Portland's population is 2.5M, with a total workforce of 1.2M. The labor market grew by 24,100 jobs over the past year, up by 2.0%. The median household income in Portland is $71,959, 4.8% higher than last year and 17.3% above the national average of $61,372. In the housing market, total permits issued totaled 15,932 over the last twelve months, up 1.6% year-over-year.
Portland has 173 active new home projects on the market, 2.4% more than the 169 from last year. The average list price in the market is $437,237, 11.3% lower than last year and 36.6% above the national average. Over the last three months, new home contracts increased by 15.6% to 1,087. Vancouver and Portland had the highest concentration of the new home contracts in the Portland market.