Las Vegas' population is 2.2M, with a total workforce of 976K. The labor market grew by 32,300 jobs over the past year, up by 3.3%. The median household income in Las Vegas is $55,893, 2.8% higher than last year and 8.9% below the national average of $61,372. In the housing market, total permits issued totaled 12,800 over the last twelve months, down 0.2% year-over-year.
Las Vegas has 238 active new home projects on the market, 16.8% fewer than the 286 from last year. The average list price in the market is $394,283, 1.8% higher than last year and 23.1% above the national average. Over the last three months, new home contracts increased by 2.7% to 2,667. Las Vegas and Henderson had the highest concentration of the new home contracts in the Las Vegas market.