Philadelphia s population is 6.1M, with a total workforce of 3.0M. The labor market grew by 23,200 jobs over the past year, up by 0.8%. The median household income in Philadelphia is $72,189, 2.0% higher than last year and 14.3% above the national average of $63,179.
In the housing market, total permits issued totaled 14,783 over the last twelve months, up 6.5% year-over-year. Philadelphia has 326 active new home projects on the market, 12.6% fewer than the 373 from last year. The average list price in the market is $462,908, 2.0% higher than last year and 33.8% above the national average. Over the last three months, new home contracts increased by 4.8% to 1,487. Middletown and Philadelphia had the highest concentration of the new home contracts in the Philadelphia market.