Phoenix s population is 4.9M, with a total workforce of 2.1M. The labor market grew by 58,300 jobs over the past year, up by 2.8%. The median household income in Phoenix is $63,724, 3.6% higher than last year and 3.8% above the national average of $61,372.
In the housing market, total permits issued totaled 32,542 over the last twelve months, up 0.1% year-over-year. Phoenix has 555 active new home projects on the market, 1.8% fewer than the 565 from last year. The average list price in the market is $347,887, 5.8% higher than last year and 11.2% above the national average. Over the last three months, new home contracts increased by 16.0% to 5,723. Phoenix and Buckeye had the highest concentration of the new home contracts in the Phoenix market.