Cleveland's population is 2.1M, with a total workforce of 1.1M. The labor market grew by 24,100 jobs over the past year, up by 2.3%. The median household income in Cleveland is $54,309, 4.2% higher than last year and 11.5% below the national average of $61,372. In the housing market, total permits issued totaled 2,958 over the last twelve months, down 9.8% year-over-year.
Cleveland has 89 active new home projects on the market, 1.1% more than the 88 from last year. The average list price in the market is $310,118, 9.4% higher than last year and 3.1% below the national average. Over the last three months, new home contracts increased by 7.5% to 331. North Ridgeville and Medina had the highest concentration of the new home contracts in the Cleveland market.