Portland's population is 2.5M, with a total workforce of 1.2M. The labor market grew by 25,500 jobs over the past year, up by 2.2%. 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 178 active new home projects on the market, 3.5% more than the 172 from last year. The average list price in the market is $509,751, 8.4% higher than last year and 59.3% above the national average. Over the last three months, new home contracts decreased by 12.8% to 828. Vancouver and Portland had the highest concentration of the new home contracts in the Portland market.