Tampa's population is 3.1M, with a total workforce of 1.3M. The labor market grew by 50,700 jobs over the past year, up by 3.9%. The median household income in Tampa is $53,204, 4.1% higher than last year and 13.3% below the national average of $61,372. In the housing market, total permits issued totaled 17,908 over the last twelve months, up 1.0% year-over-year.
Tampa has 395 active new home projects on the market, 3.2% fewer than the 408 from last year. The average list price in the market is $297,244, 0.8% lower than last year and 7.1% below the national average. Over the last three months, new home contracts decreased by 3.2% to 2,336. Riverview and Wesley Chapel had the highest concentration of the new home contracts in the Tampa market.