Worcester County Real Estate and Livability Trends
Worcester County, Massachusetts, has seen median home values climb from $252,600 in 2015 to $363,200 in 2022, making it a relatively affordable alternative in the state. Rising average real estate taxes, which increased from $4,627.73 in 2012 to $7,020.02 in 2021, may signal boosting property values and demand. Additionally, decreased principal residence mortgages from 2021 to 2022 hint at... Read more
Worcester County Market Trends
Worcester County, Massachusetts, has experienced an impressive surge in median home values, climbing from $252,600 in 2015 to $363,200 in 2022, offering a more affordable option compared to the state's average. The significant volatility in residential energy tax credits, particularly the spike to $4,662.38 in 2018, suggests fluctuating homeowner investments in energy-efficient upgrades.... Read more
Median Value of Occupied Housing Units in Worcester County, Massachusetts Over the Last 8 Years
Worcester County, Massachusetts, has seen a steady rise in median home values over the past eight years, jumping from $252,600 in 2015 to $363,200 in 2022. Although this growth aligns with the broader trend in Massachusetts, where median home values spiked from $333,100 to $483,900, Worcester County offers a more affordable entry point compared to the state average. When measured against the national median, which rose from $125,500 to $179,400 in the same period, Worcester County's market appears robust but still significantly less expensive than other parts of Massachusetts. This could make it an attractive option for investors and individuals seeking reasonably priced real estate opportunities within the state.
Residential Energy Tax Credit Per Tax Return in Worcester County, MA Over the Last 9 Years
Over the last nine years, Worcester County, Massachusetts, has seen significant fluctuations in its average residential energy tax credit per tax return. After starting at $417.53 in 2013, the credit spiked to $4,662.38 in 2018 before stabilizing around $1,257.02 in 2021. This volatility suggests that local homeowners may be increasingly investing in energy-efficient improvements, which might interest real estate agents, appraisers, and potential buyers looking for properties with lower long-term energy costs. Notably, the substantial spike in 2018 warrants closer examination for underlying causes, perhaps policy changes or rebates, which could affect future trends.
Average Real Estate Taxes Per Tax Return in Worcester County, MA Over the Last 10 Years
Over the past decade, Worcester County, Massachusetts has seen a noticeable upward trend in average real estate taxes per tax return, climbing from approximately $4,627.73 in 2012 to about $7,020.02 in 2021. This sharp increase, particularly between 2017 and 2018, could signal rising property values and potentially higher demand in the area, influencing decisions for investors, potential homeowners, and real estate professionals. As property taxes impact the overall cost of owning a home, this trend is crucial for calculating long-term affordability and insurance considerations.
Percentage of Farm Returns in Worcester County, MA Over the Last 10 Years
In Worcester County, Massachusetts, the percentage of farm tax returns appears to have experienced a gradual decline over the past decade. Starting from approximately 0.23% in 2012, it dipped to around 0.20% by 2021. If you're eyeing agricultural investments or property development in Worcester County, this trend might indicate a shrinking farming community or shifts in land use. Farm tax returns, essentially filed by agricultural operations to report income and expenses, can provide insights into the economic health and viability of farming in the area. This decline could suggest fewer farms are operating, potentially freeing up land for other developments or revealing challenges the agricultural sector might be facing locally.
Number of Mortgages by Occupancy Type in Worcester County, MA Over the Last 5 Years in Worcester County
Over the last five years, there has been a noticeable shift in mortgage distributions within Worcester County, Massachusetts. Principal residence mortgages consistently dominate, but have seen a decline from 63,438 in 2021 to 37,534 in 2022. Investment property mortgages peaked in 2021, reaching 3,845 before dropping to 2,672 in 2022. Interestingly, second residence mortgages have consistently remained low, reflecting potential lifestyle or regulatory influences. These trends are essential for potential investors and real estate agents as they indicate shifting demand and investment patterns. For insurance agents and appraisers, knowing the predominant occupancy type can help assess risk and property value considerations accurately.
Economic Outlook
Worcester County, Massachusetts, has experienced a consistent increase in average taxable income per tax return, jumping from around $66,625.00 in 2013 to $92,605.67 in 2021. Alongside this, average state and local income taxes per tax return have risen significantly, reaching $11,247.85 by 2021, suggesting either rising incomes or potential tax rate changes. Additionally, average total tax liability per tax return grew from $11,262.44 in 2012 to about $16,233.39 in 2021, indicating possible... Read more
Average Taxable Income per Tax Return in Worcester County, MA over the last 9 years
Over the past nine years, Worcester County, Massachusetts, has seen a steady rise in average taxable income per tax return. Notable jumps occurred from 2013 to 2021, where the average income increased from approximately $66,625.00 to around $92,605.67. Such substantial growth could signal an improving economic environment, potentially appealing to investors, homebuyers, and real estate agents. This upward trend highlights the county's potential for increased property values and a growing affluent population, which might interest appraisers and insurance agents examining market conditions.
Average State and Local Income Taxes Per Tax Return in Worcester County, MA Over the Last 10 Years
Worcester County, Massachusetts has seen a noticeable upward trend in average state and local income taxes per tax return over the last decade. Starting at $6,421.52 in 2012, there has been a significant increase, particularly around 2018 when it jumped to $9,119.78. By 2021, this figure reached $11,247.85. This trend may signal rising incomes or tax rate changes, which could impact investment strategies, cost of living considerations, and overall financial planning for current and prospective residents or business owners.
Average Total Tax Liability Per Tax Return in Worcester County, MA Over the Last 10 Years
Worcester County, Massachusetts has seen a notable rise in the average total tax liability per tax return over the past decade. Starting from approximately $11,262.44 in 2012, it climbed steadily until it reached about $16,233.39 in 2021. This trend suggests increased financial burdens on residents, which may reflect higher incomes or changes in tax policy. Importantly, the significant jump in 2021 could indicate particular economic conditions or tax law changes that could impact decisions for investors, builders, and property developers considering the area.
Cost of Living in Worcester County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,967 | $1,653 | $1,721 | $2,578 | $2,166 |
| 1 adult 4 children | $1,967 | $1,350 | $1,303 | $2,578 | $2,290 |
| 2 adults 3 children | $1,967 | $1,350 | $1,500 | $2,578 | $1,922 |
| 1 adult 3 children | $1,967 | $1,102 | $1,082 | $2,578 | $2,056 |
| 2 adults 2 children | $1,575 | $1,105 | $1,278 | $2,255 | $1,536 |
| 1 adult 2 children | $1,575 | $826 | $861 | $2,255 | $1,579 |
| 2 adults 1 child | $1,575 | $874 | $1,057 | $1,204 | $1,199 |
| 1 adult 1 child | $1,575 | $564 | $639 | $1,204 | $1,145 |
| 2 adults | $1,219 | $702 | $836 | $0 | $848 |
| 1 adult | $1,164 | $383 | $418 | $0 | $718 |
Safety trends & Data
Worcester County, Massachusetts, has experienced a notable drop in property crime over the past five years, with larceny-theft incidents reducing drastically from 1,415 in 2018 to 631 in 2022, and burglaries declining from 219 to 161 in the same period. While vandalism and fraud incidents held steady with minor variances, the overall trend points to improved safety. This can make the area more appealing to investors, insurance agents, and residents focusing on low crime... Read more
Property Crime Trends in Worcester County, MA Over the Last 5 Years
Property crime in Worcester County, Massachusetts, has seen a noticeable decline over the past five years in several categories. Larceny-theft, a significant component of property crime, dropped substantially from 1,415 in 2018 to 631 in 2022. Burglary also decreased from 219 incidents in 2018 to 161 in 2022. Vandalism and fraud cases, however, remained relatively stable with some slight fluctuations. These trends suggest a generally improving situation for property crimes, making it a potentially more attractive location for investors, insurance agents, and residents concerned about crime rates.
Demographics
Worcester County, Massachusetts presents a nearly balanced gender distribution among adults, with a slight lean towards females. Educational attainment shows a diversified array, but a notable majority have at least a high school diploma or higher, reflecting a well-educated community. Age-wise, there is a significant portion of the population in the 55 to 64 years bracket, indicating potential upcoming retiree demographics. Racially, the area appears predominantly White, but there's a visible... Read more
Race Distribution in Worcester County, Massachusetts (2022)
Educational Attainment in Worcester County, Massachusetts (2022)
Age Distribution in Worcester County, Massachusetts
Citizen Population in Worcester County, Massachusetts (2022)
Political Trends & Data
Worcester County, Massachusetts, seems to lean Democratic based on the 2020 U.S. Presidential Election results, with Democratic candidates possibly capturing around 57% of the vote. Republican candidates might have taken about 39%, and third-party influence appears minimal, each securing less than 2%. This suggests a predominantly two-party competition, with potential implications for policy preferences and community growth trends in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Worcester County, Massachusetts, the 2020 U.S. Presidential Election results indicate that Democratic candidates might have held a lead, capturing roughly 57% of the vote. Republican candidates possibly secured around 39%, while Libertarian, Green, and other parties collectively gathered minimal support, each receiving less than 2% of the vote. This distribution suggests a predominantly two-party competition, with third-party influence appearing limited.
39.47% of voters voted for the Republican party in the 2020 Presidential Election
57.20% of voters voted for the Democrat party in the 2020 Presidential Election
1.64% of voters voted for the Livertarian party in the 2020 Presidential Election
0.58% of voters voted for the Green party in the 2020 Presidential Election
1.10% of voters voted for the Other party in the 2020 Presidential Election
School Data
Worcester County, Massachusetts has seen wild swings in its student-to-teacher ratio over the past decade, notably peaking at 43 in 2018 before stabilizing around the national average of 14 by 2021 and 13 in 2022. These shifts are crucial for real estate investors, homebuyers, appraisers, and agents who emphasize educational quality in property evaluations, as well as for insurance agents and builders assessing community stability and growth... Read more
Student-to-teacher ratio in Worcester County, Massachusetts over the last 10 years
The student-to-teacher ratio in Worcester County, Massachusetts has fluctuated significantly over the past decade. While the national average sits at around 14 students per teacher, Worcester County experienced a dramatic spike to 43 in 2018, caused perhaps by changes in funding, school policies, or population shifts. In more recent years, the ratio has stabilized closer to the national average, dropping to 13 in 2022 and 14 in 2021. These trends are relevant for investors, homebuyers, appraisers, and real estate agents who consider educational quality a key factor; likewise, insurance agents and builders might view these trends as part of a broader assessment of community stability and future growth potential.
