Foreclosures in Virginia increased in 2009 over the prior year. There was a total of 52,127 properties with foreclosure filings. That works out to a rate of one filing for every 63 households, which compares to the United States average of 45, and is about 1.5 percent of the state's housing units.
Virginia is the 12th largest U.S. state by population, with 7,882,590 people (in 2008). Its 42,774 square miles make it the 35th largest state by area. Median household income in 2008 was $52,104.
Forbes Magazine called Virginia the best state for business for three consecutive years, 2006-2008. The state's proximity to Washington D.C. and the Pentagon assures the presence of major government and defense contractors, plus federal government agencies including the CIA, the Patent and Trademark Office, and the US Geological Survey. Virginia also boasts one of the country's largest concentrations of military bases. Besides its government-related commerce, Virginia's tourism industry, is significant, particularly in cities like Virginia Beach and Colonial Williamsburg.