Clay County, Indiana: commercial real estate data.
Clay County, Indiana has a population of 26,409 across 358 square miles, down 0.1 percent since the 2020 census base. County output reached $1.04 bn in 2024, 492 establishments operate here, and the SBA record carries 16 7(a) approvals worth $10.5 m.
107 sourced county values · tier FULL · 11 sections
Clay County
How many people live in Clay County
- Population26,409
- Households10,549
- Average household size2.50
- Median household income$70,010
- Median age41.4
- Median gross rent$873 per month
- Median owner-occupied home value$153,000
- Home value to household income2.2 times
- Annual rent as a share of median income15.0 percent
- Adults 25 and over with a bachelor degree or higher20.3 percent
- Adults 25 and over with a graduate degree6.3 percent
- Adults 25 and over18,501
- Population under 186,053
- Share under 1822.9 percent
- Population 65 and over4,986
- Share 65 and over18.9 percent
- Working age population, 18 to 6415,370
- Civilian labor force12,718
- Unemployment rate3.2 percent
- Labor force participation, adults 18 and over62.5 percent
- Rank by population among Indiana counties60th of 92
- Rank by population among US county-equivalents1601st
Clay County is the 60th largest of 92 Indiana counties by population. A median home costs 2.2 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 22.9 percent against 18.9 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Clay County
Is Clay County growing
- Population change since the 2020 census base-0.14 percent
- Census 2020 base population26,461
- Births, 2024283
- Deaths, 2024323
- Natural change, 2024-40
- Net domestic migration, 202437
- Net international migration, 20245
- Total net migration, 202442
- Cumulative net domestic migration, 2021 to 2024218
- Rank by growth among US county-equivalents1889th
The county has lost 0.14 percent of its population since the 2020 census base. Deaths exceeded births in 2024, so all of the growth came from people moving in. A market held up by migration alone 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.
Clay County
Where people moving to Clay County come from
- Tax returns filed by households arriving653
- People arriving, from those returns1,200
- Adjusted gross income arriving$30.2 m
- Net adjusted gross income movement$0
- Average income of an arriving household$46,230
- Largest single originClay County Non-migrants (9,830 households)
- Largest single destination (9,830 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Clay County Non-migrants | 9,830 | 20,466 | $619.6 m |
| Vigo County | 201 | 367 | $9.9 m |
| Other flows - Same State | 130 | 231 | $5.9 m |
| Other flows - Different State | 107 | 195 | $4.5 m |
| Putnam County | 74 | 123 | $3.2 m |
| Other flows - South | 66 | 122 | $2.4 m |
| Other flows - Midwest | 41 | 73 | $2.0 m |
| Marion County | 39 | 84 | $2.1 m |
The largest single source of arrivals is Clay 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.
Clay County
What the Clay County economy runs on
- County GDP, 2024$1.04 bn
- County GDP, 2023$1.02 bn
- GDP change, 2023 to 20242.1 percent
- GDP change over five years30.5 percent
- Rank by GDP among Indiana counties65th
- Rank by GDP among US county-equivalents1814th
- GDP per resident$39,442
Output grew 2.1 percent in the latest year and 30.5 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.
Clay County
Who employs people in Clay County
- Covered employment, annual average8,172
- Establishments reporting529
- Average annual pay$45,786
- Average weekly wage$881
- Sector 31-33, employment3,179
- Sector 31-33, average annual pay$61,213
- Sector 44-45, employment865
- Sector 44-45, average annual pay$32,058
- Sector 72, employment743
- Sector 72, average annual pay$15,950
- Sector 81, employment301
- Sector 81, average annual pay$17,679
- Sector 23, employment270
- Sector 48-49, employment210
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 31-33 | 3,179 | 33 | $61,213 |
| Sector 44-45 | 865 | 72 | $32,058 |
| Sector 72 | 743 | 54 | $15,950 |
| Sector 81 | 301 | 44 | $17,679 |
| Sector 23 | 270 | 59 | $47,840 |
| Sector 48-49 | 210 | 37 | $48,720 |
| Sector 56 | 136 | 26 | $52,078 |
| Sector 52 | 125 | 29 | $66,317 |
The largest sector is the biggest private employer group at 3,179 jobs, 38.9 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.
Clay County
What businesses operate in Clay County
- Establishments, all industries492
- Employment at those establishments6,428
- Annual payroll$278.7 m
- Establishments per 1,000 residents18.6
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.
Clay County
What is being built in Clay County
- Housing units authorised by permit, 202468
- Declared construction value permitted$5.9 m
- Single family units authorised68
- Multifamily units authorised0
- Multifamily share of units0.0 percent
- Average declared value per unit$86,771
- Units authorised per 1,000 households6.4
Multifamily is 0.0 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Clay County
How much SBA lending happens in Clay County
- 7(a) approvals recorded16
- 7(a) gross approval dollars$10.5 m
- Average 7(a) approval$654,856
- Median 7(a) approval$400,000
- 10th percentile approval$100,000
- 90th percentile approval$1,765,500
- Largest single approval$1,993,000
- Jobs reported supported, 7(a)154
- Jobs per approval9.6
- Distinct 7(a) lenders active11
- Distinct industries receiving approvals13
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer37.5 percent
- Loans on real estate terms6
- Loans on working capital terms, 120 months or shorter10
- Franchise loans1
- Franchise share of approvals6.3 percent
- Leading industry by approval countSite Preparation Contractors (3)
- Most active lenderThe Riddell National Bank (6)
The average approval of $654,856 sits well above the median of $400,000, 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. 37.5 percent of approvals run on real estate terms of 240 months or more, so this is a market where SBA credit is buying buildings, not just funding operations.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Clay County
Do SBA loans in Clay County get paid back
- Loans with a final outcome recorded4
- Paid in full4
- Charged off0
- Status: Paid in full4
- Status: Exempt from disclosure11
- Status: Committed, not yet disbursed1
Too few loans have reached a final outcome to publish a charge off rate. only 4 resolved loans, too few to publish a rate. A rate computed on a handful of loans is noise, so none is shown.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Clay County
Which parts of Clay County get the lending
- Places in the county with recorded lending3
- BRAZIL, approvals14
- Harmony, approvals1
- INDIANAPOLIS, approvals1
| Place | Approvals | Gross approval dollars |
|---|---|---|
| BRAZIL | 14 | $9,684,600 |
| Harmony | 1 | $200,000 |
| INDIANAPOLIS | 1 | $593,100 |
BRAZIL accounts for 14 approvals against 1 in Harmony. 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.
Clay County
How big is Clay County
- Land area358 sq mi
- Rank by land area among Indiana counties70th of 92
- Width, east to west16.1 mi
- Height, north to south30.3 mi
- Geographies sharing a boundary6
- Residents per square mile of land74
- Establishments per square mile1.37
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 504 approvals recorded in this county in the FOIA release covering FY2010 onward.
- 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 Clay 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 Clay County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population26,409
- Households10,549
- Average household size2.50
- Median household income$70,010
- Median age41.4
Common questions
Clay County questions, answered from the record.
How many people live in Clay County, Indiana?
26,409, in 10,549 households, ranking 60th of 92 Indiana counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Clay County growing?
The population has fallen 0.14 percent since the 2020 census base. In 2024 there were 283 births against 323 deaths, with net migration of 42. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Clay County?
$70,010. The median owner-occupied home is valued at $153,000, which is 2.2 times income, and median gross rent is $873 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Clay County?
492 establishments, employing 6,428 people with an annual payroll of $278.7 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Clay County?
Average annual pay is $45,786, or $881 a week, across 8,172 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Clay County?
16 7(a) approvals totalling $10.5 m since FY2020, across 11 lenders, with a median approval of $400,000. These are approvals recorded in the release, not loans disbursed.
What is being built in Clay County?
68 housing units were authorised by permit in 2024, with a declared construction value of $5.9 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Clay County?
Zone 2, a predicted average indoor radon screening level from 2 to 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 Clay County come from?
The largest single origin is Clay County Non-migrants, with 9,830 households. Arriving households report an average income of $46,230 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 Clay 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 Clay 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.