Salt Lake City s population is 1.2M, with a total workforce of 733K. The labor market grew by 15,400 jobs over the past year, up by 2.1%. The median household income in Salt Lake City is $73,778, 3.2% higher than last year and 20.2% above the national average of $61,372.
In the housing market, total permits issued totaled 9,299 over the last twelve months, up 3.3% year-over-year. Salt Lake City has 163 active new home projects on the market, 13.8% fewer than the 189 from last year. The average list price in the market is $417,759, 1.9% lower than last year and 33.6% above the national average. Over the last three months, new home contracts decreased by 7.1% to 989. Herriman and South Jordan had the highest concentration of the new home contracts in the Salt Lake City market.