Caroline County Real Estate and Livability Trends
Caroline County, Maryland, has seen a substantial rise in average taxable income, climbing from about $44,730.70 in 2013 to roughly $61,260.04 in 2021, signaling potential growth in property values and economic strength. Median home values jumped from $193,300 in 2015 to $258,800 in 2022, hinting at attractive investment opportunities while staying below Maryland’s median of $380,500. Real... Read more
Caroline County Market Trends
Caroline County, Maryland has seen a remarkable uptick in median home values from $193,300 in 2015 to $258,800 in 2022, outpacing national growth yet remaining below the state's median of $380,500. Such growth highlights potential for investment and affordability compared to Maryland’s broader market. Alongside, residential energy tax credits have fluctuated significantly, peaking at $3,000.00... Read more
Median Value of Occupied Housing Units in Caroline County, Maryland Over the Last 8 Years
Caroline County, Maryland, has seen a noticeable uptick in median home values over the past eight years, surging from $193,300 in 2015 to $258,800 in 2022. This local rise has notably outpaced national trends, where median values increased from $125,500 to $179,400 over the same period. However, it still remains below the state median, which reached $380,500 in 2022. This disparity could suggest more affordable investment opportunities in Caroline County compared to the broader Maryland market. Such robust growth may attract those looking to capitalize on property appreciation or settle in a steadily rising market.
Residential Energy Tax Credit Per Tax Return in Caroline County, MD Over the Last 9 Years
Over the past nine years, Caroline County, Maryland has seen notable fluctuations in the average residential energy tax credit per tax return. From $428.13 in 2013, the average tax credit jumped significantly, peaking at $3,000.00 in 2018. While recent years have seen a decrease from this high, levels remain elevated compared to the earlier part of the decade, with the average credit around $1,242.31 in 2021. This trend suggests growing investments in energy-efficient home improvements, which could be appealing to those looking to invest or move into the area, as well as to professionals involved in property appraisals, real estate, and insurance.
Average Real Estate Taxes Per Tax Return in Caroline County, MD Over the Last 10 Years
Over the past decade, Caroline County, Maryland has seen a noticeable increase in real estate taxes per tax return. In 2012, residents were paying an average of $2,651.68, but by 2021, this figure had risen to approximately $3,607.25. A significant jump occurred between 2017 and 2018 when average taxes leaped from $2,821.18 to $3,320.61, highlighting a potential shift in the county's fiscal policy or property valuations. This upward trend could indicate a strengthening local economy, which might be appealing to investors and real estate agents, although it may also prompt current and prospective homeowners to budget for higher annual property tax expenditures.
Percentage of Farm Returns in Caroline County, MD Over the Last 10 Years
In Caroline County, Maryland, the percentage of farm tax returns has shown a slightly downward trend over the past decade. Starting from approximately 3.32% in 2012, it saw a minor increase to about 3.44% in 2015, but eventually dipped to 2.71% by 2021. Farm tax returns often reflect the economic health and level of agricultural activity in the county. Investors, potential residents, and builders should note this trend as it may hint at changes in local agriculture's viability and its contribution to the county's overall economy.
Number of Mortgages by Occupancy Type in Caroline County, MD Over the Last 5 Years in Caroline County
The mortgage data for Caroline County, Maryland, over the last five years indicates a dominant trend toward principal residences, with numbers often exceeding 1,400 per year and peaking at 2,589 in 2021. In contrast, investment properties and second residences hold relatively minor shares, rarely surpassing 80 mortgages annually combined. This distribution implies a primarily owner-occupied market, potentially stabilizing local housing values and suggesting lower volatility compared to markets with higher investment property activity. For investors, this may denote fewer rental opportunities but potentially steadier appreciation. Appraisers and insurance agents might also find it relevant, as the prevalence of principal residences can indicate lower risks and more consistent property valuations.
Economic Outlook
Caroline County, Maryland, has experienced a significant rise in average taxable income, climbing from about $44,730.70 in 2013 to roughly $61,260.04 in 2021. This economic growth may signal increasing property values and a stronger local economy, appealing to investors and homebuyers. Concurrently, average state and local income taxes per tax return have surged nearly 55% between 2012 and 2021, alongside a marked 14% increase between 2017 and 2018. These tax dynamics, combined with a rising... Read more
Average Taxable Income per Tax Return in Caroline County, MD over the last 9 years
Caroline County, Maryland has seen a consistent and noteworthy rise in average taxable income per tax return over the past nine years, increasing from about $44,730.70 in 2013 to approximately $61,260.04 in 2021. This upward trend suggests potential economic growth, making it an attractive prospect for investors, homebuyers, and real estate agents. Such income growth could indicate a stronger local economy, which may lead to higher property values and a better quality of life for residents. This data is essential for appraisers and insurance agents adjusting valuations and premiums.
Average State and Local Income Taxes Per Tax Return in Caroline County, MD Over the Last 10 Years
Over the last ten years, Caroline County, Maryland, has seen a notable upward trend in the average state and local income taxes per tax return, rising from $5,430.30 in 2012 to $8,434.72 in 2021. This nearly 55% increase could reflect broader economic changes, shifts in local taxation policies, or changes in the average income levels within the county. For those considering investing, moving to, or building property in Caroline County, this persistent rise in income taxes might be a crucial factor to consider when evaluating financial plans and the overall fiscal environment. The most significant jump occurred between 2017 and 2018, which saw taxes surge by approximately 14%, indicating a period of pronounced economic adjustment or policy change. This information is particularly relevant for individuals or entities looking to understand the local financial landscape and its implications for long-term commitments.
Average Total Tax Liability Per Tax Return in Caroline County, MD Over the Last 10 Years
Over the past decade, Caroline County, Maryland has seen a noticeable upward trajectory in average total tax liability per tax return. In 2012, the average was around $5,912.37, steadily increasing each year with a few fluctuations. By 2021, it reached approximately $8,184.98, indicating a significant growth. This trend may suggest rising incomes or property values that could be appealing to real estate investors, potential homeowners, appraisers, and insurance agents looking to understand the area's financial landscape.
Cost of Living in Caroline County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,426 | $1,363 | $1,419 | $1,137 | $1,081 |
| 1 adult 4 children | $1,426 | $1,113 | $1,082 | $1,137 | $1,219 |
| 2 adults 3 children | $1,426 | $1,114 | $1,232 | $1,137 | $898 |
| 1 adult 3 children | $1,426 | $909 | $896 | $1,137 | $1,018 |
| 2 adults 2 children | $1,052 | $912 | $1,046 | $990 | $764 |
| 1 adult 2 children | $1,052 | $681 | $709 | $990 | $742 |
| 2 adults 1 child | $1,052 | $721 | $860 | $512 | $757 |
| 1 adult 1 child | $1,052 | $465 | $523 | $512 | $650 |
| 2 adults | $800 | $579 | $673 | $0 | $643 |
| 1 adult | $794 | $316 | $337 | $0 | $592 |
Safety trends & Data
Caroline County, Maryland has experienced fluctuating property crime rates over the past few years. Larceny-theft incidents dropped from 132 in 2019 to 51 in 2022, while burglary rates peaked at 63 in 2019 before dropping significantly. Vandalism cases decreased from 40 in 2018 to 3 in 2021, then climbed to 19 in 2022. These shifts may influence local property values and impact decisions made by residents, investors, and stakeholders in the real estate... Read more
Property Crime Trends in Caroline County, MD Over the Last 5 Years
Caroline County, Maryland has seen fluctuating property crime rates over the last five years. While larceny-theft continues to be the most prevalent crime, its numbers have dropped from 132 incidents in 2019 to 51 in 2022. However, burglary rates have shown an inconsistent trend, peaking at 63 incidents in 2019 and dropping significantly in subsequent years. There has also been a notable reduction in vandalism cases starting from 40 in 2018 to just 3 in 2021, then climbing back to 19 in 2022. These trends may signal shifting crime patterns, impacting local property values and influencing the decision-making of potential residents, investors, and stakeholders in the real estate market.
Demographics
Caroline County, Maryland, has a nearly balanced gender ratio with slightly more females than males. When it comes to education, a significant portion of the population achieved high school diplomas or pursued some college but did not complete a degree, which could suggest areas where educational support might be beneficial. The age distribution highlights a larger number of residents between 55 and 64 years, pointing towards an aging population. Racially, the county is predominantly White with... Read more
Race Distribution in Caroline County, Maryland (2022)
Educational Attainment in Caroline County, Maryland (2022)
Age Distribution in Caroline County, Maryland
Citizen Population in Caroline County, Maryland (2022)
Political Trends & Data
Caroline County in Maryland likely leaned Republican in the 2020 U.S. Presidential Election, with an estimated 65% of votes going to GOP candidates. Democrats might have captured about 32%, pointing to a notable but smaller support base. Minor parties such as the Libertarian and Green parties, along with other candidates, possibly accumulated around 2.5% of the vote, suggesting a limited yet existent interest in alternative political voices. This distribution might indicate entrenched partisan... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Caroline County in Maryland tended to favor Republican candidates in the 2020 U.S. Presidential Election, with an estimated 65% of the votes possibly going to the GOP. Democrats might have secured about 32%, reflecting a significant but smaller base of support. Minor parties like the Libertarian and Green parties, as well as other candidates, could have collectively gathered around 2.5% of the vote, which could indicate a limited but present appetite for alternative political voices. This distribution may hint at entrenched partisan preferences but also at least some openness to third-party perspectives.
65.11% of voters voted for the Republican party in the 2020 Presidential Election
32.26% of voters voted for the Democrat party in the 2020 Presidential Election
1.45% of voters voted for the Livertarian party in the 2020 Presidential Election
0.57% of voters voted for the Green party in the 2020 Presidential Election
0.61% of voters voted for the Other party in the 2020 Presidential Election
School Data
Caroline County, Maryland's student-to-teacher ratio has declined from 14 in 2014 to about 12 in 2023, dipping to 11.75 in 2022. This improvement outperforms the national average of 14, suggesting the county offers smaller class sizes which could be attractive to families and investors focusing on family-friendly communities. Real estate professionals and appraisers might find this valuable for property evaluations, while insurance agents could consider the favorable educational environment... Read more
Student-to-teacher ratio in Caroline County, Maryland over the last 10 years
Caroline County, Maryland's student-to-teacher ratio has shown notable changes over the past decade, with a general decline from 14 students per teacher in 2014 to approximately 12 by 2023, even dropping to 11.75 in 2022. This compares favorably with the national average of 14 students per teacher, suggesting smaller class sizes that might appeal to prospective home-buyers with school-aged children, as well as investors targeting family-oriented communities. Real estate agents, builders, and appraisers may find this trend relevant to property valuations and market appeal, while insurance agents may consider the educational environment as part of their risk assessments for clients.
