Economic Dashboard October 2018
How is the economy right now in Durango and La Plata County?
Find out the latest on our employment, home construction, tourism, and other key measures of our local economic performance. If you have any questions, please feel free to contact us and we can walk you through what the data means.
Local Economic Conditions
|No Change (o)||7|
|Current||Last Month||Last Year|
(vs Last Year)
|Unemployment Rate (%)||2.7||2.6||2.2||–|
|Labor Force Participation (%)||58.0||59.2||58.7||o|
|Construction & Housing|
|New Permits (to Date)||227||206||249||–|
|Value of Permits ($,000) (to Date)||119,175||103,676||148,2740||–|
|Average Home Price ($)||489,559||485,870||439,964||+|
|Earnings Needed* ($)||89,200||86,500||71,800||–|
|Travel & Tourism|
|Lodgers Tax ($)||142,586||125,226||149,761||–|
|Gas & Oil|
|New Permits (to date)||98||86||103||–|
|Sales Tax, Durango ($,000)**||1,651||1,477||1,631||o|
|Commercial Sales ($,000) (to date)||30,315||28,730||27,558||+|
|Foreclosures (to date)||47||45||49||+|
*”Earnings needed” is the household income necessary to purchase an average-priced home in La Plata County.
**Sales tax for Durango includes Use Tax.
Sources:Employment: Colorado Department of Labor and US CensusConstruction & Housing: City of Durango, La Plata County, Mortgage-X.com, and the Wells Group Travel & Tourism: City of Durango, Durango Area Tourism Organization (DATO), and Durango & Silverton Narrow Gauge Railroad Gas & Oil: Colorado Oil & Gas Conservation Commission Other: City of Durango (Sales tax and business permits), La Plata County Treasurers Office (Foreclosures), and LPEA (Energy Use) (LPEA data is unaudited)