Watford
Economic profile. Data last updated 2026-03-28.
Watford supports 68,820 workplace jobs with median earnings 12% above the England average. The claimant rate (4.5%) is higher than the England average of 4.1%. Productivity (GVA per job) is ranked 201st of 391 local authorities.
Source: ONS, Nomis, HM Land Registry, 2024-2025·Last updated March 2026
Employment & Labour Market
Monthly claimant count rate over the past 3 years.
Source: Claimant Count via Nomis, BRES, 2020-2026·Last updated March 2026
Industry Structure
Location quotients and shift-share analysis for Watford's economy.
The most specialised sector is Professional, scientific & technical (LQ 2.75). Real estate shows the strongest local competitive advantage. Information & communication underperforms its national sectoral trend.
Source: BRES via Nomis, 2020-2024·Last updated March 2026
Economic Output
Estimated Gross Value Added for Watford, derived from sector employment and national productivity ratios.
Estimates based on national GVA-per-job ratios applied to local sector employment (BRES). Indicative only. See Methodology for details.
Earnings & Income
Gross annual earnings distribution, 2025.
Median annual earnings of £37,172 are above the England median of £33,080.
Source: ASHE via Nomis, 2025·Last updated March 2026
Skills & Qualifications
Census 2021 highest qualification and occupation data.
Source: Census 2021, ONS
Demographics
Census 2021 population by age band.
The population is 102,243 with 67.8% of working age. The dependency ratio is 47.6%.
Source: Census 2021, ONS·Last updated 2021
Commuting & Travel to Work
Census 2021 method of travel to work for Watford residents.
33.9% of residents work from home. The most common commute method is driving a car or van (37.8%).
Source: Census 2021 TS061, ONS·Last updated 2021
Business Environment
Active enterprises in Watford from the UK Business Counts dataset.
5,015 active enterprises operate in this area. The business base has grown by 0.6% over three years. 78.1% of enterprises have fewer than 5 employees.
Source: UK Business Counts via Nomis, 2024·Last updated March 2026
Housing & Property Market
Estimated house prices for Watford vs England, 2015-2025.
The median house price of £309,579 is above the England median of £290,000. The price-to-earnings ratio is 8.3x. Prices have risen 1.8% over the past year.
Source: HM Land Registry, Census 2021, 2015-2025·Last updated March 2026
Place & Deprivation
Index of Multiple Deprivation 2019. Watford is ranked 195 out of 317 local authorities (1 = most deprived).
Ranked 195th of 317 local authorities on the IMD (1 = most deprived). The most challenging domain is Barriers to Housing & Services (ranked 55th), while Education, Skills & Training ranks comparatively better (249th).
Source: MHCLG English Indices of Deprivation, 2019·Last updated 2019
Impact Calculator
Estimate the economic impact of investment or job creation in Watford using regional input-output multipliers.
Source: Derived from ONS Supply-Use Tables, regionalized via SLQ, 2019·Last updated March 2026