Garrett County Real Estate and Livability Trends
Garrett County, Maryland has seen a sharp rise in average taxable income, climbing from around $46,904.39 in 2013 to roughly $70,544.29 in 2021, possibly pointing to increasing economic stability. Median home values have jumped from $165,300 in 2015 to $220,100 in 2022, a trend outpacing national averages. The hike in real estate taxes from $2,957.36 in 2012 to $4,961.73 in 2021 suggests rising... Read more
Garrett County Market Trends
Garrett County, Maryland, has experienced notable growth in its real estate market, with median home values climbing from $165,300 in 2015 to $220,100 in 2022, outpacing national trends. The rise in real estate taxes, from $2,957.36 in 2012 to $4,961.73 in 2021, suggests increasing property valuations and possibly changes in tax policies, which could impact potential buyers and investors. The... Read more
Median Value of Occupied Housing Units in Garrett County, Maryland Over the Last 8 Years
Over the past eight years, Garrett County, Maryland has seen its median home values rise from $165,300 in 2015 to $220,100 in 2022, reflecting steady growth with a sharp increase post-2019. Compared to the national median, which went from $125,500 to $179,400 in the same period, Garrett County's housing market shows a stronger incline, particularly visible in the last three years. While still below the state median, which climbed from $286,900 to $380,500, Garrett County offers a relatively more affordable option within Maryland, potentially attracting investors and homebuyers looking for value in a market that's trending upward but remains below state-level pricing.
Residential Energy Tax Credit Per Tax Return in Garrett County, MD Over the Last 8 Years
Garrett County, Maryland, has seen fluctuating but generally increasing trends in the average residential energy tax credit per tax return over the past eight years, peaking at $638.89 in 2017. This suggests intermittent investment in energy-efficient home improvements area-wide, potentially benefiting overall property valuations and offering attractive returns for environmentally-conscious investors or new residents. The substantial credit values, especially in recent years, hint at robust local and state incentives geared towards sustainable energy solutions. This could be a key factor for appraisers and insurance agents to consider when evaluating properties or policies in this region.
Average Real Estate Taxes Per Tax Return in Garrett County, MD Over the Last 10 Years
Garrett County, Maryland has seen a noticeable increase in average real estate taxes per tax return over the last decade. From $2,957.36 in 2012 to $4,961.73 in 2021, the trend reflects a growth in property valuations and possibly changes in tax policies. This increase may have implications for potential homebuyers, real estate investors, appraisers, and insurance agents, painting a picture of growing property market values. This trend might suggest a robust real estate market in Garrett County, making it an interesting area for those looking to invest or move in.
Percentage of Farm Returns in Garrett County, MD Over the Last 10 Years
Over the past decade, Garrett County, Maryland has seen slight fluctuations in the percentage of farm tax returns. Starting at roughly 4.68% in 2012 and peaking around 5.12% in 2019, the data suggest a relatively stable farming community in the region. Farm tax returns capture the financial viability and activity of the farming sector, indicating the presence of agricultural operations. This is of particular interest to investors, property developers, or those considering relocating, as a steady farm economy can imply stability and a connection to local food systems.
Number of Mortgages by Occupancy Type in Garrett County, MD Over the Last 5 Years in Garrett County
Garrett County, Maryland has experienced fluctuating numbers in mortgage counts by occupancy type over the past five years. Notably, principal residences consistently make up the bulk of mortgages, with a peak in 2021 at 1384, followed by second residences and investment properties. These changes highlight a shifting landscape that could impact investment opportunities, real estate development, and insurance assessments. Knowing whether an area is seeing more permanent residents versus vacation homes or rental properties can guide strategic decisions for those looking to invest, settle, or provide services in the area.
Economic Outlook
Garrett County, Maryland has experienced a significant rise in average taxable income per tax return, climbing from around $46,904.39 in 2013 to roughly $70,544.29 in 2021. This upward trend might indicate increasing economic stability, attracting investors and newcomers. Simultaneously, state and local income taxes have dramatically surged from $6,447.59 in 2012 to $18,463.86 in 2021, which could reflect economic shifts or tax policy changes. Additionally, the average total tax liability per... Read more
Average Taxable Income per Tax Return in Garrett County, MD over the last 9 years
Over the last nine years, Garrett County, Maryland, has seen a notable increase in average taxable income per tax return, from approximately $46,904.39 in 2013 to about $70,544.29 in 2021. This growth trend could make the area appealing for investors and newcomers seeking economic stability. For real estate and insurance professionals, understanding this upward trajectory may help in appraisals and policy decisions. As average incomes rise, the potential for higher property values and demand might also follow.
Average State and Local Income Taxes Per Tax Return in Garrett County, MD Over the Last 10 Years
Garrett County, Maryland has experienced a notable increase in average state and local income taxes per tax return over the past decade. From a relatively modest $6,447.59 in 2012, figures have gradually climbed to a striking $18,463.86 by 2021. This sharp rise may reflect broader economic shifts, increased local government spending, or changes in tax policy. For potential investors or those considering relocation, this trend is worth watching as it could impact financial planning and overall cost of living in the area.
Average Total Tax Liability Per Tax Return in Garrett County, MD Over the Last 10 Years
Over the past decade, Garrett County, Maryland has seen a notable increase in the average total tax liability per tax return, rising from approximately $6,287.39 in 2012 to $11,375.34 in 2021. This trend may reflect broader economic growth or shifts in the local economic landscape, potentially impacting future property values and living costs. Such patterns are significant for potential investors, appraisers, and real estate agents as they suggest a possibly increasing financial burden on residents and a change in the county's economic profile.
Cost of Living in Garrett County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,174 | $1,331 | $1,419 | $1,181 | $996 |
| 1 adult 4 children | $1,174 | $1,087 | $1,082 | $1,181 | $1,121 |
| 2 adults 3 children | $1,174 | $1,087 | $1,232 | $1,181 | $826 |
| 1 adult 3 children | $1,174 | $888 | $896 | $1,181 | $914 |
| 2 adults 2 children | $826 | $890 | $1,046 | $1,024 | $702 |
| 1 adult 2 children | $826 | $665 | $709 | $1,024 | $659 |
| 2 adults 1 child | $826 | $704 | $860 | $512 | $685 |
| 1 adult 1 child | $826 | $454 | $523 | $512 | $573 |
| 2 adults | $708 | $565 | $673 | $0 | $615 |
| 1 adult | $696 | $308 | $337 | $0 | $553 |
Safety trends & Data
Property crime trends in Garrett County, Maryland, have varied significantly over the last five years. Larceny-theft peaked at 140 incidents in 2019 before dropping to 42 by 2022. Burglary also showed volatility, hitting a low of 13 cases in 2019 but rising to 34 cases by 2022. Meanwhile, motor vehicle theft peaked at 11 incidents in 2020. These fluctuations could indicate varying levels of risk for investors, homeowners, and real estate... Read more
Property Crime Trends in Garrett County, MD Over the Last 5 Years
Property crime trends in Garrett County, Maryland, have varied significantly over the last five years. Larceny-theft continues to be the most prevalent crime, albeit with fluctuations from 82 incidents in 2018 peaking at 140 in 2019 and then dropping to 42 by 2022. Burglary incidents have also shown volatility, seeing a notable drop to 13 cases in 2019 but an increase to 34 cases by 2022. Other crimes like motor vehicle theft and vandalism have seen less dramatic changes, with motor vehicle theft peaking at 11 incidents in 2020. Understanding these trends is crucial for investors, homeowners, and real estate professionals as they indicate varying levels of risk and security concerns in different years.
Demographics
Garrett County, Maryland's adult population is almost evenly split between males and females, contributing to a balanced community dynamic. While a substantial portion of residents have completed high school, a notable fraction has also pursued higher education, with nearly 2,900 holding a bachelor's degree and over 2,300 achieving graduate or professional degrees. The age distribution suggests an older demographic, with a significant share of residents aged 55 and above. Racially, the county... Read more
Race Distribution in Garrett County, Maryland (2022)
Educational Attainment in Garrett County, Maryland (2022)
Age Distribution in Garrett County, Maryland
Citizen Population in Garrett County, Maryland (2022)
Political Trends & Data
Garrett County, Maryland leaned heavily Republican in the 2020 U.S. Presidential Election with around 77% of votes. Democrats managed about 21%, and minor parties like the Libertarians and Greens took roughly 1.4% and 0.4% respectively. This voting pattern might indicate a durable Republican trend that could shape future local and statewide campaign... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Garrett County, Maryland demonstrated a strong lean towards the Republican Party in the 2020 U.S. Presidential Election, with approximately 77% of votes leaning in that direction. Democrats garnered around 21%, while minor parties like the Libertarians and Greens captured much smaller fractions of the vote, roughly 1.4% and 0.4% respectively. These figures suggest a potentially longstanding Republican preference in the county that could have implications for future local and statewide electoral strategies.
76.88% of voters voted for the Republican party in the 2020 Presidential Election
21.02% of voters voted for the Democrat party in the 2020 Presidential Election
1.36% of voters voted for the Livertarian party in the 2020 Presidential Election
0.41% of voters voted for the Green party in the 2020 Presidential Election
0.33% of voters voted for the Other party in the 2020 Presidential Election
School Data
Garrett County, Maryland has seen its student-to-teacher ratio decline from roughly 14 students per teacher in the mid-2010s to just over 12 recently, signaling improved educational resources. For real estate investors, this suggests a favorable environment for families focused on education, which could positively impact housing demand and property values. Appraisers and insurance agents may view this trend as indicative of stable or improving local school quality, while property planners and... Read more
Student-to-teacher ratio in Garrett County, Maryland over the last 10 years
Over the past decade, Garrett County, Maryland has seen a decline in its student-to-teacher ratio, dropping from around 14 students per teacher in the mid-2010s to just over 12 students per teacher in recent years. This trend potentially suggests an improvement in educational attention and resources per student compared to the national average of 14 students per teacher. For potential investors or real estate agents, such a trend can indicate a more favorable environment for families prioritizing education. For appraisers and insurance agents, this could hint at a stable or improving quality of local schools, often correlating with housing demand and property values. Those involved in planning or building property might find this data valuable as it points to an attractive area for new developments targeted at families.
