Austin's population is 2.1M, with a total workforce of 1.0M. The labor market grew by 32,000 jobs over the past year, up by 3.1%. The median household income in Austin is $73,493, 3.5% higher than last year and 19.8% above the national average of $61,372. In the housing market, total permits issued totaled 28,706 over the last twelve months, up 13.6% year-over-year.
Austin has 584 active new home projects on the market, 1.7% fewer than the 594 from last year. The average list price in the market is $317,603, 0.6% lower than last year and 0.8% below the national average. Over the last three months, new home contracts increased by 20.7% to 3,867. Austin and Georgetown had the highest concentration of the new home contracts in the Austin market.