Durham's population is 567K, with a total workforce of 310K. The labor market grew by 6,300 jobs over the past year, up by 2.0%. The median household income in Durham is $57,844, 3.0% higher than last year and 5.7% below the national average of $61,372. In the housing market, total permits issued totaled 5,447 over the last twelve months, up 21.5% year-over-year.
Durham has 88 active new home projects on the market, 12.0% fewer than the 100 from last year. The average list price in the market is $407,197, 8.8% higher than last year and 27.2% above the national average. Over the last three months, new home contracts increased by 14.4% to 635. Durham and Chapel Hill had the highest concentration of the new home contracts in the Durham market.