Portland s population is 2.5M, with a total workforce of 1.2M. The labor market grew by 12,000 jobs over the past year, up by 1.0%. The median household income in Portland is $78,616, 4.0% higher than last year and 24.4% above the national average of $63,179.
In the housing market, total permits issued totaled 16,201 over the last twelve months, up 11.4% year-over-year. Portland has 296 active new home projects on the market, 3.1% more than the 287 from last year. The average list price in the market is $492,442, 4.4% lower than last year and 53.2% above the national average. Over the last three months, new home contracts increased by 52.3% to 1,940. Vancouver and Ridgefield had the highest concentration of the new home contracts in the Portland market.