HomeWashingtonThurston County
Thurston County, Washington: commercial real estate data.
Thurston County, Washington has a population of 299,067 across 722 square miles, up 2.8 percent since the 2020 census base. 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.
123 sourced county values · tier FULL · 11 sections
Thurston County
How many people live in Thurston County
- Population299,067
- 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-equivalents243rd
Thurston County is the 6th largest of 39 Washington counties by population. A median home costs 5.0 times median household income, which is a stretched ownership market and usually shows up as rental demand. 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 growing
- Population change since the 2020 census base2.75 percent
- Census 2020 base population294,802
- 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
The county has grown 2.75 percent since the 2020 census base. Migration contributed more to 2024 change than births over deaths, so demand here follows people arriving rather than families forming.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Thurston County
Where people moving to Thurston County come from
- Tax returns filed by households arriving11,410
- People arriving, from those returns20,650
- Adjusted gross income arriving$802.1 m
- Net adjusted gross income movement$0
- Average income of an arriving household$70,294
- Largest single originThurston County Non-migrants (115,077 households)
- Largest single destination (115,077 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Thurston County Non-migrants | 115,077 | 225,189 | $10.51 bn |
| Other flows - Different State | 2,914 | 5,347 | $194.3 m |
| Pierce County | 2,308 | 4,243 | $149.2 m |
| Other flows - South | 1,182 | 2,361 | $76.4 m |
| King County | 1,167 | 1,872 | $115.6 m |
| Other flows - West | 905 | 1,562 | $62.6 m |
| Other flows - Midwest | 548 | 941 | $33.5 m |
| Lewis County | 538 | 954 | $27.5 m |
The largest single source of arrivals is Thurston 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.
Thurston County
What the Thurston County economy runs on
- 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 Washington counties6th
- Rank by GDP among US county-equivalents243rd
- 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
Who employs people in Thurston County
- Covered employment, annual average128,824
- Establishments reporting8,476
- Average annual pay$72,043
- Average weekly wage$1,385
- Sector 62, employment16,427
- Sector 62, average annual pay$68,006
- Sector 44-45, employment12,101
- Sector 44-45, average annual pay$44,389
- Sector 72, employment9,606
- Sector 72, average annual pay$29,776
- Sector 54, employment6,878
- Sector 54, average annual pay$106,177
- Sector 56, employment6,516
- Sector 23, employment6,184
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 16,427 | 925 | $68,006 |
| Sector 44-45 | 12,101 | 724 | $44,389 |
| Sector 72 | 9,606 | 614 | $29,776 |
| Sector 54 | 6,878 | 1,441 | $106,177 |
| Sector 56 | 6,516 | 640 | $56,057 |
| Sector 23 | 6,184 | 1,044 | $82,706 |
| Sector 81 | 4,158 | 732 | $64,706 |
| Sector 42 | 4,098 | 428 | $97,864 |
The largest sector is the biggest private employer group at 16,427 jobs, 12.8 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.
Thurston County
What businesses operate 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.
US Census Bureau, County Business Patterns, 2023.
Thurston County
What is being built in Thurston County
- Housing units authorised by permit, 20241,222
- Declared construction value permitted$263.5 m
- Single family units authorised672
- Multifamily units authorised550
- Multifamily share of units45.0 percent
- Average declared value per unit$215,650
- Units authorised per 1,000 households10.3
Multifamily is 45.0 percent of units authorised, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Thurston County
How much SBA lending happens in Thurston County
- 7(a) approvals recorded358
- 7(a) gross approval dollars$245.7 m
- Average 7(a) approval$686,227
- Median 7(a) approval$260,000
- 10th percentile approval$25,000
- 90th percentile approval$2,184,000
- 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)
- 7(a) share of SBA approvals72.0 percent
- Combined SBA approval dollars$352.1 m
The average approval of $686,227 sits well above the median of $260,000, 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 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
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.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Thurston County
Which parts of Thurston County get the lending
- Places in the county with recorded lending12
- OLYMPIA, approvals186
- Lacey, approvals63
- TUMWATER, approvals53
- YELM, approvals25
- ROCHESTER, approvals10
- TENINO, approvals9
| Place | 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 |
| Rainer | 1 | $125,000 |
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 big 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.
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 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 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.
- Population299,067
- 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?
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 growing?
The population has grown 2.75 percent since the 2020 census base. 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 there 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 the average wage in Thurston County?
Average annual pay is $72,043, or $1,385 a week, across 128,824 covered jobs. 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 totalling $245.7 m since FY2020, across 66 lenders, with a median approval of $260,000, plus 139 504 approvals worth $106.5 m. 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.
What is being built in Thurston County?
1,222 housing units were authorised 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 Thurston County Non-migrants, with 115,077 households. Arriving households report an average income of $70,294 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 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?
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.