Houston s population is 7.0M, with a total workforce of 3.1M. The labor market grew by 89,000 jobs over the past year, up by 2.9%. The median household income in Houston is $66,552, 4.3% higher than last year and 8.4% above the national average of $61,372.
In the housing market, total permits issued totaled 59,211 over the last twelve months, up 15.2% year-over-year. Houston has 1,128 active new home projects on the market, 6.7% fewer than the 1,209 from last year. The average list price in the market is $307,446, 0.8% lower than last year and 1.7% below the national average. Over the last three months, new home contracts increased by 16.5% to 7,694. Houston and Katy had the highest concentration of the new home contracts in the Houston market.