Suffolk County Real Estate and Livability Trends
Suffolk County, Massachusetts has witnessed a substantial economic uptrend and soaring property values, with average taxable income nearly doubling from $80,029.47 in 2013 to $150,266.56 by 2021. Median home values also saw a significant leap from $377,100 in 2015 to $650,900 in 2022. These economic shifts, along with rising state and local income taxes and increased property taxes, signal a... Read more
Suffolk County Market Trends
Median home values in Suffolk County, Massachusetts jumped from $377,100 in 2015 to $650,900 in 2022, far outstripping state and national averages, signaling a high-demand real estate market. Residential energy tax credits shot up notably, peaking at $3,171.05 in 2018, indicating significant spurts in energy-efficient investment. Property taxes have also surged, climbing from $4,996.54 in 2012 to... Read more
Median Value of Occupied Housing Units in Suffolk County, Massachusetts Over the Last 8 Years
Median home values in Suffolk County, Massachusetts have shown a robust increase from $377,100 in 2015 to $650,900 in 2022, far outpacing both the state average of $483,900 and the national average of $179,400 for the same year. This pronounced growth highlights Suffolk County as a dynamic market, appealing for investors and potential homeowners who might see this as a lucrative investment opportunity. The data suggests that Suffolk County could be a high-demand area, and keeping an eye on emerging trends here might provide insights into shifting property values and investment potential.
Residential Energy Tax Credit Per Tax Return in Suffolk County, MA Over the Last 9 Years
In Suffolk County, Massachusetts, average residential energy tax credits per tax return have shown a general upward trend over the last nine years. From a starting point of approximately $479.79 in 2013, the credit saw notable increases with significant peaks in 2017 at about $1,086.24 and hitting an all-time high of around $3,171.05 in 2018. This volatility suggests occasional spikes in energy-efficient home investments, a detail worth noting for appraisers and real estate agents assessing property value trends. Investors and insurance agents might interpret these spikes as a sign of increasing local awareness and commitment to energy efficiency, which could influence future property desirabilities and policy structuring.
Average Real Estate Taxes Per Tax Return in Suffolk County, MA Over the Last 10 Years
Over the past decade, Suffolk County, Massachusetts has seen a consistent rise in average real estate taxes per tax return, starting from approximately $4,996.54 in 2012 and reaching around $8,812.46 by 2021. This notable uptrend may suggest increasing property values or growing municipal budgets, which could impact decisions for potential investors, homebuyers, appraisers, and real estate agents. Those moving to or living in the area might also want to account for the higher tax commitments when planning budgets or considering long-term residency.
Percentage of Farm Returns in Suffolk County, MA Over the Last 10 Years
Suffolk County, Massachusetts has seen a slight decline in the percentage of farm tax returns filed over the last decade. Starting at around 0.028% in 2012, the percentage dipped to 0.018% by 2021. Despite some fluctuation, the overall trend suggests a gradual reduction in farm-related tax filings. This suggests a diverse local economy with potentially declining small-scale farming activity. This information may be particularly relevant for those considering agricultural investments or rural development in the area, as it could signal shifting economic priorities or opportunities in sectors other than farming.
Number of Mortgages by Occupancy Type in Suffolk County, MA Over the Last 5 Years in Suffolk County
Suffolk County, Massachusetts has seen interesting trends in mortgage counts by occupancy type over the past five years. Principal Residence mortgages have consistently dominated, peaking above 37,000 in 2020. Investment Property mortgages, while lower in volume, have steadily risen until a slight dip in 2022. Second Residences remain the lowest, hovering at a few hundred annually. Understanding these shifts can help investors anticipate market demands, influence decisions for real estate development, and adjust risk assessments for appraisers and insurance agents accordingly. This context is vital for making informed decisions in the ever-fluctuating real estate landscape of Suffolk County.
Economic Outlook
Suffolk County, Massachusetts has seen average taxable income nearly double from $80,029.47 in 2013 to $150,266.56 by 2021, reflecting a robust economic uptrend, which may intrigue investors and real estate agents. State and local income taxes per tax return escalated from around $11,305 in 2012 to close to $40,700 by 2021, reflecting possible economic shifts or policy changes. Coupled with rising total tax liabilities—from approximately $16,511.56 in 2012 to about $34,440.59 by 2021—these... Read more
Average Taxable Income per Tax Return in Suffolk County, MA over the last 9 years
Suffolk County, Massachusetts has experienced a noticeable uptick in average taxable income over the past nine years. From $80,029.47 in 2013, the figure climbed gradually with some fluctuations and saw a striking increase to $150,266.56 by 2021. This growth trend might be appealing to potential investors and real estate agents, signaling possibly robust economic activity and higher earning potential in the region. However, those looking to move or build property here should consider the potential implications of rising income levels on the cost of living and property values. For appraisers and insurance agents, this consistent uptrend is vital for accurate valuation and risk assessment purposes.
Average State and Local Income Taxes Per Tax Return in Suffolk County, MA Over the Last 10 Years
Suffolk County, Massachusetts has seen an upward trend in state and local income taxes per tax return over the past decade, with figures ballooning from approximately $11,305 in 2012 to nearly $40,700 by 2021. This significant rise, especially the sharp increases post-2017, may reflect changes in local economic conditions, tax policy, or income growth. For investors, potential residents, or property developers, understanding these trends is crucial for financial planning and anticipating the overall cost of living in the area.
Average Total Tax Liability Per Tax Return in Suffolk County, MA Over the Last 10 Years
Suffolk County, Massachusetts has seen a notable increase in average total tax liability per tax return over the past decade, rising from approximately $16,511.56 in 2012 to roughly $34,440.59 by 2021. This upward trend, with significant spikes in certain years, may suggest growing incomes or changing tax policies impacting the county. Real estate investors, appraisers, and insurance agents might want to consider these trends as they could reflect increasing property values and potential tax burdens. If you're looking to build property or move to Suffolk County, this financial trend could be an important factor in your decision.
Cost of Living in Suffolk County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $3,307 | $1,806 | $1,700 | $2,703 | $2,847 |
| 1 adult 4 children | $3,307 | $1,475 | $1,287 | $2,703 | $2,834 |
| 2 adults 3 children | $3,307 | $1,475 | $1,481 | $2,703 | $2,600 |
| 1 adult 3 children | $3,307 | $1,204 | $1,068 | $2,703 | $2,646 |
| 2 adults 2 children | $2,718 | $1,208 | $1,262 | $2,399 | $2,126 |
| 1 adult 2 children | $2,718 | $902 | $850 | $2,399 | $2,229 |
| 2 adults 1 child | $2,718 | $954 | $1,044 | $1,409 | $1,778 |
| 1 adult 1 child | $2,718 | $616 | $631 | $1,409 | $1,808 |
| 2 adults | $2,267 | $767 | $825 | $0 | $1,212 |
| 1 adult | $2,088 | $418 | $413 | $0 | $1,182 |
Safety trends & Data
Property crime trends in Suffolk County, Massachusetts over the past five years reveal drastic drops in incidents like burglary and motor vehicle theft. For instance, burglary arrests fell from 381.00 in 2018 to 115.00 in 2022, while motor vehicle theft arrests decreased from 44.00 to 16.00. Larceny-theft arrests also significantly declined from 1364.00 to 320.00 in the same period. Though minor fluctuations in crimes like fraud and vandalism were noted, they remained relatively low. These... Read more
Property Crime Trends in Suffolk County, MA Over the Last 5 Years
Property crime trends in Suffolk County, Massachusetts over the past five years reveal a significant decrease in incidences like burglary and motor vehicle theft. For instance, burglary arrests dropped from 381.0 in 2018 to 115.0 in 2022, while motor vehicle theft arrests fell from 44.0 to 16.0 in the same period. Larceny-theft arrests also saw a considerable decline, moving from 1364.0 in 2018 to 320.0 in 2022. Conversely, some less common crimes such as fraud and vandalism showed minor fluctuations but generally maintained lower levels. These trends could suggest a shift in local law enforcement effectiveness or changes in community vigilance, which might be important considerations for investors, home buyers, and real estate agents assessing the area's safety and attractiveness.
Demographics
In Suffolk County, Massachusetts, there appears to be slightly more females than males among the adult population. When it comes to education, a significant portion of residents might hold a bachelor's degree or higher, suggesting a well-educated populace. Age distribution indicates a concentration in the 25 to 34-year age group, potentially pointing to a youthful and dynamic workforce. Racial diversity is another notable aspect, with a mixed racial composition, particularly a large percentage... Read more
Race Distribution in Suffolk County, Massachusetts (2022)
Educational Attainment in Suffolk County, Massachusetts (2022)
Age Distribution in Suffolk County, Massachusetts
Citizen Population in Suffolk County, Massachusetts (2022)
Political Trends & Data
Suffolk County, Massachusetts displayed a strong Democratic preference in the 2020 U.S. Presidential Election, with Democrats securing about 80% of the vote. This considerable Democratic lean suggests the county's progressive orientation, which may shape local and state policies and impact future real estate trends, possibly promoting developments aligned with liberal agendas such as affordable housing, green building initiatives, and community-focused urban... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Suffolk County, Massachusetts leaned heavily Democratic in the 2020 U.S. Presidential Election, with Democrats capturing roughly 80% of the vote. Republicans garnered around 17%, with Libertarians, Green Party, and other candidates collectively accounting for just under 3%. This suggests the county traditionally favors more progressive policies, potentially influencing local and state elections similarly.
17.38% of voters voted for the Republican party in the 2020 Presidential Election
80.22% of voters voted for the Democrat party in the 2020 Presidential Election
0.88% of voters voted for the Livertarian party in the 2020 Presidential Election
0.50% of voters voted for the Green party in the 2020 Presidential Election
1.02% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Suffolk County, Massachusetts has seen its student-to-teacher ratio drop from 13 in 2014 to around 11 students per teacher in 2023. This shift towards smaller class sizes could suggest an improvement in educational quality, potentially making Suffolk County more attractive to families. With the national average at 14 students per teacher, Suffolk's trend may signal a greater focus on individualized attention in schools, which investors, homebuyers, and real estate agents... Read more
Student-to-teacher ratio in Suffolk County, Massachusetts over the last 10 years
Over the past decade, Suffolk County, Massachusetts has seen a notable decline in its student-to-teacher ratio, dropping from 13 in 2014 to around 11 students per teacher in 2023. This shift towards smaller class sizes could suggest an improvement in educational quality, potentially making Suffolk County more attractive to families. With the national average at 14 students per teacher, Suffolk's trend may signal a greater focus on individualized attention in schools, which investors, homebuyers, and real estate agents might find appealing for fostering community development and boosting property values.
