A method is developed to derive algebraic equations for the geometric measure of entanglement of three-qubit pure states. The equations are derived explicitly and solved in the cases of most interest. These equations allow one to derive analytic expressions of the geometric entanglement measure in a wide range of three-qubit systems, including the general class of W states and states which are symmetric under the permutation of two qubits. The nearest separable states are not necessarily unique, and highly entangled states are surrounded by a one-parametric set of equally distant separable states. A possibility for physical applications of the various three-qubit states to quantum teleportation and superdense coding is suggested from the aspect of entanglement.
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