Philadelphia s population is 6.1M, with a total workforce of 3.0M. The labor market grew by 12,900 jobs over the past year, up by 0.4%. The median household income in Philadelphia is $72,227, 2.1% higher than last year and 14.3% above the national average of $63,179.
In the housing market, total permits issued totaled 14,537 over the last twelve months, up 4.2% year-over-year. Philadelphia has 338 active new home projects on the market, 9.4% fewer than the 373 from last year. The average list price in the market is $476,199, 7.6% higher than last year and 48.2% above the national average. Over the last three months, new home contracts decreased by 17.8% to 1,331. Middletown and Philadelphia had the highest concentration of the new home contracts in the Philadelphia market.