Young professionals looking for an urban vibe are moving into this low-key city, with microbreweries, gastropubs, and trendy boutiques popping up on every corner. Hot summer days create some of the most idyllic evenings anywhere in the state, where locals sit on porches in elegant Victorian-era homes, and kids scamper in leafy parks until the sun goes down in Sacramento.
Sacramento's population is 2.4M, with a total workforce of 1.0M. The labor market grew by 51,300 jobs over the past year, up by 5.2%. The median household income in Sacramento is $76,271, 6.2% lower than last year and 13.0% above the national average of $67,521.
In the housing market, total permits issued totaled 10,938 over the last twelve months, up 1.5% year-over-year. Sacramento has 190 active new home projects on the market, 1.6% more than the 187 from last year. The average list price in the market is $805,721, 29.3% higher than last year and 78.8% above the national average. Over the last three months, new home contracts decreased by 19.0% to 1,972. Roseville and Lincoln had the highest concentration of the new home contracts in the Sacramento market.
