Cleveland s population is 2.1M, with a total workforce of 1.1M. The labor market grew by 6,300 jobs over the past year, up by 0.6%. The median household income in Cleveland is $53,851, 2.6% higher than last year and 14.8% below the national average of $63,179.
In the housing market, total permits issued totaled 2,852 over the last twelve months, down 3.6% year-over-year. Cleveland has 93 active new home projects on the market, 2.2% more than the 91 from last year. The average list price in the market is $288,536, 2.7% lower than last year and 12.1% below the national average. Over the last three months, new home contracts increased by 6.0% to 369. North Ridgeville and Elyria had the highest concentration of the new home contracts in the Cleveland market.