U.S. County Economies Show Broad Growth in 2024 Despite Regional Volatility

Overview of County GDP Performance

Real gross domestic product rose in 2,273 counties, fell in 809 counties and remained unchanged in 24 counties during 2024, according to estimates from the U.S. Bureau of Economic Administration. The changes in real GDP spanned a wide range, from an increase of 76.6 percent in one county to a decline of 46.3 percent in another. These figures illustrate both the breadth of economic expansion across much of the country and the persistence of localized contractions.

The scale of county economies also differed dramatically. Real GDP in 2024 ranged from $813.7 billion in the largest county economy down to $15.7 million in the smallest. Such variation underscores the structural differences between urban centers with diversified industries and rural areas often dependent on narrower economic bases. The data, released in a combined report on GDP and personal income, mark the first time the agency has issued these county-level statistics together.

Patterns Across County Size Categories

When examined by population size, clear differences emerge in both the direction and magnitude of growth. Among large counties, those with populations exceeding 500,000, 145 experienced growth while none recorded declines and one showed no appreciable change. The growth rates in this group ranged up to 10.7 percent. Medium-sized counties, with populations between 100,000 and 500,000, saw 451 grow, 20 decline and three remain essentially flat, with growth reaching as high as 12.4 percent.

Small counties displayed the greatest dispersion. Of these, 1,677 recorded real GDP increases, 789 saw decreases and 20 were unchanged. The growth range was particularly wide, extending to 76.6 percent on the upside and 46.3 percent on the downside. The smallest economies, often in remote or specialized areas, appear more susceptible to sharp swings, possibly tied to commodity prices, weather events or single large projects.

Personal Income Trends and Variation

Personal income, measured in current dollars, increased in 2,768 counties, decreased in 331 counties and was unchanged in seven counties in 2024. The percent changes ranged from a 22.6 percent rise in one county to a 23.3 percent drop in another. Compared with real GDP, personal income growth was more broadly based, with fewer counties experiencing declines. This pattern may reflect the inclusion of transfer payments and other income sources that can stabilize household finances even when local production contracts.

The absolute levels of personal income also varied widely, from $818.5 billion in the largest county to $10.6 million in the smallest. Among large counties, 146 posted growth with none declining and two showing no change, with the highest growth rate reaching 9.7 percent. Medium counties saw 474 increases, while small counties accounted for the bulk of both gains and losses. The data highlight how income trends do not always move in lockstep with output, particularly in counties where non-labor income plays a larger role.

Methodological Updates and Revisions

The 2024 estimates incorporate BEA’s annual updates to both GDP and personal income by county, which include revisions to figures for 2020 through 2023. These revisions draw on more complete source data and align county statistics with the national income and product accounts as well as state-level updates released in September 2025. Such periodic revisions are standard to improve accuracy as additional information becomes available.

Notable presentational changes accompanied the release. Connecticut’s estimates now use the state’s planning region definitions rather than county boundaries, though these new figures are available only for 2024 and are therefore excluded from the reported percent change ranges. In addition, the agency has discontinued publication of statistics for metropolitan statistical areas, micropolitan areas and related divisions, focusing instead on county-level detail. Tables previously embedded in news releases have been moved to an interactive data application to reduce duplication and enhance usability.

Implications for Understanding Local Economies

The combined release offers a fuller view of county economic conditions than was previously available from separate publications. By presenting GDP and personal income data together, analysts can better assess how production and income trends interact at the local level. For instance, counties experiencing GDP declines but personal income growth may be benefiting from fiscal transfers or investment income that cushions the impact on residents.

At the same time, the wide ranges observed—particularly among smaller counties—point to continued divergence in economic performance across the United States. While most counties saw gains in both measures, the magnitude of changes in certain areas suggests that national averages mask significant regional heterogeneity. Future releases, including the next set of 2025 estimates scheduled for December 2026, will provide further insight into whether these patterns persist or shift as more data become available.

Source

U.S. Bureau of Economic Analysis published this record on 2026-02-05. Pennington Financial accessed it on 2026-10-23.