An r^2 of .81 — the dependent variable is log(number of cases), with log(population) on the right hand side. https://twitter.com/richard_florida/status/1246827366854336515
Looking at per-capita rates, rather than the level, means a lower r^2. But there's still plenty of factors that help explain local covid19 differences: like density, demographics, and climate.

(table below from this thread: https://twitter.com/JedKolko/status/1246155182464839680)
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