Dorchester County Real Estate and Livability Trends
Dorchester County, Maryland has seen a remarkable increase in average taxable income per tax return, jumping from $45,036.05 in 2013 to $63,161.06 in 2021—potentially attractive to real estate investors despite rising state and local income taxes. Home values skyrocketed to $226,000 in 2022, outpacing national trends and suggesting robust development. Real estate taxes climbed to $4,207.96 in... Read more
Dorchester County Market Trends
Home values in Dorchester County, Maryland spiked to $226,000 in 2022, reflecting faster growth rates compared to the national level, and hinting at possible investment potential driven by local development. Average residential energy tax credits have fluctuated significantly, peaking at $2355.56 in 2018 before dropping to $750.00 in 2021, which could appeal to those eyeing energy-efficient home... Read more
Median Value of Occupied Housing Units in Dorchester County, Maryland Over the Last 8 Years
Home values in Dorchester County, Maryland have seen varying levels over the past decade but culminated in a noticeable increase in 2022 to $226,000. While these figures are modest compared to Maryland’s 2022 median value of $380,500, they’ve shown a more accelerated growth compared to the national level which was $179,400. This recent surge could signal a potential investment opportunity or a rising interest in the county’s housing market, potentially driven by local development or improved amenities.
Residential Energy Tax Credit Per Tax Return in Dorchester County, MD Over the Last 9 Years
Over the past nine years, Dorchester County, Maryland has seen fluctuating average residential energy tax credits per tax return, ranging from $454.17 to $2355.56. A noticeable peak occurred in 2018 with an average of $2355.56, but this was followed by a drop to $916.00 in 2020 and $750.00 in 2021. These variations could indicate periods of increased investment in energy-efficient home improvements or changes in tax policy, making this county a potentially variable yet intriguing market for investors and real estate developers interested in energy efficiency incentives.
Average Real Estate Taxes Per Tax Return in Dorchester County, MD Over the Last 10 Years
The average real estate taxes per tax return in Dorchester County, Maryland have shown a steady increase over the past decade, rising from around $3,107.54 in 2012 to approximately $4,207.96 in 2021. Notable jumps were observed between 2017 and 2018, as well as 2018 and 2019, which could be attributed to shifts in property values or tax policies. This upward trend suggests growing property valuations and possibly changing tax assessments, which could potentially impact real estate investment decisions and the overall cost of living in the county.
Percentage of Farm Returns in Dorchester County, MD Over the Last 10 Years
The percentage of farm tax returns in Dorchester County, Maryland over the past decade has hovered around 1.8% to 2.0%. This slight variability suggests relative stability in the agricultural sector's financial reporting. Farm tax returns typically reflect the income and expenses of farm operations, providing insight into the economic health and activity within the agricultural community. For potential investors or residents, stable farm tax return percentages could imply a consistent agricultural economy, making Dorchester County an appealing option for those interested in or dependent on the farming industry.
Number of Mortgages by Occupancy Type in Dorchester County, MD Over the Last 5 Years in Dorchester County
In Dorchester County, Maryland, over the last five years, the number of mortgages for principal residences generally increased with notable peaks in 2021, indicating a stronger demand for primary homes. Investment properties and second residences showed more variability, with investment property mortgages climbing modestly but consistently, whereas second residences fluctuated, possibly reflecting economic or lifestyle changes. These shifts are crucial for investors, real estate agents, and appraisers to understand market dynamics and potential future demands. Insurance agents and property developers may also find this data pivotal in assessing risk and planning new projects in the area.
Economic Outlook
Dorchester County, Maryland has experienced consistent growth in average taxable income per tax return over the past nine years, increasing from $45,036.05 in 2013 to $63,161.06 in 2021. This uptick might suggest a promising financial environment, with potential implications for real estate investment. However, the county has also seen a steady rise in state and local income taxes, jumping from $6,254.05 in 2012 to $11,063.03 in 2021. For potential investors, this could mean higher living... Read more
Average Taxable Income per Tax Return in Dorchester County, MD over the last 9 years
Dorchester County, Maryland has seen a consistent rise in average taxable income per tax return over the past nine years, with a boost from $45,036.05 in 2013 to $63,161.06 in 2021. This indicates a growing potential for investment, with the noticeable uptick suggesting a relatively positive economic shift in the area. For anyone considering real estate opportunities, moving to the county, or needing appraisals and insurance, these trends could point to a promising financial environment, especially with substantial growth seen in the most recent years.
Average State and Local Income Taxes Per Tax Return in Dorchester County, MD Over the Last 10 Years
Over the last decade, Dorchester County, Maryland has seen a notable increase in average state and local income taxes per tax return, climbing from $6,254.05 in 2012 to $11,063.03 in 2021. This trend indicates steadily rising tax burdens for residents, which potential investors should consider when assessing the financial landscape. For those looking to move or build property, it's crucial to account for the year-over-year tax hikes as they impact overall living costs and economic planning. The data suggests a broader economic shift, potentially reflecting increased public services or changes in tax regulations.
Average Total Tax Liability Per Tax Return in Dorchester County, MD Over the Last 10 Years
Average total tax liability per tax return in Dorchester County, Maryland has shown a varied trend over the past decade, often increasing but not without yearly fluctuations. Starting approximately around $6,594.61 in 2012, the tax liability peaked significantly in 2021 to around $9,796.39. Real estate agents might find this upward trend indicative of potential growth in property values, while appraisers and insurance agents could see the data as a reflection of the county's economic fluctuations and resilience. For those looking to invest or move into the area, understanding these tax shifts could provide insights into long-term fiscal planning and regional economic health.
Cost of Living in Dorchester County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,408 | $1,355 | $1,419 | $1,137 | $1,029 |
| 1 adult 4 children | $1,408 | $1,107 | $1,082 | $1,137 | $1,154 |
| 2 adults 3 children | $1,408 | $1,107 | $1,232 | $1,137 | $853 |
| 1 adult 3 children | $1,408 | $904 | $896 | $1,137 | $953 |
| 2 adults 2 children | $991 | $906 | $1,046 | $990 | $709 |
| 1 adult 2 children | $991 | $677 | $709 | $990 | $667 |
| 2 adults 1 child | $991 | $716 | $860 | $512 | $704 |
| 1 adult 1 child | $991 | $463 | $523 | $512 | $596 |
| 2 adults | $789 | $575 | $673 | $0 | $611 |
| 1 adult | $784 | $314 | $337 | $0 | $559 |
Safety trends & Data
Property crime in Dorchester County, Maryland shows varied trends over the past four years. Larceny-theft remains the most frequent crime, peaking at 162 cases in 2019. Burglary incidents have decreased dramatically from 57 in 2018 to just 10 in 2022. Motor vehicle theft spiked to 20 cases in 2020, while vandalism dropped from 39 cases in 2018 to 4 in 2022. These fluctuations may influence investment decisions and public safety strategies in the... Read more
Property Crime Trends in Dorchester County, MD Over the Last 4 Years
Property crime in Dorchester County, Maryland has presented some notable trends over the past four years. Larceny-theft consistently shows the highest figures, peaking at 162 occurrences in 2019. Burglary incidents have been in decline from 57 in 2018 to just 10 in 2022. Motor vehicle theft saw a noticeable spike in 2020 with 20 cases. Vandalism has also seen fluctuating numbers, with a high of 39 cases in 2018 and a stark drop to 4 in 2022. These patterns may suggest a mixed environment for investors and local authorities in assessing and planning for property-related crime mitigations in the county.
Demographics
Dorchester County, Maryland, shows a notable gender imbalance with a higher population of females compared to males. Educational attainment highlights that most adults in the area have at least a high school diploma, with smaller numbers pursuing higher education degrees. The age distribution indicates a sizable elderly population, suggesting potential impacts on healthcare and social services demand. The racial makeup primarily consists of White and Black or African American individuals, with... Read more
Race Distribution in Dorchester County, Maryland (2022)
Educational Attainment in Dorchester County, Maryland (2022)
Age Distribution in Dorchester County, Maryland
Citizen Population in Dorchester County, Maryland (2022)
Political Trends & Data
In Dorchester County, Maryland, the 2020 U.S. Presidential Election results indicated a Republican preference with approximately 54.9% of the votes. Democrats gathered about 42.9%, while minor parties like the Libertarians and Greens had minimal traction, each securing just over 1% and 0.6% respectively. This tilt towards Republicans suggests that the political landscape in real estate decision-making might favor conservative viewpoints, although a significant Democratic presence could... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Dorchester County, Maryland, the 2020 U.S. Presidential Election results hinted at a Republican tilt with approximately 54.9% of the votes, while Democrats garnered around 42.9%. Minor parties like the Libertarians and Greens made barely noticeable impacts, each securing just over 1% and 0.6% of the vote respectively, with other parties combined receiving roughly 0.5%. This distribution suggests that while the county predominantly leans Republican, there's a notable segment of the population supporting Democratic candidates.
54.85% of voters voted for the Republican party in the 2020 Presidential Election
42.92% of voters voted for the Democrat party in the 2020 Presidential Election
1.09% of voters voted for the Livertarian party in the 2020 Presidential Election
0.61% of voters voted for the Green party in the 2020 Presidential Election
0.53% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the last decade, Dorchester County, Maryland, has experienced a favorable student-to-teacher ratio trend, dipping from 13.61 in 2014 to as low as 11.89 in 2021, before slightly increasing to 13.28 in 2023. With consistently lower ratios than the national average of 14 students per teacher, the area potentially offers a better learning environment. This could boost the property's appeal, as families might prioritize educational quality when considering relocation. This trend is also... Read more
Student-to-teacher ratio in Dorchester County, Maryland over the last 10 years
Over the last decade, Dorchester County, Maryland has generally seen a favorable trend in its student-to-teacher ratio, dipping from 13.61 in 2014 to as low as 11.89 in 2021 before rising again to 13.28 in 2023. With ratios consistently below the US national average of 14 students per teacher, this suggests a potentially better learning environment due to relatively smaller class sizes. Lower ratios often mean more personalized attention for students, which might appeal to families considering relocation. For investors and builders, this could signal an area with solid educational appeal, adding value to the property market. Real estate agents and insurance agents can also leverage this trend to market properties more effectively, emphasizing the county's commitment to quality education.
