Minneapolis population is 3.6M, with a total workforce of 2.0M. The labor market grew by 2,100 jobs over the past year, up by 0.1%. The median household income in Minneapolis is $81,810, 2.8% higher than last year and 29.5% above the national average of $63,179.
In the housing market, total permits issued totaled 22,179 over the last twelve months, up 28.9% year-over-year. Minneapolis has 425 active new home projects on the market, 2.7% fewer than the 437 from last year. The average list price in the market is $438,900, 3.3% lower than last year and 26.0% above the national average. Over the last three months, new home contracts increased by 11.1% to 1,246. Maple Grove and Woodbury had the highest concentration of the new home contracts in the Minneapolis market.