NAICS 52

Finance and Insurance in Virginia: 2026 Market Risk Report

Entry risk 50.8 (Elevated), ranked #26 of 51 states. 13,734 establishments, 145,137 jobs.

Entry Risk Assessment

Entry Risk Score 50.8
Low 0-30
Moderate 30-42
Elevated 42-55
High 55+
Elevated

ⓘ Lower is better. Relative to national finance and insurance average.

⛔High Barrier to Entry

Virginia's finance and insurance sector shows high establishment density (top 15 nationally) paired with firm retention in the bottom half. This combination indicates elevated competitive pressure on new market entrants.

5-Year Firm Retention
31.4%
Percentile within industry
Rank #36 of 51 states
Growth Momentum
34.4
Scale of 0-100
Rank #22 of 51 states
Establishment Density
20.8
vs. national average
Rank #12 of 51 states
Market Volatility
8.8
Lower is more stable
Wage Pressure Index
52.5
Labor cost pressure

13,734 Establishments in Virginia

13,734
Establishments
+1.1% YoY
145,137
Total Employment
-0.8% YoY
$129,122
Average Annual Wage
+4.2% YoY

Virginia vs National Finance and Insurance Average

How Virginia's finance and insurance market compares to the national average across all 51 states.

Metric VA National Difference
Entry Risk Score 50.8 51.9 -1.1
5-Year Retention 31.4% 51.0% -19.6
Growth Momentum 34.4 34.4 -0.0
Market Volatility 8.8 9.6 -0.8
Establishment Density 20.8 42.5 -21.7
Wage Pressure 52.5 66.8 -14.3

Green = favorable vs national average. Red = less favorable. Metrics are relative within finance and insurance only.

Virginia Ranks #26 of 51 for Finance and Insurance

Virginia ranks #26 out of 51 states for finance and insurance market entry conditions.

Finance and Insurance Entry Risk by State

Rank State Risk Score Classification
#1 Hawaii 37.0 moderate
#2 West Virginia 39.8 moderate
#3 Kentucky 40.0 moderate
#4 Rhode Island 41.9 moderate
#5 Maine 42.0 elevated
#26 Virginia You 50.8 elevated
Entry Risk by State Alaska — 49.7 · #21 Alabama — 48.4 · #18 Arkansas — 44.7 · #7 Arizona — 52.6 · #29 California — 46.9 · #12 Colorado — 67.3 · #50 Connecticut — 73.7 · #51 District of Columbia — 47.9 · #13 Delaware — 57.7 · #44 Florida — 61.9 · #46 Georgia — 56.4 · #40 Hawaii — 37.0 · #1 Iowa — 54.3 · #35 Idaho — 56.2 · #39 Illinois — 46.2 · #10 Indiana — 45.4 · #9 Kansas — 57.0 · #42 Kentucky — 40.0 · #3 Louisiana — 42.0 · #6 Massachusetts — 48.2 · #15 Maryland — 52.6 · #30 Maine — 42.0 · #5 Michigan — 49.8 · #23 Minnesota — 46.6 · #11 Missouri — 57.7 · #43 Mississippi — 54.5 · #36 Montana — 59.0 · #45 North Carolina — 48.4 · #17 North Dakota — 52.1 · #28 Nebraska — 49.4 · #20 New Hampshire — 49.8 · #22 New Jersey — 53.2 · #32 New Mexico — 53.1 · #31 Nevada — 55.6 · #38 New York — 65.4 · #49 Ohio — 48.2 · #14 Oklahoma — 64.9 · #48 Oregon — 56.7 · #41 Pennsylvania — 48.8 · #19 Rhode Island — 41.9 · #4 South Carolina — 48.4 · #16 South Dakota — 50.1 · #24 Tennessee — 53.4 · #33 Texas — 50.4 · #25 Utah — 51.9 · #27 Virginia — 50.8 · #26 Vermont — 53.6 · #34 Washington — 55.5 · #37 Wisconsin — 45.3 · #8 West Virginia — 39.8 · #2 Wyoming — 62.0 · #47
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 finance and insurance?

Select a state above to see the comparison

Finance and Insurance in Neighboring States

How Virginia's finance and insurance market compares to bordering states.

West Virginia 39.8 #2/51 Kentucky 40.0 #3/51 District of Columbia 47.9 #13/51 North Carolina 48.4 #17/51 Maryland 52.6 #30/51 Tennessee 53.4 #33/51

Other Industries in Virginia

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