Maryland Real Estate and Livability Trends
Maryland's real estate market reflects a complex interplay of higher taxable incomes and rising tax liabilities, possibly driving property value appreciation while also tightening financial conditions. Median home values leapt from $286,900 in 2015 to $380,500 in 2022, outpacing national trends and signaling a competitive market. Real estate taxes also climbed from $4,147.98 in 2012 to $5,754.48... Read more
Maryland Market Trends
Maryland's median home values have generally been on the rise, surging from $286,900 in 2015 to $380,500 in 2022, driven by increasing demand and limited housing supply. Maryland's housing market appears considerably more competitive and lucrative compared to the national median, which climbed from $125,500 to $179,400 over the same period. The average residential energy tax credit per tax return... Read more
Median Value of Occupied Housing Units in Maryland Over the Last 8 Years
Maryland's median home values have generally been on the rise, surging from $286,900 in 2015 to $380,500 in 2022, driven by increasing demand and limited housing supply. When compared to the national median, which climbed from $125,500 to $179,400 in the same period, Maryland's housing market appears considerably more competitive and lucrative. This trend could suggest that investing in Maryland might yield higher returns, and those looking to move or build property in the state might need to budget more than the national average to secure a home.
Active Loans in Foreclosure/Bankruptcy/Deed in Lieu in Maryland over the last 10 years
Active Loans 30-60 Days Past Due in Maryland over the last 10 years in Maryland
Perent of loans that are Active Loans 90-180 Days Past Due in Maryland over the last 10 years in Maryland
Residential Energy Tax Credit Per Tax Return in Maryland Over the Last 9 Years
The average residential energy tax credit per tax return in Maryland has shown marked volatility over the past nine years. Notably, there was a significant spike in 2018, where the average credit surged to $2,969.64 from $1,095.89 in 2017, before leveling out to around $1,369.45 in 2021. This fluctuating trend might indicate varying adoption rates of energy-efficient upgrades or changes in state tax policies. For potential investors or property developers, such insights could signal the importance of staying updated on energy-related incentives, which might affect both the attractiveness and long-term cost efficiency of real estate investments.
Average Real Estate Taxes Per Tax Return in Maryland Over the Last 10 Years
The real estate taxes per tax return in Maryland have roughly increased from $4,147.98 in 2012 to $5,754.48 in 2021. The upward trend suggests a steady rise each year, particularly notable jumps in 2018 and 2019, which could reflect property value increases or policy changes. For investors, moving to Maryland, appraisers, insurance agents, and real estate agents, understanding these tax trends is crucial for anticipating costs and adjusting financial plans accordingly.
Percentage of Farm Returns in Maryland Over the Last 10 Years
Maryland farm tax returns have shown a small but persistent decline over the past decade, dropping from roughly 0.41% in 2012 to about 0.35% in 2021. This trend might suggest a gradual decrease in farm-related economic activity or a shift in the agricultural landscape. For potential investors, this data could indicate changing dynamics in rural economics which may impact land value and agricultural investment opportunities. Understanding these subtle shifts can be crucial when considering property development, investments, or relocation decisions in Maryland’s farming regions.
Economic Outlook
Maryland's real estate market might be influenced by increasing average taxable income per tax return, which rose from about $70,428.95 in 2013 to approximately $99,321.11 in 2021. This upward trend could suggest a favorable environment for property value appreciation and higher market demand. However, average state and local income taxes have also increased, from around $8,760.07 in 2012 to approximately $14,891.82 in 2021, possibly indicating tightening financial conditions. Additionally,... Read more
Average Taxable Income per Tax Return in Maryland over the last 9 years
Over the last nine years, Maryland has seen a consistent increase in average taxable income per tax return, starting from about $70,428.95 in 2013 to approximately $99,321.11 in 2021. This growth trend may suggest a favorable economic environment for investors and real estate professionals, with higher incomes possibly translating to increased market demand and property value appreciation. Insurance agents and appraisers might also find this data useful for adjusting their evaluations and policies. For those considering relocating to or building in Maryland, the upward trajectory in incomes could signal promising opportunities and a potentially booming local economy.
Average State and Local Income Taxes Per Tax Return in Maryland Over the Last 10 Years
Over the past decade, Maryland has seen a consistent increase in average state and local income taxes per tax return, rising from around $8,760.07 in 2012 to approximately $14,891.82 in 2021. This trend may hint at growing revenue demands or potentially rising incomes, affecting those considering moving to or investing in the state. The sharp increases, especially between 2017 and 2021, suggest a notable shift that could impact long-term financial planning for residents and businesses alike.
Average Total Tax Liability Per Tax Return in Maryland Over the Last 10 Years
Over the past decade, average total tax liabilities per tax return in Maryland have shown a general upward trend, rising from $12,585.24 in 2012 to an estimated $18,227.20 in 2021. Notable increases occurred from 2016 onward, suggesting that tax burdens may have grown more significantly in recent years. This could impact potential investors, homeowners, and real estate professionals considering the financial climate in Maryland.
Cost of Living in Maryland
Safety trends & Data
Maryland's property crime trends over the last five years reveal significant fluctuations. Fraud incidents peaked at 15,447.00 in 2019 but fell sharply to 5,925.00 by 2022. Larceny-theft hit 3,784.00 in 2018, then dropped to 844.00 in 2021, with a slight uptick in 2022. Arson saw a decrease from 1,969.00 incidents in 2018 to 600.00 in 2021 before rising to 898.00 in 2022. These evolving crime statistics may impact property valuations, insurance rates, and overall investment appeal in... Read more
Property Crime Trends in Maryland Over the Last 5 Years
Property crime trends in Maryland have shown significant fluctuations over the last five years. Fraud consistently led the charts, peaking at 15,447.00 incidents in 2019 but notably declining to 5,925.00 in 2022. Larceny-theft saw a high of 3,784.00 in 2018, dropping to 844.00 by 2021, with a slight recovery in 2022. Arson incidents decreased from 1,969.00 in 2018 to 600.00 in 2021 before slightly rising to 898.00 in 2022. Categories like embezzlement, burglary, and motor vehicle theft generally trended downwards. This evolving landscape will likely influence property valuations, insurance rates, and overall investment appeal in the state.
Demographics
Maryland's adult population in 2022 showed a slightly higher number of females compared to males. With regard to educational attainment, nearly half of adults have completed at least some college education, showcasing a well-educated populace. The age distribution indicates a balanced population across various age groups, with the largest segments being those aged 25 to 34 years and 55 to 64 years, suggesting a mixed generational workforce. Racially, the state appears predominantly White, with... Read more
Race Distribution in Maryland (2022)
Educational Attainment in Maryland (2022)
Age Distribution in Maryland
Citizen Population in Maryland (2022)
Political Trends & Data
Maryland's 2020 presidential election results seemed to lean heavily towards the Democratic Party, with roughly 13.10% of the votes, compared to about 6.40% for the Republican Party. Minor parties like the Libertarians and Greens captured negligible portions of the vote, potentially indicating limited influence in this region. The state may be seen as a stronghold for the Democrats, given their significantly higher percentage in the vote compared to other... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Maryland's 2020 presidential election results seemed to lean heavily towards the Democratic Party, with roughly 13.1% of the votes, compared to about 6.4% for the Republican Party. Minor parties like the Libertarians and Greens captured negligible portions of the vote, potentially indicating limited influence in this region. The state may be seen as a stronghold for the Democrats, given their significantly higher percentage in the vote compared to other parties.
6.43% of voters voted for the Republican party in the 2020 Presidential Election
13.07% of voters voted for the Democrat party in the 2020 Presidential Election
0.22% of voters voted for the Libertarian party in the 2020 Presidential Election
0.10% of voters voted for the Green party in the 2020 Presidential Election
0.17% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Maryland, the student-to-teacher ratio has seen a modest decline over the past few years, dipping to about 13 students per teacher by 2021 and slightly increasing to 13.41 in 2023. This trend, while aligning closely with national averages, could point to improved student engagement and better resources, signaling a potentially higher quality of education. For real estate agents and investors, this can be a compelling selling point for families, whereas appraisers and insurance agents might... Read more
Student-to-teacher ratio in Maryland over the last 10 years
In Maryland, the student-to-teacher ratio has varied mildly over the past decade, mostly hovering around 14 students per teacher, except for a notable dip starting in 2019, dropping to 13 by 2021, and marginally rising again to 13.41 in 2023. Although these numbers closely align with the national average, the recent decrease might suggest improved student engagement and attention or possibly reflect shifts in school funding and staffing levels. For investors, real estate agents, and potential movers, lower ratios could enhance the appeal of Maryland's educational system, signaling a potentially higher quality of education and a desirable feature for families. For appraisers and insurance agents, such trends could influence property valuations and insurance policies within the region.