Minneapolis' population is 3.6M, with a total workforce of 2.0M. The labor market grew by 32,400 jobs over the past year, up by 1.6%. The median household income in Minneapolis is $75,261, 2.8% higher than last year and 22.6% above the national average of $61,372. In the housing market, total permits issued totaled 17,754 over the last twelve months, up 12.9% year-over-year.
Minneapolis has 397 active new home projects on the market, 2.5% fewer than the 407 from last year. The average list price in the market is $471,814, 6.9% higher than last year and 47.4% above the national average. Over the last three months, new home contracts increased by 2.5% to 1,152. Woodbury and Maple Grove had the highest concentration of the new home contracts in the Minneapolis market.