Phoenix s population is 4.7M, with a total workforce of 2.1M. The labor market grew by 86,600 jobs over the past year, up by 4.2%. The median household income in Phoenix is $63,737, 3.6% higher than last year and 3.9% above the national average of $61,372. In the housing market, total permits issued totaled 32,026 over the last twelve months, up 8.2% year-over-year. Phoenix has 548 active new home projects on the market, 5.4% fewer than the 579 from last year. The average list price in the market is $323,144, 0.5% lower than last year and 4.3% above the national average. Over the last three months, new home contracts decreased by 7.9% to 3,833. Phoenix and Buckeye had the highest concentration of the new home contracts in the Phoenix market.