Minneapolis population is 3.6M, with a total workforce of 2.0M. The labor market lost 6,300 jobs over the past year, down by 0.3%. The median household income in Minneapolis is $78,553, 2.2% higher than last year and 28.0% above the national average of $61,372.
In the housing market, total permits issued totaled 19,192 over the last twelve months, up 12.3% year-over-year. Minneapolis has 403 active new home projects on the market, 3.8% fewer than the 419 from last year. The average list price in the market is $460,932, 4.1% higher than last year and 47.4% above the national average. Over the last three months, new home contracts decreased by 7.9% to 1,183. Woodbury and Lakeville had the highest concentration of the new home contracts in the Minneapolis market.