Minneapolis population is 3.6M, with a total workforce of 2.0M. The labor market grew by 3,700 jobs over the past year, up by 0.2%. The median household income in Minneapolis is $78,755, 2.5% higher than last year and 28.3% above the national average of $61,372. In the housing market, total permits issued totaled 17,563 over the last twelve months, up 12.2% year-over-year. Minneapolis has 391 active new home projects on the market, 7.6% fewer than the 423 from last year. The average list price in the market is $437,446, 2.5% higher than last year and 44.5% above the national average. Over the last three months, new home contracts decreased by 0.1% to 1,363. Lakeville and Woodbury had the highest concentration of the new home contracts in the Minneapolis market.
