Los Angeles is a trend-setting global metropolis with a fascinating history and a rich cultural heritage. LA's cultural attractions are second to none, whether it’s the Space Shuttle Endeavour, Walt Disney Concert Hall, the Getty Center or art galleries and urban art. LA dining is acclaimed for Michelin-starred restaurants and multicultural neighborhoods alike. Sports fans know that LA is the city of champions, while active Angelenos can explore 75 miles of coastline and hundreds of miles of bike and hiking trails.
Los Angeles County's population is 10.1M, with a total workforce of 4.6M. The labor market grew by 70,542 jobs over the past year, up by 1.5%. The median household income in Los Angeles County is $70,157, 0.7% higher than last year and 11.0% above the national average of $63,179.In the housing market, total permits issued totaled 22,389 over the last twelve months, down -2.3% year-over-year. Los Angeles County has 109 active new home projects on the market, 28.3% fewer than the 152 from last year. The average list price in the market is $713,235, 11.1% lower than last year and 121.9% above the national average. Over the last three months, new home contracts decreased by 15.2% to 837. Los Angeles and Santa Clarita had the highest concentration of the new home contracts in the Los Angeles County market.