RANK #814 / 1001 NAT · #31 / 37 VA · POP 114,919
1YR FORECAST: +0.3%
5YR OUTLOOK: +23%
Albemarle County, Virginia, is often recognized for its connection to Thomas Jefferson, whose Monticello estate is located within its borders. The county is situated in Central Virginia, surrounding the independent city of Charlottesville, and offers a blend of rural landscapes and urban amenities. Commuting to Charlottesville is common, with various public transit options like JAUNT and Charlottesville Area Transit (CAT) serving the area, alongside routes connecting to the University of Virginia. The community provides access to the Blue Ridge Mountains, Shenandoah National Park, and over 90 miles of trails for hiking, biking, and horseback riding, contributing to its natural appeal.
Life in Albemarle County is characterized by a high quality of life, supported by strong schools and a focus on community engagement. The local economy is diverse, with significant contributions from education and healthcare, largely due to the presence of the University of Virginia. There is also a growing emphasis on innovation, particularly in biotechnology, life sciences, and national security sectors, with ongoing efforts to expand industrial infrastructure. Additionally, the agricultural sector, including wineries and local food production, plays a role in the county's economic landscape.
Albemarle County's data profile doesn't fit any single market profile cleanly — its housing, labor, and demographic signals pull in different directions (home prices +1.3% YoY, population +1.1%, wages +2.8%). About 414 U.S. counties show this kind of mixed-signal pattern.
See all 414 Idiosyncratic Markets counties →Overvalued relative to economy
Below national median
Below-average climate & terrain
Above national median (15x)
Housing looks overvalued at 11.6x — home prices are high relative to local economic output. The typical U.S. county is 4–6x.
Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.
Bars show trailing 12-month growth. The dashed Forecast bars are the model's next-12-month projection; the whisker marks the ±1% range (cooling–accelerating).
Source: Redfin · Census BPS — Browse sales on Redfin →
Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →
Source: EPA Air Quality System (2021–2023). Grade based on 3-year average median AQI. Learn about AQI →
| PROJECT | AMOUNT | STATUS |
|---|---|---|
|
AstraZeneca Biopharmaceutical Manufacturing Facility
AstraZeneca
|
$4,500M | Planned |
|
Woodridge Solar Project
Hexagon Energy
|
$220M | Planned |
|
Rivanna Futures (Intelligence & National Security Innovation Campus)
Albemarle County
|
$70M | Under Construction |
|
Northside Drive Industrial Building
Southern Development Group
|
$50M | Under Construction |
|
Albemarle Business Campus
Albemarle Business Campus (ABC)
|
$40M | Under Construction |
Source: public records, news, corporate announcements. Amounts are estimates where noted.
Bars show percentile rank among all 1001 counties.
The data is not encouraging — Albemarle County scores just 18/100 on the Boom Town Index, ranking #814 of 1001 counties. Job growth at +1.0% and median household income of $104,392 reflect an economy that has been contracting or stagnating relative to the rest of the country.
Albemarle County leans toward the expensive side. A median home value of $495,400 against an income-to-home-value ratio of 0.21 means housing eats a bigger share of local earnings than the national norm. Renters face $1,692/month on average.
Albemarle County's population is growing — up +1.1% YoY — while the job market is roughly flat (employment change of +1.0%). Home values shifted +1.3% over the past year. In-migration is outpacing local hiring, which often points to remote workers or retirees driving the headcount.
In significant numbers — 7.02% of Albemarle County's current population relocated from another state, well above the national norm. That level of in-migration usually signals a county where jobs, affordability, or quality of life are pulling people in from elsewhere.