Carroll County Real Estate and Livability Trends
Carroll County, Maryland showcases growing economic stability with average taxable incomes rising from $72,468.66 in 2013 to $98,572.47 by 2021, hinting at possibly increasing property values and investor interest. Median home values surged from $321,300 in 2015 to $390,200 in 2022, outpacing state and national rates, marking it as a potentially profitable market. Declining property crime rates,... Read more
Carroll County Market Trends
In Carroll County, Maryland, the median home value has increased significantly from $321,300 in 2015 to $390,200 in 2022, surpassing both state and national growth rates, making it a potentially lucrative market for investors and homebuyers. Average residential energy tax credits saw dramatic fluctuations, peaking at $3,903.13 in 2018 before settling around $1,074.70 by 2021, indicating... Read more
Median Value of Occupied Housing Units in Carroll County, Maryland Over the Last 8 Years
In Carroll County, Maryland, the median home value has seen steady growth over the past eight years, climbing from $321,300 in 2015 to $390,200 in 2022. This increase outpaces Maryland’s state-wide growth, where median values rose from $286,900 to $380,500 in the same period. Nationally, the median value grew from $125,500 to $179,400. These trends suggest that Carroll County may present a compelling opportunity for investors and homebuyers seeking markets with robust appreciation.
Residential Energy Tax Credit Per Tax Return in Carroll County, MD Over the Last 9 Years
Over the last nine years, Carroll County, Maryland has experienced notable fluctuations in average residential energy tax credits per tax return. Starting modestly at about $505.14 in 2013, the amount spiked dramatically to approximately $3,903.13 in 2018 before stabilizing around $1,074.70 by 2021. These shifts suggest variable investment levels in energy-efficient home upgrades, presenting both opportunities and risks for homeowners, appraisers, and real estate agents evaluating property values and energy-related incentives. The data highlights the importance of staying informed about energy tax credits for potential financial planning and property investment strategies.
Average Real Estate Taxes Per Tax Return in Carroll County, MD Over the Last 10 Years
Over the past decade, Carroll County, Maryland has seen a notable increase in average real estate taxes per tax return, climbing from $3,850.82 in 2012 to $4,893.23 in 2021. This upward trend could be indicative of rising property values or increasing tax rates, which might interest investors and real estate agents looking for growth opportunities. Appraisers and insurance agents may also find this data useful for reassessing property values and risk assessments. Prospective buyers and current residents might see these tax trends as a critical factor in their homeownership costs, impacting decisions to move to or remain in the area.
Percentage of Farm Returns in Carroll County, MD Over the Last 10 Years
In Carroll County, Maryland, the percentage of farm tax returns has been gradually declining over the last decade. In 2012, the percentage stood at its highest at approximately 1.21%, and by 2021, it reduced to around 1.08%. This trend could potentially indicate a shift in the local economy or farming industry, which might interest investors, property developers, or new residents assessing the area's agricultural viability. Farm tax returns reflect the portion of tax filings from farm income, providing insight into the economic health and sustainability of farming in the region.
Number of Mortgages by Occupancy Type in Carroll County, MD Over the Last 5 Years in Carroll County
Carroll County, Maryland, has seen notable shifts in the types of mortgages over the last five years, with a strong emphasis on principal residences, peaking in 2020 with 18,088 mortgages. Investment properties and second residences have remained relatively consistent but minimal compared to principal residences. This trend hints at the county's robust appeal to primary homeowners, which could indicate a stable and possibly growing residential sector attractive for investors. Shifts in occupancy type matter because they can influence local market dynamics, insurance risks, and appraisal values, impacting decisions for those looking to buy, sell, or insure property in the area.
Economic Outlook
Carroll County, Maryland has seen a consistent rise in average taxable income per tax return, with figures moving from around $72,468.66 in 2013 to approximately $98,572.47 by 2021. This suggests growing economic stability, potentially increasing property values and interest from investors. Parallelly, average state and local income taxes have climbed from $8,046.32 in 2012 to $12,801.49 in 2021, highlighting either rising incomes or tax rates. Of note is the rise in total tax liability per tax... Read more
Average Taxable Income per Tax Return in Carroll County, MD over the last 9 years
Over the last nine years, Carroll County, Maryland has seen a steady increase in the average taxable income per tax return, climbing from around $72,468.66 in 2013 to approximately $98,572.47 in 2021. This upward trend suggests growing economic stability and prosperity in the area, potentially making it an attractive destination for investors and new residents. The rising incomes could also impact property valuations, insurance assessments, and real estate market dynamics, reflecting a thriving community.
Average State and Local Income Taxes Per Tax Return in Carroll County, MD Over the Last 10 Years
Over the past decade, there appears to be a steady increase in the average state and local income taxes per tax return in Carroll County, Maryland. Starting at $8,046.32 in 2012, this figure has risen consistently, reaching $12,801.49 by 2021. This trend might imply rising incomes or tax rates in the region, potentially signaling a prosperous local economy. Given the steady rise, investors and prospective homeowners could see this as indicative of a robust financial environment, although it also means higher tax liabilities.
Average Total Tax Liability Per Tax Return in Carroll County, MD Over the Last 10 Years
Carroll County, Maryland has seen a notable rise in the average total tax liability per tax return over the past decade. Starting at approximately $10,894.35 in 2012, there has been a consistent upward trend, peaking at around $16,085.59 in 2021. This increase, especially the sharp spike in recent years, could be indicative of rising incomes or property values in the area. For potential investors, real estate agents, or those considering relocation, this trend may suggest a growing economic base but could also imply increasing tax burdens. Appraisers and insurance agents might also find this data relevant when assessing property values and risks.
Cost of Living in Carroll County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,762 | $1,593 | $1,404 | $1,969 | $1,721 |
| 1 adult 4 children | $1,762 | $1,301 | $1,069 | $1,969 | $1,888 |
| 2 adults 3 children | $1,762 | $1,301 | $1,220 | $1,969 | $1,485 |
| 1 adult 3 children | $1,762 | $1,062 | $886 | $1,969 | $1,679 |
| 2 adults 2 children | $1,358 | $1,065 | $1,036 | $1,722 | $1,180 |
| 1 adult 2 children | $1,358 | $796 | $702 | $1,722 | $1,251 |
| 2 adults 1 child | $1,358 | $842 | $853 | $920 | $1,019 |
| 1 adult 1 child | $1,358 | $544 | $518 | $920 | $947 |
| 2 adults | $1,100 | $676 | $669 | $0 | $797 |
| 1 adult | $949 | $369 | $334 | $0 | $666 |
Safety trends & Data
Carroll County, Maryland's real estate market could be positively influenced by the declining property crime rates, especially considering larceny-theft incidents dropping from 272 in 2018 to just 2 in 2022. With burglary also plummeting from 62 to 2 within the same period, the area is likely becoming more attractive to investors and new residents. However, an increase in fraudulent activity between 2018 and 2019 hints that vigilance is still necessary. Lower crime-related risks may encourage... Read more
Property Crime Trends in Carroll County, MD Over the Last 4 Years
Carroll County, Maryland has seen a gradual decline in property crime over the last four years, particularly in high-frequency crimes like larceny-theft, which went from 272 incidents in 2018 to just 2 in 2022. Burglary incidents also dropped significantly from 62 in 2018 to 2 in 2022. However, the frequency of fraudulent activity saw an increase from 8 in 2018 to 19 in 2019. Conversely, motor vehicle thefts and vandalism cases have consistently decreased. This trend might signal a safer environment potentially attracting investors, new residents, and developers due to lower crime-related risks.
Demographics
In Carroll County, Maryland, the adult population is almost evenly split between males and females. Educational attainment reveals that a significant portion of the population has a high school diploma or higher, with a noticeable number of residents holding bachelor’s and graduate degrees. Age-wise, the county has a balanced mix, though there might be a higher concentration of residents in the 35 to 64 age range. Racially, the county is predominantly white, with smaller representations of... Read more
Race Distribution in Carroll County, Maryland (2022)
Educational Attainment in Carroll County, Maryland (2022)
Age Distribution in Carroll County, Maryland
Citizen Population in Carroll County, Maryland (2022)
Political Trends & Data
Carroll County, Maryland, showed a strong Republican preference in the 2020 U.S. Presidential Election, with about 60% of the vote going to Republican candidates, while Democrats received close to 36%. Minor party candidates had limited impact, underscoring a primarily two-party dynamic. This political landscape could provide insights into the community's priorities and values, potentially influencing local policy and investment... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Carroll County, Maryland, exhibited a predominantly Republican tilt in the 2020 U.S. Presidential Election with around 60% of the vote going to Republican candidates. Democrats garnered approximately 36% of the vote, suggesting a notable but clearly secondary support base. Minor party candidates, including Libertarians and Greens, collectively drew minimal voter share, indicating a relatively low influence on the county’s overall electoral landscape. This distribution of votes may reflect the political leanings and priorities of Carroll County’s population.
60.02% of voters voted for the Republican party in the 2020 Presidential Election
36.34% of voters voted for the Democrat party in the 2020 Presidential Election
2.02% of voters voted for the Livertarian party in the 2020 Presidential Election
0.54% of voters voted for the Green party in the 2020 Presidential Election
1.08% of voters voted for the Other party in the 2020 Presidential Election
School Data
Carroll County, Maryland boasts student-to-teacher ratios consistently below the national average, ranging from 13.3 to 14.2 over the last decade. This could be appealing for families and investors, suggesting stable class sizes and potentially driving higher housing demand due to perceptions of better education quality. Real estate professionals might find this trend indicative of a community supportive of education, potentially influencing housing market stability and... Read more
Student-to-teacher ratio in Carroll County, Maryland over the last 10 years
Carroll County, Maryland has consistently maintained student-to-teacher ratios below the national average of 14 over the past decade, with values ranging from around 13.3 to 14.2. This relatively lower ratio could indicate smaller class sizes, which may be attractive to families considering relocating to the area or investors eyeing the local education market. For real estate agents, appraisers, and insurance agents, these figures might suggest stability and a potentially higher demand for housing in a community perceived as supporting better education through manageable class sizes.
