Economy, jobs and prices in Virginia, United States: official figures
The economy of Virginia (gross domestic product) was worth $807.9 billion in 2025 at current prices, 2.6% of the US total of $30.86 trillion; 13th largest of 51. In current dollars it was up 5.1% on 2024.
How fast is the economy of Virginia growing?
After adjusting for inflation, real GDP in Virginia grew 2.3% in 2025, against 2.3% for the United States; 18th fastest-growing of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the GDP per capita of Virginia?
Dividing 2025 GDP by the Census Bureau's population estimate gives $90,981 of output per resident, against $90,294 for the US economy divided by the population of the 50 states and DC; 15th highest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyIs the economy of Virginia growing or shrinking?
In the second quarter of 2026, real GDP in Virginia grew at an annual rate of 1.2% (United States: 2.2%); 19th slowest-growing of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat are the main industries in Virginia?
In 2025 the largest private industry in Virginia's economy was real estate, rental and leasing (14.1% of GDP), followed by professional, scientific and technical services (12.4%) and manufacturing (7.3%). Government accounted for 16.2%; the manufacturing share was 15th lowest of 51 (United States: 9.5%).
Source: U.S. Bureau of Economic Analysis · saved copyHow much do people in Virginia spend?
Consumer spending (personal consumption expenditures) in Virginia came to $60,615 per person in 2025 (United States: $61,062); 25th highest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyIs Virginia expensive to live in?
Prices in Virginia were 1.1% above the national average in 2024, by BEA's regional price parity of 101.1 (US = 100), which covers goods, services and housing; 16th most expensive of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the inflation rate in Virginia?
Prices in Virginia rose 2.4% in 2024, measured by BEA's implicit regional price deflator, against 2.6% nationally (PCE price index).
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the per capita income in Virginia?
Personal income per person in Virginia was $80,903 in 2025, against $77,028 for the United States; 12th highest of 51. It was up 4.4% on 2024 and up 31.7% on 2020, before inflation.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the disposable income per person in Virginia?
After taxes, disposable personal income per person was $69,955 in 2025 (United States: $67,251); 14th highest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyHow far does income go in Virginia?
Adjusted for local price levels, real personal income per person in Virginia was $61,914 in 2024 in 2017 dollars (United States: $59,195); 15th highest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the median household income in Virginia?
Median household income in Virginia was $92,090 in 2024 (margin of error ±$831), against $81,604 for the United States; 13th highest of 51 by the point estimate. It was not statistically different from 2023 after adjusting for inflation (American Community Survey).
Source: U.S. Census Bureau · saved copyHow unequal are incomes in Virginia?
The Gini index of household income inequality in Virginia was 0.469 in 2024 (0 means equal incomes, 1 means one household has everything; United States: 0.481); 23rd most unequal of 51.
Source: U.S. Census Bureau · saved copyWhat is the unemployment rate in Virginia?
The unemployment rate in Virginia was 3.6% in September 2026 (seasonally adjusted, preliminary), up from 3.4% a year earlier; tied for 20th lowest of 51. The rate for the 50 states and DC combined was 4.2%.
Source: U.S. Bureau of Labor Statistics · saved copyHow many people are unemployed in Virginia?
In September 2026, 159,553 people in Virginia were unemployed and 4,301,622 employed, out of a labor force of 4,461,175.
Source: U.S. Bureau of Labor Statistics · saved copyWhat was the unemployment rate in Virginia in 2025?
Over 2025 the unemployment rate in Virginia averaged 3.4% (an 11-month average: October 2025 was not collected during the federal shutdown), against 2.9% in 2024; tied for 10th lowest of 51. The lowest annual rate since 1976 was 2.3% in 2000.
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the average salary in Virginia?
Workers covered by unemployment insurance in Virginia were paid $80,093 on average in 2025 ($1,540 a week), up 3.1% on 2024; the US average was $78,720. That is 11th highest of 51.
Source: U.S. Bureau of Labor Statistics · saved copyHow many jobs are there in Virginia?
Employers in Virginia had an average of 4,149,424 jobs on their payrolls in 2025 across 319,557 establishments, up 1.1% on 2024 (United States: up 0.5%).
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the median wage in Virginia?
The median annual wage across all occupations in Virginia was $55,690 in May 2025 (mean $74,040); 17th highest of 51. One in ten workers earned less than $30,530 and one in ten more than $139,010.
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the most common job in Virginia?
The most common occupation in Virginia in May 2025 was fast food and counter workers, with 104,460 workers and a median annual wage of $30,110.
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the median household income in Virginia?
Median household income in Virginia was $92,116 in 2024, 13th highest among the 50 states and DC (U.S.: $81,604). In 2019 it was $76,471, so it has risen 20.5% before allowing for inflation.
Source: U.S. Census Bureau · saved copyWhat is the average rent in Virginia?
The median gross rent in Virginia, including utilities, was $1,646 a month in 2024, up 5.0% on 2023 ($1,567); 12th highest among the 50 states and DC (U.S.: $1,487).
Source: U.S. Census Bureau · saved copyWhat is the median home value in Virginia?
Homeowners in Virginia valued their homes at a median of $403,500 in 2024, up 5.4% on 2023 ($382,900); 18th highest among the 50 states and DC (U.S.: $360,600).
Source: U.S. Census Bureau · saved copyHow affordable are homes in Virginia?
The median home value in Virginia was 4.4 times the median household income in 2024 ($403,500 against $92,116); 22nd highest ratio among the 50 states and DC (U.S.: 4.4).
Source: U.S. Census Bureau · saved copyIs rent affordable in Virginia?
A household on the median income in Virginia would spend 21.4% of its income on the median rent of $1,646 a month in 2024 (U.S.: 21.9%).
Source: U.S. Census Bureau · saved copyHow Virginia compares with other states
Gross domestic product, 2025 (current dollars) (2025)
Virginia ranks 13 of 51, highest first.
| Rank | Region | Gross domestic product, 2025 (current dollars) |
|---|---|---|
| 10 | Washington | $892.3 billion |
| 11 | New Jersey | $887.8 billion |
| 12 | Massachusetts | $813.6 billion |
| 13 | Virginia | $807.9 billion |
| 14 | Michigan | $733.9 billion |
| 15 | Arizona | $592.1 billion |
| 16 | Tennessee | $586.2 billion |
GDP per resident, 2025 (BEA GDP / Census population) (2025)
Virginia ranks 15 of 51, highest first.
| Rank | Region | GDP per resident, 2025 (BEA GDP / Census population) |
|---|---|---|
| 12 | Colorado | $95,610 |
| 13 | New Jersey | $92,980 |
| 14 | Texas | $92,474 |
| 15 | Virginia | $90,981 |
| 16 | New Hampshire | $90,634 |
| 17 | Maryland | $90,501 |
| 18 | Utah | $90,191 |
Real GDP growth, 2025 (2025)
Virginia ranks 18 of 51, highest first.
| Rank | Region | Real GDP growth, 2025 |
|---|---|---|
| 15 | New York | 2.5% |
| 16 | Connecticut | 2.5% |
| 17 | Ohio | 2.4% |
| 18 | Virginia | 2.3% |
| 19 | Oklahoma | 2.2% |
| 20 | Michigan | 2.2% |
| 21 | Tennessee | 2.1% |
Real GDP growth, 2026:Q2 (annual rate) (2026:Q2)
Virginia ranks 33 of 51, highest first.
| Rank | Region | Real GDP growth, 2026:Q2 (annual rate) |
|---|---|---|
| 30 | Indiana | 1.3% |
| 31 | Maryland | 1.3% |
| 32 | Nevada | 1.3% |
| 33 | Virginia | 1.2% |
| 34 | Arkansas | 1.1% |
| 35 | Colorado | 1.0% |
| 36 | Rhode Island | 0.9% |
Personal income per person, 2025 (2025)
Virginia ranks 12 of 51, highest first.
| Rank | Region | Personal income per person, 2025 |
|---|---|---|
| 9 | New Hampshire | $88,145 |
| 10 | Colorado | $86,342 |
| 11 | Maryland | $82,387 |
| 12 | Virginia | $80,903 |
| 13 | Alaska | $80,510 |
| 14 | South Dakota | $78,999 |
| 15 | Illinois | $78,987 |
Real personal income per person, 2024 (adjusted for local prices, 2017 dollars) (2024)
Virginia ranks 15 of 51, highest first.
| Rank | Region | Real personal income per person, 2024 (adjusted for local prices, 2017 dollars) |
|---|---|---|
| 12 | New Jersey | $63,142 |
| 13 | California | $63,028 |
| 14 | Minnesota | $62,039 |
| 15 | Virginia | $61,914 |
| 16 | Maryland | $61,111 |
| 17 | Illinois | $60,333 |
| 18 | Alaska | $60,272 |
Median household income, 2024 (ACS) (2024)
Virginia ranks 13 of 51, highest first.
| Rank | Region | Median household income, 2024 (ACS) |
|---|---|---|
| 10 | Utah | $96,658 |
| 11 | Connecticut | $96,049 |
| 12 | Alaska | $95,665 |
| 13 | Virginia | $92,090 |
| 14 | Delaware | $87,534 |
| 15 | Minnesota | $87,117 |
| 16 | New York | $85,820 |
Regional price parity, 2024 (US = 100) (2024)
Virginia ranks 16 of 51, highest first.
| Rank | Region | Regional price parity, 2024 (US = 100) |
|---|---|---|
| 13 | Colorado | 103.1 |
| 14 | Alaska | 102.4 |
| 15 | Rhode Island | 102.3 |
| 16 | Virginia | 101.1 |
| 17 | Arizona | 100.7 |
| 18 | Nevada | 100.0 |
| 19 | Illinois | 100.0 |
Unemployment rate, September 2026 (seasonally adjusted) (September 2026)
Virginia ranks 29 of 51, highest first.
| Rank | Region | Unemployment rate, September 2026 (seasonally adjusted) |
|---|---|---|
| 26 | Arkansas | 3.9% |
| 27 | Kansas | 3.8% |
| 28 | Pennsylvania | 3.6% |
| 29 | Virginia | 3.6% |
| 30 | Missouri | 3.6% |
| 31 | Idaho | 3.6% |
| 32 | Rhode Island | 3.6% |
Unemployment rate, 2025 annual average (2025)
Virginia ranks 39 of 51, highest first.
| Rank | Region | Unemployment rate, 2025 annual average |
|---|---|---|
| 36 | Tennessee | 3.5% |
| 37 | Iowa | 3.5% |
| 38 | Georgia | 3.4% |
| 39 | Virginia | 3.4% |
| 40 | Oklahoma | 3.4% |
| 41 | Maine | 3.4% |
| 42 | Wyoming | 3.4% |
Labor force participation rate, September 2026 (September 2026)
Virginia ranks 20 of 51, highest first.
| Rank | Region | Labor force participation rate, September 2026 |
|---|---|---|
| 17 | Missouri | 63.3% |
| 18 | Indiana | 63.1% |
| 19 | Illinois | 63.0% |
| 20 | Virginia | 62.7% |
| 21 | Pennsylvania | 62.6% |
| 22 | Oregon | 62.6% |
| 23 | Nevada | 62.3% |
Average annual pay, 2025 (QCEW) (2025)
Virginia ranks 11 of 51, highest first.
| Rank | Region | Average annual pay, 2025 (QCEW) |
|---|---|---|
| 8 | Colorado | $84,153 |
| 9 | Maryland | $81,539 |
| 10 | New Hampshire | $80,892 |
| 11 | Virginia | $80,093 |
| 12 | Illinois | $80,038 |
| 13 | Texas | $77,964 |
| 14 | Minnesota | $76,940 |
Median annual wage, all occupations, May 2025 (OEWS) (May 2025)
Virginia ranks 17 of 51, highest first.
| Rank | Region | Median annual wage, all occupations, May 2025 (OEWS) |
|---|---|---|
| 14 | Vermont | $56,390 |
| 15 | Hawaii | $56,320 |
| 16 | New Hampshire | $55,880 |
| 17 | Virginia | $55,690 |
| 18 | North Dakota | $52,480 |
| 19 | Delaware | $52,190 |
| 20 | Illinois | $51,960 |
Median household income (2024)
Virginia ranks 13 of 51, highest first. Census Bureau SAIPE model estimates
| Rank | Region | Median household income |
|---|---|---|
| 10 | Utah | $96,398 |
| 11 | Alaska | $96,336 |
| 12 | Connecticut | $95,670 |
| 13 | Virginia | $92,116 |
| 14 | Delaware | $87,510 |
| 15 | Minnesota | $87,120 |
| 16 | New York | $85,768 |
Median gross rent (monthly) (2024)
Virginia ranks 12 of 51, highest first. Renter-occupied units paying cash rent
| Rank | Region | Median gross rent (monthly) |
|---|---|---|
| 9 | Maryland | $1,721 |
| 10 | Nevada | $1,709 |
| 11 | Arizona | $1,672 |
| 12 | Virginia | $1,646 |
| 13 | New York | $1,634 |
| 14 | Oregon | $1,597 |
| 15 | Utah | $1,593 |
Median value of owner-occupied homes (2024)
Virginia ranks 18 of 51, highest first. Owner-reported value
| Rank | Region | Median value of owner-occupied homes |
|---|---|---|
| 15 | Maryland | $436,300 |
| 16 | Arizona | $426,000 |
| 17 | Montana | $425,400 |
| 18 | Virginia | $403,500 |
| 19 | Florida | $396,900 |
| 20 | Connecticut | $396,900 |
| 21 | Alaska | $376,500 |
More on Virginia: overview · health · education and schools · poverty and living standards · government budget · the United States
Sources
- U.S. Census Bureau: Household Income in States and Metropolitan Areas: 2024 (ACSBR-025), Appendix Table 1: median household income and Gini index by state, 2023 and 2024 American Community Survey, read 23 October 2026 · saved copy (SHA-256 5de1b0d5ec46…)
- U.S. Bureau of Economic Analysis: SASUMMARY: State annual summary statistics: personal income, GDP, consumer spending, price indexes, and employment (updated 30 September 2026), read 23 October 2026 · saved copy (SHA-256 a3757d207c05…)
- U.S. Bureau of Economic Analysis: SAGDP: Annual GDP by state, 1997-2025 (table SAGDP2, GDP in current dollars by industry), read 23 October 2026 · saved copy (SHA-256 3d3c5bc7bd24…)
- U.S. Bureau of Economic Analysis: SQGDP: Quarterly GDP by state, 2005-2026 Q2 (table SQGDP11, percent change in real GDP at annual rate), read 23 October 2026 · saved copy (SHA-256 1649260cdceb…)
- U.S. Bureau of Labor Statistics: Local Area Unemployment Statistics: employment status of the civilian noninstitutional population, states, monthly, seasonally adjusted, read 23 October 2026 · saved copy (SHA-256 7bb6f18d4145…)
- U.S. Bureau of Labor Statistics: Local Area Unemployment Statistics: employment status of the civilian noninstitutional population, states, annual averages 1976-2025, read 23 October 2026 · saved copy (SHA-256 262aba7d00df…)
- U.S. Bureau of Labor Statistics: Occupational Employment and Wage Statistics, May 2025 state estimates (state_M2025_dl.xlsx), read 23 October 2026 · saved copy (SHA-256 74d5be0e1df8…)
- U.S. Bureau of Labor Statistics: Quarterly Census of Employment and Wages, 2025 annual averages, all industries (open data CSV slice), read 23 October 2026 · saved copy (SHA-256 5a5f89142aae…)
- U.S. Census Bureau: American Community Survey 2024 1-year estimates, table-based summary file: Median gross rent (B25064), read 23 October 2026 · saved copy (SHA-256 8624f9775add…)
- U.S. Census Bureau: American Community Survey 2024 1-year estimates, table-based summary file: Median value of owner-occupied homes (B25077), read 23 October 2026 · saved copy (SHA-256 27120d5d8a5f…)
- U.S. Census Bureau: Small Area Income and Poverty Estimates (SAIPE): 2024 poverty and median household income, states and counties, read 23 October 2026 · saved copy (SHA-256 cb52c47d75c1…)
Each saved copy is the file exactly as downloaded, kept so the figures can be checked even if the source changes. Report an error.