Auto · Small-town market · Virginia
Insurance agencies in the Lake of the Woods, VA area
How the Lake of the Woods, VA area compares with other small-town markets and the U.S. for insurance agencies: competitors, household spending, official counts and growth.
Groundwork market score · out of 100
Score 98 out of 100: Very high
Ranked #1 of 537 scored small-town markets
#1 of 3 scored small-town markets based in Virginia
- Listings
- 11
- 5 chain locations (45%)
- Official establishments
- 8
- Businesses with payroll, 2023
- Household spending a year
- $44.3M
- On vehicle insurance · $2,982 a household
- Spending per listing
- $4M
- 3.2 times the U.S.
- Listings per 10k households
- 7.4
- 53% below the U.S.
- Population, 2025
- 40,083
- +10.1% since 2020
See the insurance agencies around any address in the Lake of the Woods area
The site report maps the insurance agencies on map listings near the address, by name and distance, and sizes the households and spending around it. Or open the report at the center of the Lake of the Woods area. Signed out, you see a blurred preview; on an account, each report is one action.
Free10 actions over 3 days, no cardSurvey estimates 2020–2024 · population estimates 2025 · official business counts 2023 · map listings September 2026 · Data credits · How we measure
What this means
For insurance agencies, the Lake of the Woods area has a Groundwork market score of 98 (very high): #1 of 537 scored small-town markets and #1 of 3 scored small-town markets based in Virginia. That puts it in the top 10% of small-town markets for insurance agencies.
Map listings as of September 2026 show 11 insurance agencies in the Lake of the Woods area. Of those, 5 are chain locations, or 45%, against 21% across the U.S. Per 10,000 households, that is 7.4, 53% below the U.S. rate of 15.6.
Households in the Lake of the Woods area spend about $44.3M a year on vehicle insurance, or $2,982 per household, 52% above the U.S. average. Spread across 11 insurance agencies, that is $4M per agency, 3.2 times the U.S. figure of $1.3M.
The official count of businesses with payroll classed as insurance agencies and brokerages in the Lake of the Woods area was 8 in 2023. That is one for every 1,857 households, against one for every 966 across the U.S. Between 2020 and 2025, the population of the Lake of the Woods area grew 10.1%, faster than the U.S. (+3.1%).
How the Lake of the Woods area compares
The same measures for Virginia and the whole U.S. Spending per listing divides a year of household spending on all vehicle insurance by the insurance agencies counted, so it measures the demand for each competitor, not any business’s revenue. Households per establishment does the same with the official count.
| Measure | Lake of the Woods area | Virginia | U.S. |
|---|---|---|---|
| Listings per 10k households | 7.4 | 12.5 | 15.6 |
| Spending per listing | $4M | $2M | $1.3M |
| Households per official establishment | 1,857 | 1,234 | 966 |
| Official establishment growth, 2019–2023 | n/a | −7.4% | −1.0% |
| Population growth, 2020–2025 | +10.1% | +2.8% | +3.1% |
| Spending per household on vehicle insurance | $2,982 | $2,545 | $1,957 |
| Median household income | $94,008 | $93,170 | $80,734 |
| Groundwork market score | 98 | 83 |
Official counts and lending
Businesses
- Official establishments, 2019 to 2023
- 8
- Employees, 2023
- 26
- Annual payroll, 2023
- $1.7M
- One-person businesses, 2023
- Not publishedNot published for this business type
- Map listings, September 2026
- 115 chain locations
- Listings at the U.S. rate for this spending
- 35The U.S. ratio of listings to household spending, applied here
SBA-backed loans since fiscal 2022
- Loans
- 0
- Amount
- $0
SBA-backed loans to businesses classed as insurance agencies and brokerages in the Lake of the Woods area, through June 2026, placed by the borrower’s ZIP code. Official establishments are businesses with payroll; the official counts leave out places with fewer than 3.
Population and households in the Lake of the Woods area
- Population, 2025 estimate
- 40,083+10.1% since 2020
- Households
- 14,856
- Median age
- 42.7
- Homes lived in by their owners
- 79%
- Vehicles per household
- 2.2
- Land area
- 341 sq. mi.
- People per square mile
- 111
- Median household income
- $94,008
- Average household income
- $115,533
- Median home value
- $364,200
- Jobs located here
- 9,522
- Daytime population
- 31,111Residents who don’t work, plus everyone whose job is here
Looking at a specific site in the Lake of the Woods area?
These figures cover the whole small-town market. A site report draws rings around one address and counts what’s inside them: households, spending, jobs, and the insurance agencies on map listings by name and distance.
Or open the report at the center of the Lake of the Woods area. Signed out, you see a blurred preview; on an account, each report is one action.
Free10 actions over 3 days, no cardInsurance agencies across Virginia
Every Virginia market ranked →The highest-scoring small-town markets in Virginia for insurance agencies, numbered among those based in Virginia (a market based in another state is listed without a number), with the Lake of the Woods area marked.
Top small-town markets in Virginia
| Market | Score | Listings | Per 10k households | Spending per listing | Population growth | U.S. rank |
|---|---|---|---|---|---|---|
| 1Lake of the Woods, VA | 98 | 11 | 7.4 | $4M | +10.1% | #1 of 537 |
| 2Danville, VA | 63 | 59 | 13.4 | $1.9M | −1.7% | #154 of 537 |
| 3Martinsville, VA | 61 | 39 | 14.6 | $1.7M | −1.9% | #178 of 537 |
| Bluefield, WV-VA | 53 | 57 | 14.1 | $1.7M | −3.8% | #231 of 537 |
Other business types in the Lake of the Woods area
Each with its Groundwork market score here, out of 100, where it has one.
Food and drink
Groceries and convenience
Auto
Beauty and personal care
Fitness and classes
Health care
Child care
Clothing and laundry
Home services
Real estate
Funeral services
Questions
How many insurance agencies are in the Lake of the Woods, VA area?
There are 11 insurance agencies on map listings in the Lake of the Woods area as of September 2026. 5 of them (45%) are chain locations. The listings count insurance agencies. Official counts show 8 businesses with payroll classed as insurance agencies and brokerages in 2023.
How much do households in the Lake of the Woods, VA area spend on vehicle insurance?
About $44.3M a year, or $2,982 per household. That is 52% above the U.S. average (an index of 152, where 100 is the U.S. average). Spread across the 11 insurance agencies on map listings, it comes to $4M per agency. It is estimated from the incomes of the 14,856 households in the Lake of the Woods area and national spending patterns by income.
How does the Lake of the Woods, VA area compare with the U.S. for insurance agencies?
The Lake of the Woods area has 7.4 insurance agencies per 10,000 households, 53% below the U.S. rate of 15.6. Spending per agency is $4M, 3.2 times the U.S. figure of $1.3M. At the national ratio of insurance agencies to household spending, the Lake of the Woods area would have about 35, against 11 on map listings. There is one business with payroll in the industry for every 1,857 households, against one for every 966 across the U.S.
How fast is the Lake of the Woods, VA area growing?
Population estimates put the Lake of the Woods area at 40,083 people in 2025, up 10.1% since 2020, faster than the U.S. (+3.1%). It has 14,856 households. The median household income in the Lake of the Woods area is $94,008 a year, 16% above the U.S. median of $80,734.
What is the Groundwork market score?
The Groundwork market score runs from 0 to 100 and compares a market with others of its kind for one business type: states with states, metro areas with metro areas, small-town markets and counties with their own. A small-town market is a town of 10,000 to 50,000 people and the county or counties tied to it by commuting. It weighs household spending per competitor (35%), households per business with payroll (25%), population growth (20%) and spending power (20%), each ranked against those peers. A higher score means that, taken together, the market has more household spending and more households for each business already there, faster population growth and more spending per household than similar markets. It describes a market, not any one site or deal. The Lake of the Woods area scores 98 for insurance agencies (very high), #1 of 537 scored small-town markets.
How can I see the market around a specific site?
Run a Groundwork site report on an address in the Lake of the Woods area. It maps the insurance agencies on map listings near the site and sizes the households and spending within the distance you choose. New accounts get 10 actions over 3 days, no card.
How the score works · Top markets for insurance agencies · All 56 business types in the Lake of the Woods area
Screening a site or an acquisition in the Lake of the Woods area?
A site report maps the competitors on map listings near an address and sizes the households and spending around it.
The button opens the report at the center of the Lake of the Woods area. Signed out, you see a blurred preview; on an account, each report is one action.
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are estimates for research only. Not investment or real estate advice.