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Economy

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2021 Volusia County
GDP

$17 Billion

2021 Volusia County
Exports

$304 Million

2022 Employed
Workforce 

256,029

2022 New Commercial
Building Permits

$726 Million

2022 New Residential
Building Permits

$1.33 Billion

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Gross Domestic Product

Volusia County's strong GDP of $17.7 billion is ranked 14th out of 67 counties in Florida.

The chart is showing the Volusia County Annual GDP from 2012 to 2021. Click the image link for a pdf with details. 

Exports

The Deltona-Daytona-Ormond MSA is ranked 11th out of 22 MSAs in Florida for exports. The top exports consist of Transportation Equipment, Machinery, Computer & Electronic Products, abd Electrical Equipment respectively by value and make up 59% of the products exported.

Deltona-Daytona-Ormond Beach MSA Exports chart. Click image for pdf of chart with details.

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Employment

Volusia County employment dropped 6% due to the COVID pandemic and has since recovered by 10%. View the most current labor statistics reported monthly. 

Chart showing Volusia County total employed workforce from 2011 to 2021. Click image for pdf of chart with details.

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Commercial Building Activity

For the 12 months ending September 2023, an average of $122.7 million per month in new ground up commercial building permits have been issued.

This chart shows a 3-year history by quarter of new commercial construction building permits in Volusia County. There were 31 commercial building permits issued in the 3rd quarter 2023 for a value of $75 million. This brings the year-to-date total to 151 permits with a value of $337 million. In 2022, there was a total of 199 permits and a value of $820 million. Total permits for 2021 were 203 for a value of $336 million.

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Residential Building Activity & Housing

For the 12 months ending September 2023, an average of 299 new residential building permits have been issued per month. That's an average of $108 million per month in single family residential permits.

This chart shows a 3 year history by quarter of residential new construction building permits in Volusia County. There were 997 permits issued in the 3rd quarter 2023 for a value of $384 million. This brings the year-to-date total to 2,763 permits with a value of $1.01 billion. In 2022, there was a total of 4,047 permits and a value of $1.33 billion. Total permits for 2021 were 4,367 for a value of $1.335 billion.

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Residential Building Permit Trend

Residential building permit activity has increased steadily every year since 2012 with the average value of homes constructed in 2022 at $328,550 whereas values were $188,611 at the height of activity in 2005. 

The residential new construction building permit trend chart displays the number and total value of permits issued from 2003 to 2022. In 2003, there were 5,728 permits issued with a value of $857 million. That total peaked in 2005 to 6,857 permits with a value of $1.29 billion. From 2006 to 2011, the number of permits fell sharply to a low of 474 permits in 2011 with a value of $131 million. From 2012 to 2022, there has been a steady increase in permits with 2022 closing out with 4,047 permits issued with a value of $1.33 billion, indicating the average value of permits increased from approximately $188,611 in 2005 to approximately $328,550.

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Single Family Typical Home Value

The average single family home value rose sharply 37% from 2020 to 2022.

The chart is showing the steady increase of single family typical home values from 2012 where it was $106,957 and as of the end of 2022, the average home value was $315,142. From 2020 to 2022, the average single family home value increased 37%.

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Residential Foreclosure Filings

Volusia County has had a continuous downward trend of foreclosure filings since the peak in 2010. 

The chart is showing the steady increase of single family typical home values from 2012 where it was $106,957 and as of the end of 2022, the average home value was $315,142. From 2020 to 2022, the average single family home value increased 37%.

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