Virginia Ranks #5 on Forbes’ Best States for Business List
November 29, 2017
Forbes has published their ranking of the best states in which to do business, and Virginia landed near the top at #5. The Commonwealth’s high ranking can be attributed to several factors, including Virginia’s Gross State Product, which totaled $480 billion as of November 2017. The state’s median household income is currently $65,015, and the cost of doing business is just 0.9% above the national average.
Additionally, Virginia’s college attainment is an impressive 37%, and the job market has grown 1.4% over the last year. As Virginia REALTORS®‘ recent economic impact report revealed, Virginia’s real estate industry is the state’s second largest generator of direct economic activity.
The Old Dominion State has landed other top spots on recent Forbes lists, coming in at #2 in Regulatory Environment, and #8 in Quality of Life.
You might also like…
Challenges for Gen Z in the Rental Market
By Dominique Fair - November 28, 2023
The rental market has experienced several challenges over the last three years due to increased rental demand and a lack of inventory. By March of 2022, rental… Read More
High Mortgage Rates Keep Home Buyers and Sellers on the Sidelines
By Robin Spensieri - November 21, 2023
According to the October 2023 Virginia Home Sales Report released by Virginia REALTORS®, there were 7,764 homes sold in Virginia in October. This is 12.1% fewer sales than last October,… Read More
DPA One® – Freddie Mac’s “One-Stop Shop” for Down Payment Assistance Programs
By Sejal Naik - November 14, 2023
Last month, Freddie Mac launched DPA One® aimed at serving as a matching tool for borrowers to a variety of down payment assistance programs nationwide. Down payment is… Read More