NAICS 23

Construction in Virginia: 2026 Market Risk Report

Entry risk 39.0 (Moderate), ranked #18 of 51 states. 23,062 establishments, 217,926 jobs.

Entry Risk Assessment

Entry Risk Score 39.0
Low 0-30
Moderate 30-42
Elevated 42-55
High 55+
Moderate

ⓘ Lower is better. Relative to national construction average.

The construction sector in Virginia is tracking close to the U.S. baseline, with no extreme signals in volatility, saturation, or wage pressure. Entry conditions are within the national median range.

5-Year Firm Retention
56.9%
Percentile within industry
Rank #23 of 51 states
Growth Momentum
8.2
Scale of 0-100
Rank #46 of 51 states
Establishment Density
12.8
vs. national average
Rank #22 of 51 states
Market Volatility
0.0
Lower is more stable
Wage Pressure Index
55.0
Labor cost pressure

23,062 Establishments in Virginia

23,062
Establishments
-2.7% YoY
217,926
Total Employment
+2.1% YoY
$78,741
Average Annual Wage
+5.4% YoY

Virginia vs National Construction Average

How Virginia's construction market compares to the national average across all 51 states.

Metric VA National Difference
Entry Risk Score 39.0 44.2 -5.2
5-Year Retention 56.9% 51.0% +5.9
Growth Momentum 8.2 30.9 -22.7
Market Volatility 0.0 20.9 -20.9
Establishment Density 12.8 24.6 -11.8
Wage Pressure 55.0 57.1 -2.1

Green = favorable vs national average. Red = less favorable. Metrics are relative within construction only.

Virginia Ranks #18 of 51 for Construction

Virginia ranks #18 out of 51 states for construction market entry conditions.

Construction Entry Risk by State

Rank State Risk Score Classification
#1 Wisconsin 25.1 low
#2 Michigan 28.0 low
#3 Pennsylvania 28.4 low
#4 Alabama 30.3 moderate
#5 Nebraska 32.5 moderate
#18 Virginia You 39.0 moderate
Entry Risk by State Alaska — 60.9 · #50 Alabama — 30.3 · #4 Arkansas — 34.3 · #8 Arizona — 38.6 · #16 California — 47.8 · #32 Colorado — 53.2 · #40 Connecticut — 43.2 · #27 District of Columbia — 56.9 · #45 Delaware — 43.0 · #26 Florida — 54.5 · #42 Georgia — 42.1 · #25 Hawaii — 61.1 · #51 Iowa — 34.3 · #7 Idaho — 58.4 · #48 Illinois — 49.1 · #34 Indiana — 35.0 · #11 Kansas — 51.5 · #38 Kentucky — 39.8 · #19 Louisiana — 53.6 · #41 Massachusetts — 41.5 · #23 Maryland — 35.0 · #12 Maine — 35.5 · #13 Michigan — 28.0 · #2 Minnesota — 37.3 · #14 Missouri — 54.6 · #43 Mississippi — 50.8 · #36 Montana — 45.0 · #28 North Carolina — 38.2 · #15 North Dakota — 58.3 · #47 Nebraska — 32.5 · #5 New Hampshire — 32.6 · #6 New Jersey — 48.3 · #33 New Mexico — 47.4 · #31 Nevada — 39.8 · #20 New York — 51.1 · #37 Ohio — 41.7 · #24 Oklahoma — 52.2 · #39 Oregon — 54.8 · #44 Pennsylvania — 28.4 · #3 Rhode Island — 38.8 · #17 South Carolina — 47.0 · #30 South Dakota — 34.7 · #9 Tennessee — 34.8 · #10 Texas — 46.3 · #29 Utah — 40.1 · #22 Virginia — 39.0 · #18 Vermont — 40.0 · #21 Washington — 58.1 · #46 Wisconsin — 25.1 · #1 West Virginia — 49.5 · #35 Wyoming — 59.3 · #49
Low Moderate Elevated High

Tap a state to view details

About Entry Risk Score: A weighted composite of firm retention, growth momentum, market volatility, establishment density, and wage pressure. Lower scores indicate more favorable conditions. Read full methodology →

Data Sources

Data period: 2024. Last updated: February 2026. Next refresh expected: Q2 2026 (BLS QCEW update).

Compare to Another State

How does Virginia stack up against other states for construction?

Select a state above to see the comparison

Construction in Neighboring States

How Virginia's construction market compares to bordering states.

Tennessee 34.8 #10/51 Maryland 35.0 #12/51 North Carolina 38.2 #15/51 Kentucky 39.8 #19/51 West Virginia 49.5 #35/51 District of Columbia 56.9 #45/51

Other Industries in Virginia

Healthcare and Social Assistance → Retail Trade → Accommodation and Food Services → Professional, Scientific, and Technical Services → Finance and Insurance → Real Estate and Rental and Leasing → Administrative and Support Services → Information → Other Services →