Washington s population is 6.2M, with a total workforce of 3.3M. The labor market grew by 37,700 jobs over the past year, up by 1.1%. The median household income in Washington is $101,427, 1.8% higher than last year and 60.5% above the national average of $63,179.
In the housing market, total permits issued totaled 26,838 over the last twelve months, up 7.1% year-over-year. Washington has 503 active new home projects on the market, 11.0% fewer than the 565 from last year. The average list price in the market is $551,642, 0.6% lower than last year and 84.2% above the national average. Over the last three months, new home contracts increased by 9.8% to 3,102. Upper Marlboro and Frederick had the highest concentration of the new home contracts in the Washington market.