Essex County Real Estate and Livability Trends
Essex County, Massachusetts, showcases a lucrative real estate landscape with median home values climbing from $353,100 in 2015 to $535,300 by 2022, reflecting high demand. This affluent area recorded an average taxable income per tax return of $115,542.40 in 2021, alongside rising property taxes, suggesting economic growth and investment opportunities. The county also boasts a downward trend in... Read more
Essex County Market Trends
Essex County, Massachusetts has experienced a steep rise in median home values from $353,100 in 2015 to $535,300 in 2022, outpacing state and national trends and possibly signaling high demand and a competitive market. The county's average annual residential energy tax credits fluctuated significantly, peaking at $4,505.19 in 2018, likely due to a temporary surge in energy-efficient home... Read more
Median Value of Occupied Housing Units in Essex County, Massachusetts Over the Last 8 Years
Essex County, Massachusetts shows a continual upward trend in median home values over the last eight years, jumping from $353,100 in 2015 to $535,300 in 2022. This sharp increase is striking compared to the state and national averages. While Massachusetts' median jumped to $483,900 and the U.S. average only reached $179,400 in 2022, Essex County stands out, indicating a potentially high demand and a competitive property market. This trend may pique interest for investors looking for higher returns, new residents seeking vibrant communities, or developers considering the area for future projects.
Residential Energy Tax Credit Per Tax Return in Essex County, MA Over the Last 9 Years
Over the past nine years, Essex County, Massachusetts has seen a notable fluctuation in the average residential energy tax credit per tax return. Starting at $378.79 in 2013, there's a steady increase reaching $1,196.74 in 2017. The most striking change occurs in 2018 with an extraordinary jump to $4,505.19, before stabilizing to figures around $1,252.60 in 2019 and $1,205.52 in 2021. This significant spike, especially in 2018, could indicate a temporary surge in energy-efficient home improvements or tax policy changes. These trends may be particularly relevant for investors, appraisers, and real estate agents looking to understand the economic factors influencing property values and incentives in the area.
Average Real Estate Taxes Per Tax Return in Essex County, MA Over the Last 10 Years
Over the last decade, Essex County, Massachusetts has experienced a noticeable rise in average real estate taxes per tax return. From $5,633.31 in 2012 to $8,450.70 in 2021, a trend towards higher property taxes may influence both real estate investment and homeowner expenses. This steady increase may signal the county's growing appeal and rising property values, but it also requires prospective buyers and current residents to weigh their budgets accordingly. For those in the real estate market, either as agents or investors, these shifts could impact property appraisals and the attractiveness of Essex County as a long-term investment.
Percentage of Farm Returns in Essex County, MA Over the Last 10 Years
Essex County, Massachusetts, has seen fluctuations in the percentage of farm tax returns over the past decade, peaking at approximately 0.08% in 2013 and dipping to around 0.05% in 2019. Farm tax returns represent the tax filings from farming operations, giving a sense of agricultural activity in the area. Potential investors or residents might be intrigued by these changes, as they might hint at evolving agricultural viability and land use trends in Essex County. This data could be insightful for understanding broader economic shifts and investment opportunities within the local agricultural sector.
Number of Mortgages by Occupancy Type in Essex County, MA Over the Last 5 Years in Essex County
Over the past five years, the most notable trend in Essex County, Massachusetts has been the significant fluctuations in the number of mortgages across different occupancy types. Principal residences have consistently dominated the mortgage counts but saw a decline from 2020 to 2022. Investment properties displayed an increase until a sharp drop in 2022. Second residences experienced relatively lower, yet consistent, mortgage activity. These shifts may impact investors' perspectives on market stability and potential returns, while appraisers and real estate agents need to adapt to varying demand. For insurance agents, understanding these patterns can better inform risk assessments and policy adjustments. Overall, recognizing changes in mortgage distribution can offer insights into market dynamics for anyone involved in property-related decisions in Essex County.
Economic Outlook
Essex County, Massachusetts has seen a notable rise in average taxable income per tax return, reaching $115,542.40 in 2021, suggesting economic stability and a prosperous environment for investment and property development. State and local income taxes also significantly increased, more than doubling from $7,897.16 in 2012 to $16,885.76 in 2021, potentially reflecting higher incomes or tax policy changes. Average total tax liability per tax return spiked from $14,866.65 in 2012 to $23,561.49 in... Read more
Average Taxable Income per Tax Return in Essex County, MA over the last 9 years
Essex County, Massachusetts has experienced a general upward trend in average taxable income per tax return over the past nine years, culminating in a significant jump to $115,542.40 in 2021. This growth reflects the county's potential for economic stability and a prosperous environment for investment and property development. Real estate agents, appraisers, and insurance agents might want to pay close attention to this consistent rise, as it indicates a robust economic landscape that could impact property values and insurance premiums. This data suggests a favorable outlook for those considering moving to or investing in Essex County.
Average State and Local Income Taxes Per Tax Return in Essex County, MA Over the Last 10 Years
Essex County, Massachusetts, has witnessed a significant uptick in average state and local income taxes per tax return over the last decade, with values jumping from around $7,897.16 in 2012 to roughly $16,885.76 in 2021. The most notable increases occurred between 2017 and 2021, indicating a more than doubling of tax liabilities within this period. This trend may reflect heightened incomes or changes in tax policy, which could influence decisions for potential investors, homebuyers, and current residents considering the financial implications of settling in or continuing to reside in the area.
Average Total Tax Liability Per Tax Return in Essex County, MA Over the Last 10 Years
In Essex County, Massachusetts, average total tax liability per tax return has shown a consistent uptrend over the past decade, jumping significantly from $14,866.65 in 2012 to $23,561.49 in 2021. This steep rise, especially post-2020, suggests a growing economic dynamism, potentially indicating increased incomes and property values. This may matter to investors, prospective homebuyers, and real estate professionals considering the financial commitments associated with living or investing in the area. Appraisers and insurance agents would also be keen to monitor these changes closely to accurately gauge property and risk assessments.
Cost of Living in Essex County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,293 | $1,685 | $1,673 | $2,750 | $2,387 |
| 1 adult 4 children | $2,293 | $1,376 | $1,267 | $2,750 | $2,445 |
| 2 adults 3 children | $2,293 | $1,377 | $1,458 | $2,750 | $2,133 |
| 1 adult 3 children | $2,293 | $1,124 | $1,052 | $2,750 | $2,283 |
| 2 adults 2 children | $1,884 | $1,127 | $1,243 | $2,434 | $1,750 |
| 1 adult 2 children | $1,884 | $842 | $837 | $2,434 | $1,835 |
| 2 adults 1 child | $1,884 | $891 | $1,028 | $1,409 | $1,384 |
| 1 adult 1 child | $1,884 | $575 | $621 | $1,409 | $1,385 |
| 2 adults | $1,539 | $715 | $812 | $0 | $965 |
| 1 adult | $1,393 | $390 | $406 | $0 | $816 |
Safety trends & Data
Essex County, Massachusetts, saw a significant decline in larceny-theft cases from 970.00 in 2018 to 602.00 in 2021, though they slightly rose to 773.00 in 2022. Vandalism and motor vehicle theft have remained relatively steady with minor variations, while burglaries peaked at 197.00 in 2021 before decreasing to 174.00 in 2022. Arson and embezzlement are low, with embezzlement dropping to just 4.00 cases by 2022. These fluctuating property crime trends offer valuable insights for investors,... Read more
Property Crime Trends in Essex County, MA Over the Last 5 Years
Essex County, Massachusetts, has shown fluctuating trends in property crimes over the past five years, with a notable decline in larceny-theft from 970.00 cases in 2018 to 602.00 in 2021, before slightly increasing to 773.00 in 2022. Vandalism and motor vehicle theft have remained relatively steady, with minor year-to-year variations. Burglaries peaked in 2021 at 197.00 cases but then decreased to 174.00 in 2022, indicating potential improvements in security measures or changing crime patterns. Arson and embezzlement have remained low, though embezzlement saw a significant drop to just 4.00 cases by 2022. These trends offer valuable insights for potential investors, insurance agents, real estate professionals, and current residents, highlighting a variable risk environment that could impact property values and insurance premiums.
Demographics
Essex County, Massachusetts, shows a slight female majority in its adult population. Educational attainment reveals a well-educated populace, with notable numbers holding bachelor's and graduate degrees. The age distribution indicates a balanced populace with a considerable portion in the 55 to 64 years range, suggesting potential long-term residents. The racial makeup is predominantly White, but there is a meaningful presence of Black or African American and other races, capturing some... Read more
Race Distribution in Essex County, Massachusetts (2022)
Educational Attainment in Essex County, Massachusetts (2022)
Age Distribution in Essex County, Massachusetts
Citizen Population in Essex County, Massachusetts (2022)
Political Trends & Data
In Essex County, Massachusetts, the real estate market might be influenced by its strong Democratic leaning, as indicated by the 2020 U.S. Presidential Election results where nearly 63% of the votes went to the Democratic party. The significant gap, with the Republican party receiving just over 34%, possibly suggests a population demographic that could favor progressive policies, potentially impacting housing and development trends in this region. This strong political preference could shape... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Essex County, Massachusetts saw a notable preference for the Democratic party in the 2020 U.S. Presidential Election, with nearly 63% of the vote. The Republican party trailed significantly, capturing just over 34%. Minor parties, including the Libertarians and Greens, garnered only small fractions of the vote, indicating that third-party influence might have been minimal. This trend could suggest a strong Democratic leaning in this region at that time.
34.11% of voters voted for the Republican party in the 2020 Presidential Election
62.93% of voters voted for the Democrat party in the 2020 Presidential Election
1.26% of voters voted for the Livertarian party in the 2020 Presidential Election
0.45% of voters voted for the Green party in the 2020 Presidential Election
1.25% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Essex County, Massachusetts, the student-to-teacher ratio has been trending downward steadily over the past decade, moving from around 14 in 2014 to roughly 12 in 2023. This could indicate a strengthening local educational infrastructure that might not only enhance individual student attention but could also lead to higher property values and overall community satisfaction. With smaller class sizes compared to the national average, this trend could make Essex County an attractive option for... Read more
Student-to-teacher ratio in Essex County, Massachusetts over the last 10 years
In Essex County, Massachusetts, the student-to-teacher ratio has been declining steadily over the past decade, decreasing from approximately 14 in 2014 to around 12 in 2023. This trend could potentially make Essex County's education system more attractive compared to the national average of 14 students per teacher, suggesting smaller class sizes that might lead to improved individual attention for students. For those considering investments, moving, or developing properties in the area, this might signal a strengthening local educational infrastructure, which in turn could raise property values and overall community satisfaction.
