Salt Lake City s population is 1.2M, with a total workforce of 733K. The labor market grew by 16,500 jobs over the past year, up by 2.2%. The median household income in Salt Lake City is $73,439, 2.7% higher than last year and 16.2% above the national average of $63,179.
In the housing market, total permits issued totaled 10,297 over the last twelve months, up 15.5% year-over-year. Salt Lake City has 157 active new home projects on the market, 16.5% fewer than the 188 from last year. The average list price in the market is $403,105, 3.5% lower than last year and 34.6% above the national average. Over the last three months, new home contracts increased by 12.9% to 988. South Jordan and Herriman had the highest concentration of the new home contracts in the Salt Lake City market.