NAICS 52

Finance and Insurance in Charlottesville, VA

Metro Market Score 57.0 (Challenging), ranked #231 of 331 metros. 394 establishments, 2,672 jobs.

Metro Market Score 57.0

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Challenging

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

💰High-Cost Market

Market conditions for finance and insurance in Charlottesville are tougher than average. The 57.0 market score reflects a combination of high labor costs, mixed growth signals, and moderate competition. Rank: #231 of 331 metros.

Industry Concentration

44.7

LQ: 0.58

Rank #148 of 331 metros

Wage Competitiveness

94.3

$143,406 avg wage

Growth Trend

↑ 61.3

Employment growth index

Rank #129 of 331 metros

Wage Pressure

53.5

YoY wage change index

394 Finance and Insurance Firms in Charlottesville

394

Establishments

-1.7% YoY

2,672

Total Employment

+0.1% YoY

$143,406

Average Annual Wage

+9.1% YoY

0.58

Location Quotient

Below national avg

Within Virginia

#5 of 5

finance and insurance metros in state

Virginia state rank

#26 of 51

for finance and insurance entry risk

vs State Median

+15.9

worse than median (41.1)

Charlottesville vs Virginia Statewide

How this metro's finance and insurance market compares to Virginia overall. The state ranks #26/51 for entry risk.

Measure	Charlottesville	VA Statewide
Overall Score	57.0 Challenging	50.8 Elevated
Score Type	Metro Market Score	Entry Risk Score
Rank	#231 of 331 metros	#26 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Charlottesville

Construction 52.9 Information 57.1 Real Estate and Rental and Leasing 57.3 Retail Trade 59.8 Accommodation and Food Services 66.9 Other Services 68.6

Finance and Insurance in Other Virginia Metros

Blacksburg-Christiansburg-Radford 27.5 #30/331 Staunton-Stuarts Draft 37.1 #83/331 Harrisonburg 41.1 #111/331 Winchester 48.8 #162/331

Finance and Insurance Metros With Similar Conditions

Metros within 5 points of Charlottesville's 57.0 score. Useful when comparing markets with comparable entry profiles.

Gainesville, GA 56.9 #230/331 Springfield, OH 56.8 #229/331 Bismarck, ND 57.3 #232/331 Traverse City, MI 57.3 #233/331 Sheboygan, WI 56.7 #228/331 Santa Fe, NM 56.3 #227/331 Myrtle Beach-Conway-North Myrtle Beach, SC 57.8 #234/331 Utica-Rome, NY 57.9 #235/331 Pensacola-Ferry Pass-Brent, FL 57.9 #236/331 Austin-Round Rock-San Marcos, TX 58.0 #237/331

Finance and Insurance in States Bordering Virginia

State-level entry risk for finance and insurance in adjacent states. Use this to weigh cross-border options.

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

Browse Finance and Insurance in Other States

State-level entry risk reports for finance and insurance across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Charlottesville's finance and insurance sector, the wage competitiveness component (94.3) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Charlottesville, VA MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment