Salt Lake City s population is 1.2M, with a total workforce of 754K. The labor market grew by 18,700 jobs over the past year, up by 2.5%. The median household income in Salt Lake City is $74,053, 0.4% higher than last year and 17.2% above the national average of $63,179.
In the housing market, total permits issued totaled 11,631 over the last twelve months, up 45.5% year-over-year. Salt Lake City has 146 active new home projects on the market, 21.5% fewer than the 186 from last year. The average list price in the market is $417,681, 1.9% higher than last year and 30.0% above the national average. Over the last three months, new home contracts decreased by 17.9% to 980. Herriman and South Jordan had the highest concentration of the new home contracts in the Salt Lake City market.