San Jose's population is 2.0M, with a total workforce of 1.1M. The labor market grew by 40,400 jobs over the past year, up by 3.7%. The median household income in San Jose is $114,411, 4.0% higher than last year and 86.4% above the national average of $61,372. In the housing market, total permits issued totaled 8,357 over the last twelve months, up 17.0% year-over-year.
San Jose has 55 active new home projects on the market, 7.8% more than the 51 from last year. The average list price in the market is $1,611,503, 41.8% higher than last year and 403.6% above the national average. Over the last three months, new home contracts decreased by 57.2% to 344. Milpitas and Hollister had the highest concentration of the new home contracts in the San Jose market.