Chicago's population is 9.5M, with a total workforce of 4.7M. The labor market grew by 45,200 jobs over the past year, up by 1.0%. The median household income in Chicago is $70,407, 2.9% higher than last year and 14.7% above the national average of $61,372. In the housing market, total permits issued totaled 18,321 over the last twelve months, down 10.6% year-over-year. Chicago has 400 active new home projects on the market, 7.0% fewer than the 430 from last year. The average list price in the market is $356,102, 5.4% lower than last year and 15.0% above the national average. Over the last three months, new home contracts decreased by 11.6% to 1,017. Chicago and Naperville had the highest concentration of the new home contracts in the Chicago market.