Baltimore's population is 2.8M, with a total workforce of 1.4M. The labor market grew by 23,200 jobs over the past year, up by 1.7%. The median household income in Baltimore is $79,858, 4.0% higher than last year and 30.1% 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 195 active new home projects on the market, 13.3% fewer than the 225 from last year. The average list price in the market is $577,660, 11.6% higher than last year and 80.5% above the national average. Over the last three months, new home contracts increased by 5.5% to 923. Odenton and Hanover had the highest concentration of the new home contracts in the Baltimore market.