Raleigh's population is 1.3M, with a total workforce of 616K. The labor market grew by 18,700 jobs over the past year, up by 3.0%. The median household income in Raleigh is $73,884, 3.1% higher than last year and 20.4% above the national average of $61,372. In the housing market, total permits issued totaled 17,023 over the last twelve months, up 20.8% year-over-year.
Raleigh has 381 active new home projects on the market, 4.7% more than the 364 from last year. The average list price in the market is $355,363, 3.7% higher than last year and 11.0% above the national average. Over the last three months, new home contracts increased by 5.5% to 2,000. Apex and Clayton had the highest concentration of the new home contracts in the Raleigh market.