Phoenix s population is 4.7M, with a total workforce of 2.1M. The labor market grew by 64,300 jobs over the past year, up by 3.1%. The median household income in Phoenix is $63,869, 3.8% higher than last year and 4.1% above the national average of $61,372. In the housing market, total permits issued totaled 30,499 over the last twelve months, down 1.0% year-over-year. Phoenix has 557 active new home projects on the market, 6.2% fewer than the 594 from last year. The average list price in the market is $346,690, 6.3% higher than last year and 14.5% above the national average. Over the last three months, new home contracts decreased by 7.3% to 4,763. Phoenix and Mesa had the highest concentration of the new home contracts in the Phoenix market.