owner-occupied home is valued at $480,300, which is 5.0 times income, and median gross rent is $1,736 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Thurston County?
6,656 establishments, employing 86,664 people with an annual payroll of $4.63 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 Thurston County?
Health care and social assistance is the largest private sector at 16,427 jobs, 12.8 percent of covered employment. Covered employment averages 128,824 jobs at an average annual pay of $72,043, or $1,385 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Thurston County?
358 7(a) approvals totaling $245.7 m since FY2020, across 66 lenders, with a median approval of $256,000, plus 139 504 approvals worth $106.5 m since FY2010. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Thurston County get paid back?
Of the 75 loans that have reached a final outcome, 74 were paid in full and 1 charged off, a charge-off rate of 1.3 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Thurston County?
1,222 housing units were authorized by permit in 2024, with a declared construction value of $263.5 m. Multifamily was 45.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Thurston 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 Thurston County come from?
The largest single origin is Pierce County, with 2,308 households. Arriving households report an average income of $70,294 against $69,900 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Thurston 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 Thurston 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.
Thurston County
Cities and places in Thurston.
12 Census places lie wholly or partly in Thurston County. All 12 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 |
|---|---|---|---|---|
| Lacey | city | 57,737 | 63 | Wholly in this county |
| Olympia | city | 55,951 | 186 | Wholly in this county |
| Tumwater | city | 26,956 | 53 | Wholly in this county |
| Yelm | city | 11,102 | 25 | Wholly in this county |
| Tanglewilde | CDP | 6,314 | None recorded | Wholly in this county |
| Rochester | CDP | 5,834 | 10 | Wholly in this county |
| Grand Mound | CDP | 3,287 | None recorded | Wholly in this county |
| North Yelm | CDP | 2,522 | None recorded | Wholly in this county |
| Rainier | city | 2,455 | 7 | Wholly in this county |
| Tenino | city | 2,025 | 9 | Wholly in this county |
| Nisqually Indian Community | CDP | 628 | None recorded | Wholly in this county |
| Bucoda | town | 494 | None recorded | Wholly in this county |
A further 5 of the county's 358 SBA 7(a) approvals are to borrowers in cities that match no Census place in Thurston County, the largest being Federal Way (1), Covington (1), Yelma (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.
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