Washington s population is 6.2M, with a total workforce of 3.3M. The labor market grew by 53,300 jobs over the past year, up by 1.6%. The median household income in Washington is $103,454, 1.2% higher than last year and 63.7% above the national average of $63,179.
In the housing market, total permits issued totaled 25,592 over the last twelve months, down -0.7% year-over-year. Washington has 480 active new home projects on the market, 14.4% fewer than the 561 from last year. The average list price in the market is $589,500, 4.4% higher than last year and 69.3% above the national average. Over the last three months, new home contracts increased by 0.9% to 2,745. Frederick and Fredericksburg had the highest concentration of the new home contracts in the Washington market.