Salt Lake City s population is 1.2M, with a total workforce of 749K. The labor market grew by 19,400 jobs over the past year, up by 2.6%. The median household income in Salt Lake City is $73,980, 0.3% higher than last year and 17.1% above the national average of $63,179.
In the housing market, total permits issued totaled 10,640 over the last twelve months, up 21.1% year-over-year. Salt Lake City has 144 active new home projects on the market, 23.8% fewer than the 189 from last year. The average list price in the market is $403,340, 3.8% lower than last year and 15.8% above the national average. Over the last three months, new home contracts increased by 33.9% to 955. South Jordan and Herriman had the highest concentration of the new home contracts in the Salt Lake City market.