Official Federal Data
Hanover County, Virginia
Richmond, VA · Population 112,879
10 Sources
Updated August 12, 2026
$112,805 up from the baseline named below
Median Income (nominal) vs 2019
$80,734 national
3% up from the baseline named below
Unemployment vs 2024
4.3% national
$9.2B up from the baseline named below
GDP (nominal) real change vs 2023
42.7% up from the baseline named below
Bachelor's+ vs 2019
35.7% national
Demographics & Population
Census Bureau American Community Survey 2020-2024 · 5-Year Estimates
Household Income
Source: U.S. Census Bureau · American Community Survey 2020-2024 5-Year Estimates
Median Household (nominal)
$112,805 up from 2019 vs 2019
Per Capita
$53,490 up from 2019 vs 2019
Mean Household
$139,805 up from 2019 vs 2019
Median Household (cost-of-living adjusted)
$115,225 metro RPP 97.9
Poverty Rate
5.7% up from 2019 vs 2019
Median Income Comparison
Hanover County$112,805
Virginia$93,170
National$80,734
Cost-of-living adjustment uses the BEA all-items regional price parity for Richmond, VA, 97.9 against a national average of 100 (2024). BEA publishes regional price parity at state and metropolitan level only; there is no county figure, so the metro index stands in for Hanover County and the adjusted median is an approximation. Per capita and mean household income above are nominal and carry no adjustment.
Population Profile
Source: Census Bureau ACS 2020-2024 · Table B01001, B02001, B03003
CohortsShare of total population
Under 18 · 21.6%
18-34 · 18.6%
35-54 · 26%
55-64 · 14.6%
65+ · 19.2%
Race & Ethnicity
Hispanic or Latino is an ethnic category and overlaps with the race categories above.
Educational Attainment
Source: Census Bureau ACS 2020-2024 · Table B15003 · Population 25+
94.5%
High School+
National: 89.6%
up from national +4.9 pts vs national
42.7%
Bachelor's+
National: 35.7%
up from national +7.0 pts vs national
16%
Graduate+
National: 14.1%
up from national +1.9 pts vs national
Employment Overview
Source: U.S. Census Bureau · American Community Survey 2020-2024 5-Year Estimates
112,879
Population
60,139
Labor Force
Employed
58,379
Unemployment Rate BLS LAUS 2025 annual
3% up from 2024 +0.4 pts vs 2024
Mean Commute
26.9 min
Work From Home vs 15.1% national
19.1%
Labor Force and Employed are ACS 5-Year survey estimates; the Unemployment Rate above comes from BLS LAUS, a separate monthly survey with its own methodology. The two won't reconcile by subtracting one from the other.
Key Takeaways
- Income premium: Households earn well above the national median, supporting strong retail and housing markets.
- Talent advantage: Bachelor's-or-higher attainment exceeds the national average by 7.0 pts, supports knowledge-economy and tech attraction.
- Aging population: Median age of 43 is materially above the U.S. norm; succession planning and senior-services demand are real factors.
Economy & Industry
Bureau of Labor Statistics QCEW · Bureau of Economic Analysis
$9.2B up from 2023 +0.8% vs 2023
Gross Domestic Product · 2024
+0.8% real (inflation-adjusted)
·
+3.1% nominal
· 2023 to 2024
Source: Bureau of Economic Analysis · level and nominal change from CAGDP2 (current dollars); real change from CAGDP9 (chained 2017 dollars), both all-industry total. The two series agree in 2017, the chain reference year, and diverge by the amount of price change since.
97.9
Cost of Living · metro · Below Avg
Key Takeaways
- Largest private-sector industry: Retail Trade employs 7,659 workers (16% of tracked sectors), at an average wage of $44,599. Every industry figure on this page is private sector; government employs a further 5,966 and is counted separately.
- Economic scale: Regional GDP of $9.2B (2024).
- Wage stratification: Wholesale Trade averages $82,955 while Arts, Entertainment, and Recreation averages $22,873, a 3.6x spread in the same local economy, with implications for workforce development and talent strategy.
Source: BLS QCEW + BEA Regional GDP.
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Industry Concentration
Location Quotient measures regional specialization vs. national average. LQ > 1.0 = concentrated.
Cluster Depth
Source: BLS QCEW · Sub-sectors with LQ ≥ 1.5 indicate genuine cluster concentration
Concentrated Sub-Sectors
12 sub-sectors at LQ ≥ 1.5
Largest grouping among them is Wholesale Trade Cluster at 29% of the employment across all of them, which signals supply-chain fit for site selectors
15,327
Employment in the sub-sectors listed
3.05x
Peak sub-sector LQ
Sub-Sector Detail, Highest 10 By LQ
Paper Manufacturing
3.05x 437
Amusement, Gambling, and Recreation Industries
2.92x 2,190
Wood Product Manufacturing
2.84x 472
Gasoline Stations and Fuel Dealers
2.56x 1,082
Specialty Trade Contractors
2.23x 4,644
Merchant Wholesalers, Nondurable Goods
2.16x 1,923
Couriers and Messengers
2.11x 914
Merchant Wholesalers, Durable Goods
2.04x 2,816
Crop Production
1.85x 406
Miscellaneous Manufacturing
1.79x 443
+ 2 more sub-sectors at LQ ≥ 1.5, holding a further 1,015 jobs not counted in the total above. See the spider chart for the broader picture.
Attraction Opportunities
LQ < 0.5 with ≥ 50 employed, screened against local siting constraints. Source: BLS QCEW
0.07x
Food Manufacturing
52 employed
0.13x
Computer and Electronic Product Manufacturing
55 employed
0.14x
Securities, Commodity Contracts, Investments
62 employed
0.25x
Utilities
59 employed
Screened on industrial power cost, rail-truck intermodal access, land base.
Industrial electricity in Virginia costs 9.45¢/kWh against 8.62¢/kWh nationally (2025).
Virginia has 7 rail-truck intermodal terminals, the nearest 21 miles from the county.
Land area 468 sq mi, larger than 32% of US counties.
Sources: EIA, BTS NTAD, Census Gazetteer.
Key Takeaways
- Top specialization: Paper Manufacturing concentrates at 3.05x the national norm, strong concentration that anchors the local economy and supports supply-chain attraction strategy.
- Cluster depth: 12 sub-sectors register LQ ≥ 1.5, and no single source of demand accounts for more than 34.6% of the employment across them, the largest being freight and distribution. Demand reaches this base from more than one market rather than from a single one.
- Attraction whitespace: 4 sub-sectors register LQ < 0.5 with at least 50 employed, candidates for diversification or recruitment depending on labor-market fit.
Source: BLS QCEW sub-sector Location Quotients.
Housing & Affordability
Census ACS · HUD Fair Market Rents FY2026
Housing Overview
Source: Census Bureau ACS 2020-2024 5-Year Estimates · Tables B25001, B25077, B25064, B25004
$400,400 up from the baseline named below
Median Home Value vs 2019
$1,591 up from the baseline named below
Rent/Mo vs 2019
82.1% down from the baseline named below
Owner-Occ vs 2019
4.3% down from the baseline named below
Vacancy vs 2019
1.1% available
for rent or sale
for rent or sale
3.5x
Home Value to Income Ratio
vs. ~4.1x national average
HUD Fair Market Rents
HUD publishes these by FMR area, which may cover more than one county · Source: HUD · Fair Market Rents FY2026 · Affordability threshold and renter cost burden from Census ACS B25119, B25070
Studio
$1,442/mo
1 Bedroom
$1,507/mo
2 Bedroom
$1,655/mo
3 Bedroom
$2,072/mo
4 Bedroom
$2,553/mo
30% of monthly median renter household income (~$1,713/mo, from a renter median of $68,534) · rents above this line are typically considered cost-burdened.
Measured: 40.1% of renter households already pay 30% or more of income on rent, and 19.9% pay 50% or more.
Key Takeaways
- In line with national: Home value to income ratio of 3.5x sits near the ~4.1x national average; affordability is neither a clear advantage nor a recruitment friction.
- High home ownership: 82.1% owner-occupied; rental supply may be tight for incoming workers.
- Affordable rent tiers: 3 of 5 HUD Fair Market Rent bedroom sizes sit below what a household on the median renter income of $68,534 can pay without cost burden (~$1,713/mo), and 40.1% of renter households are measured as cost-burdened.
Source: Census ACS housing tables + HUD Fair Market Rents.
Workforce Pipeline
Labor force readiness, commuting, and workforce composition
Labor Market Overview
Source: Census ACS 2020-2024 · Tables B01001, B23001, B23025, B08303, B08301
66,846 up from the baseline named below
Working Age (18-64) vs 2019
Mean Commute
26.9 min
Work From Home vs 15.1% national
19.1%
Prime-Age Employed (25-54)
85.8%
of prime-age population
Prime-age rate numerator is civilian employed (B23001); the denominator is total population aged 25-54 (B01001), which also includes armed forces.
of population age 16 and over (91,581)
down from 2019 vs 2019
Education & Talent Pipeline
Source: Census ACS 2020-2024 · Table B15003 · College Scorecard
Bachelor's+
42.7% up from 2019 vs 2019
HS Diploma+
94.5% up from 2019 vs 2019
Institutions in Hanover County
2 institutions in Hanover County reporting credentials to College Scorecard
Credentials awarded in Hanover County
413/yr
384/yr
29/yr
Aging Workforce
Source: Census Bureau ACS · Derived from age & employment tables
24.7%
55-64 of working-age population (18-64)
Same cohort is 14.6% of total population, the basis used in the Demographics cohort chart.
Elevated retirement risk, above the 20% threshold. Succession planning recommended.
Workforce by Occupation
Source: Census ACS 2020-2024 · Table C24010 · Civilian employed population 16+
Management / Professional
49.5%
Service
12.2%
Sales & Office
21.3%
Construction / Maint.
9%
Production / Transport
8%
Bars are drawn on a 0% to 60% axis, so bar length is proportional to actual share. Labels give each group's share of 58,379 employed workers.
Key Takeaways
- Succession risk is real: 24.7% of working-age residents are 55-64. Plan for retirements over the next decade and pair attraction strategy with talent retention.
- Healthy participation: 65.7% labor force participation reflects a steady, available local workforce.
- Talent pipeline: 2 institutions in Hanover County award 413 credentials a year. Employers drawing from a wider labor shed should read this alongside institutions outside the county, which this page does not aggregate.
Source: ACS workforce data and College Scorecard.
AI Insights
Sample output. Pulse AI analysis draws on 10 federal data sources.
Sample AI Insight
Hanover County shows meaningful potential for paper manufacturing attraction, with a 3.05x concentration and 437 jobs in this sub-sector. Near-term succession risk is elevated, with 24.7% of the working-age population within 10 years of retirement age.
The concentrated base spans paper manufacturing, amusement, gambling, and recreation industries, and wood product manufacturing, and no single source of demand accounts for more than 34.6% of the employment across them, the largest being freight and distribution. Supply-chain recruitment has more than one demand base to work from.
Industry Shift Analysis
Manufacturing Automation Risk
High
Healthcare Growth Forecast
+4.2% CAGR
Remote Work Migration
67/100
Prospect Match Scores
Advanced Manufacturing
92/100
Life Sciences
84/100
Data Centers
71/100
Illustrative example
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Data Sources
Updated from official federal government data.
Census ACS 5-Year2024
BLS QCEW2024 annual
BLS LAUS2025 annual
BEA Regional GDP2024
BEA Regional Price Parity2024
Census CBP2023
HUD Fair Market RentsFY2026
FCC Broadband Map2024
USAspending.govFY2026
College ScorecardAY 2022-23
American Community Survey figures on this page are 2020-2024 five-year averages rather than single-year counts. A five-year estimate pools 60 months of survey responses, so each value describes the period as a whole.
Frequently Asked Questions
Key economic and demographic figures for Hanover County, Virginia, from federal data sources.
What is the population of Hanover County, Virginia?
112,879 (U.S. Census Bureau, ACS 5-Year Estimates).
What is the median household income in Hanover County, Virginia?
$112,805 in nominal dollars (U.S. Census Bureau, ACS 5-Year Estimates). Adjusted for local prices using the BEA all-items regional price parity for Richmond, VA (97.9 against a national average of 100), that is $115,225 at national average prices. BEA publishes regional price parity at metro level; there is no county-level figure.
What is the unemployment rate in Hanover County, Virginia?
3% (2025 annual average, U.S. Bureau of Labor Statistics, LAUS).
What is the GDP of Hanover County, Virginia?
$9.2B (U.S. Bureau of Economic Analysis, CAGDP2).
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