Lee County, Virginia: commercial real estate data.
Lee County, Virginia has a population of 21,900 across 436 square miles, down 1.8 percent since the 2020 census base. 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.
106 sourced county values · tier FULL · 11 sections
Lee County
How many people live in Lee County
- Population21,900
- 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-equivalents1778th
Lee County is the 78th largest of 133 Virginia counties by population. A median home costs 2.4 times median household income, which is an affordable ownership market 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 storey product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Lee County
Is Lee County growing
- Population change since the 2020 census base-1.77 percent
- Census 2020 base population22,172
- 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
The county has lost 1.77 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.
Lee County
Where people moving to Lee County come from
- Tax returns filed by households arriving311
- People arriving, from those returns626
- Adjusted gross income arriving$13.0 m
- Net adjusted gross income movement$0
- Average income of an arriving household$41,904
- Largest single originLee County Non-migrants (6,364 households)
- Largest single destination (6,364 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Lee County Non-migrants | 6,364 | 13,665 | $305.1 m |
| Other flows - Different State | 201 | 418 | $8.8 m |
| Other flows - South | 160 | 330 | $6.6 m |
| Wise County | 55 | 104 | $2.2 m |
| Other flows - Same State | 55 | 104 | $2.0 m |
| Other flows - Midwest | 41 | 88 | $2.2 m |
The largest single source of arrivals is Lee 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.
Lee County
What the Lee County economy runs on
- 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 Virginia counties83rd
- Rank by GDP among US county-equivalents2320th
- 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
Who employs people in Lee County
- Covered employment, annual average4,190
- Establishments reporting522
- Average annual pay$45,126
- Average weekly wage$868
- Sector 44-45, employment690
- Sector 44-45, average annual pay$27,965
- Sector 23, employment155
- Sector 23, average annual pay$54,882
- Sector 31-33, employment154
- Sector 31-33, average annual pay$47,519
- Sector 42, employment112
- Sector 42, average annual pay$56,739
- Sector 52, employment94
- Sector 81, employment75
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 44-45 | 690 | 58 | $27,965 |
| Sector 23 | 155 | 17 | $54,882 |
| Sector 31-33 | 154 | 11 | $47,519 |
| Sector 42 | 112 | 16 | $56,739 |
| Sector 52 | 94 | 16 | $50,626 |
| Sector 81 | 75 | 27 | $35,278 |
| Sector 56 | 68 | 12 | $37,243 |
| Sector 55 | 64 | 3 | $67,993 |
The largest sector is the biggest private employer group at 690 jobs, 16.5 percent of covered employment. Average pay per job exceeds median household income, which usually means single earner households and a wage base that can carry rent.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Lee County
What businesses operate 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.
US Census Bureau, County Business Patterns, 2023.
Lee County
What is being built in Lee County
- Housing units authorised by permit, 202418
- Declared construction value permitted$4.1 m
- Single family units authorised18
- Multifamily units authorised0
- Multifamily share of units0.0 percent
- Average declared value per unit$230,212
- Units authorised per 1,000 households2.1
Multifamily is 0.0 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Lee County
How much SBA lending happens in Lee County
- 7(a) approvals recorded4
- 7(a) gross approval dollars$2.1 m
- Average 7(a) approval$531,750
- Median 7(a) approval$350,000
- 10th percentile approval$250,000
- 90th percentile approval$1,177,000
- 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
- Leading industry by approval countAll Other Miscellaneous Wood Product Manufacturing (2)
- Most active lenderLive Oak Banking Company (2)
The average approval of $531,750 sits well above the median of $350,000, 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. Only 0.0 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.
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
Too few loans have reached a final outcome to publish a charge off rate. only 0 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.
Lee County
Which parts of Lee County get the lending
- Places in the county with recorded lending3
- ROSE HILL, approvals2
- JONESVILLE, approvals1
- PENNINGTON GAP, approvals1
| Place | Approvals | Gross approval dollars |
|---|---|---|
| ROSE HILL | 2 | $1,427,000 |
| JONESVILLE | 1 | $350,000 |
| PENNINGTON GAP | 1 | $350,000 |
ROSE HILL accounts for 2 approvals against 1 in JONESVILLE. 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.
Lee County
How big 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 boundary2
- 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.
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 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.
- Population21,900
- 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?
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 growing?
The population has fallen 1.77 percent since the 2020 census base. 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 there 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 the average wage in Lee County?
Average annual pay is $45,126, or $868 a week, across 4,190 covered jobs. 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 totalling $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.
What is being built in Lee County?
18 housing units were authorised 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 Lee County Non-migrants, with 6,364 households. Arriving households report an average income of $41,904 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 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?
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.