Minneapolis population is 3.6M, with a total workforce of 2.0M. The labor market lost 14,000 jobs over the past year, down by 0.7%. The median household income in Minneapolis is $77,873, 1.3% higher than last year and 23.3% above the national average of $63,179.
In the housing market, total permits issued totaled 19,098 over the last twelve months, up 8.7% year-over-year. Minneapolis has 417 active new home projects on the market, 3.5% fewer than the 432 from last year. The average list price in the market is $457,343, 0.3% lower than last year and 52.8% above the national average. Over the last three months, new home contracts increased by 11.6% to 1,342. Maple Grove and Lakeville had the highest concentration of the new home contracts in the Minneapolis market.