Baltimore's population is 2.8M, with a total workforce of 1.4M. The labor market grew by 18,300 jobs over the past year, up by 1.3%. The median household income in Baltimore is $79,288, 2.4% higher than last year and 29.2% above the national average of $61,372. In the housing market, total permits issued totaled 8,531 over the last twelve months, up 40.6% year-over-year. Baltimore has 199 active new home projects on the market, 11.2% fewer than the 224 from last year. The average list price in the market is $570,857, 5.3% higher than last year and 84.3% above the national average. Over the last three months, new home contracts decreased by 15.7% to 815. Hanover and Ellicott City had the highest concentration of the new home contracts in the Baltimore market.