Harford County Real Estate and Livability Trends
Harford County, Maryland's real estate market is seeing rising median home values, jumping from $278,500 in 2015 to $351,100 in 2022, though still trailing the state's average of $380,500. Real estate taxes have climbed nearly $800.00 over the past decade, now averaging $4,360.57 annually, reflective of increasing property values and possibly infrastructure investments. Notably, mortgage trends... Read more
Harford County Market Trends
Harford County, Maryland's median home values have risen from $278,500 in 2015 to $351,100 in 2022, though growth lags behind the statewide increase to $380,500. Energy tax credits saw a spike in 2018 at $3433.87, suggesting rising interest in energy efficiency, with recent credits stabilizing above $1300.00. Real estate taxes have steadily risen by almost $800.00 over the past decade, now... Read more
Median Value of Occupied Housing Units in Harford County, Maryland Over the Last 8 Years
Harford County, Maryland, has seen a solid upswing in median home values over the last eight years, going from $278,500 in 2015 to $351,100 in 2022. While this growth is impressive, it trails behind the statewide increase, where median values jumped from $286,900 to $380,500 in the same period. Nationally, the rise in home values has been more gradual, moving from $125,500 to $179,400. These trends could signal a relatively stable but slightly less aggressive property market in Harford County compared to other parts of Maryland, presenting potential opportunities for both investors and those looking to relocate.
Residential Energy Tax Credit Per Tax Return in Harford County, MD Over the Last 9 Years
Harford County, Maryland has seen some interesting fluctuations in the average residential energy tax credit per tax return over the past nine years. Notably, there was a substantial increase in 2018 where the credit peaked at $3433.87, possibly indicating an unusual surge in energy-saving investments that year. While there was a correction in subsequent years, the overall trend suggests an increasing interest in energy efficiency, with recent credits stabilizing above $1300.00. This dynamic could appeal to prospective homebuyers and investors looking for properties with energy-efficient improvements, as well as real estate agents and appraisers keen on highlighting potential tax benefits to clients.
Average Real Estate Taxes Per Tax Return in Harford County, MD Over the Last 10 Years
Real estate taxes in Harford County, Maryland, have shown a consistent upward trajectory over the past decade, with an increase of nearly $800.00 since 2012. This escalation in taxes might reflect the county's growing appeal and potential infrastructure improvements, factors that local investors and real estate agents could find noteworthy. For appraisers and insurance agents, the steady rise in tax amounts could indicate increasing property values, which may impact assessments and premiums. The latest data saw average real estate taxes per tax return at around $4,360.57 in 2021, suggesting an investment in the area might come with higher ongoing cost considerations.
Percentage of Farm Returns in Harford County, MD Over the Last 10 Years
Harford County, Maryland has seen a fluctuating but generally declining trend in the percentage of farm tax returns over the last decade. From 0.51% in 2012, the value dipped to 0.39% by 2020 before slightly recovering to 0.40% in 2021. Farm tax returns indicate filings primarily related to agricultural income and can be a proxy for the economic health of the local farming sector. For those looking to invest, this could suggest a potential risk or an opportunity for revitalization in the county's agriculture. Understanding these trends could be pivotal for making informed decisions about property investments, local business ventures, or community support initiatives in the region.
Number of Mortgages by Occupancy Type in Harford County, MD Over the Last 5 Years in Harford County
In Harford County, Maryland, mortgage trends over the last five years highlight a remarkable dominance of principal residences, with their count showing significant fluctuations, particularly a steep drop from 25,563 in 2020 to 12,949 in 2022. Investment properties, although much fewer, peaked in 2021 before declining. The modest numbers for second residences have remained stable, yet slightly declining. Such shifts in occupancy types suggest a changing housing market dynamic, which can impact property values, insurance premiums, and investment attractiveness. Shifts in primary residence numbers may indicate local economic conditions affecting homebuying capabilities, while trends in investment properties and second homes could reflect broader market confidence and lifestyle changes.
Economic Outlook
Harford County, Maryland has experienced a notable rise in average taxable incomes over the past nine years, hitting $91,104.80 in 2021, suggesting economic stability and rising affluence. The average state and local income taxes have also trended upward, reaching $11,492.56 in 2021, potentially reflecting a strong local economy and better public services. Additionally, there's been an increase in average total tax liability, peaking at $14,658.12 in 2021, which might indicate rising incomes or... Read more
Average Taxable Income per Tax Return in Harford County, MD over the last 9 years
The average taxable income per tax return in Harford County, Maryland, has shown a consistent upward trend over the last nine years, increasing from approximately $68,605.63 in 2013 to $91,104.80 in 2021. This steady growth could appeal to investors and real estate agents as an indicator of economic stability and rising affluence in the area. Insurance agents and appraisers might find this data valuable when assessing risk and property values, considering that higher income levels generally correlate with better financial security. For potential property developers and those looking to move to Harford County, this trend might suggest a thriving community with robust economic opportunities.
Average State and Local Income Taxes Per Tax Return in Harford County, MD Over the Last 10 Years
Harford County, Maryland has seen a gradual rise in average state and local income taxes per tax return over the last decade, starting at around $7,795.68 in 2012 and climbing to approximately $11,492.56 in 2021. This steady increase might signal a stronger local economy and possibly rising incomes, making it an interesting prospect for investors and new residents. The consistent uptick in tax payments can imply improvements in local infrastructure and public services, potentially enhancing the overall appeal of the area for property developers and businesses.
Average Total Tax Liability Per Tax Return in Harford County, MD Over the Last 10 Years
Over the past decade, Harford County, Maryland has experienced a general upward trend in average total tax liability per tax return, culminating in a notable peak of $14,658.12 in 2021. This increase may suggest economic growth and rising incomes but could also signal higher taxation or increased property values. Potential investors, real estate agents, and new residents should consider these factors when evaluating economic conditions and living costs in the area.
Cost of Living in Harford County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,944 | $1,613 | $1,404 | $2,071 | $1,831 |
| 1 adult 4 children | $1,944 | $1,317 | $1,069 | $2,071 | $1,998 |
| 2 adults 3 children | $1,944 | $1,317 | $1,220 | $2,071 | $1,594 |
| 1 adult 3 children | $1,944 | $1,076 | $886 | $2,071 | $1,778 |
| 2 adults 2 children | $1,498 | $1,078 | $1,036 | $1,811 | $1,252 |
| 1 adult 2 children | $1,498 | $806 | $702 | $1,811 | $1,332 |
| 2 adults 1 child | $1,498 | $852 | $853 | $966 | $1,061 |
| 1 adult 1 child | $1,498 | $551 | $518 | $966 | $1,006 |
| 2 adults | $1,214 | $685 | $669 | $0 | $820 |
| 1 adult | $1,047 | $373 | $334 | $0 | $683 |
Safety trends & Data
Harford County, Maryland has seen property crime rates drop over the past four years, with burglary incidents falling from 132 in 2018 to 46 in 2022, and larceny-theft reports dropping from 615 to 164. Vandalism has also decreased, marking an improvement in property safety. However, arson and fraud rates have fluctuated, indicating some inconsistency. This overall decline in property crimes might boost confidence among investors, prospective residents, appraisers, and real estate agents,... Read more
Property Crime Trends in Harford County, MD Over the Last 4 Years
Harford County, Maryland has seen a noticeable decline in property crimes over the past four years. Key crime categories such as burglary and larceny-theft have significantly decreased, with burglary incidents dropping from 132 in 2018 to just 46 in 2022, and larceny-theft reports reducing from 615 to 164 during the same period. Vandalism also shows a reduction, indicating an overall improvement in property safety. However, arson and fraud rates have fluctuated annually, suggesting some inconsistencies in these areas. This declining trend in property crimes could likely boost confidence among investors, prospective residents, appraisers, and real estate agents, impacting decisions related to property value and insurance premiums.
Demographics
Harford County, Maryland shows a slight female majority in its adult population. Educational attainment levels suggest a large portion of residents have at least a high school diploma or some college education, reflecting a fairly educated community. The age distribution indicates a balanced mix across all age categories, with the highest concentration in the 55 to 64 years range. Racial demographics are predominantly White, with the Black or African American community being the second-largest... Read more
Race Distribution in Harford County, Maryland (2022)
Educational Attainment in Harford County, Maryland (2022)
Age Distribution in Harford County, Maryland
Citizen Population in Harford County, Maryland (2022)
Political Trends & Data
Harford County, Maryland, showcases a slight Republican tilt with the 2020 U.S. Presidential Election results indicating approximately 55% support for the Republican candidate, while the Democrat candidate garnered around 43%. Minor parties collectively captured less than 3%, underscoring a primarily bipartisan voter base. This voting trend could hint at competitive future elections, with both major parties maintaining a critical... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Harford County, Maryland, the 2020 U.S. Presidential Election results show a leaning towards the Republican party with around 55% of the vote, while the Democrat party garnered approximately 43%. The Libertarian and Green parties, along with other minor parties, collectively captured less than 3% of the vote. This distribution may indicate a predominantly Republican voter base, though the Democrat party maintains significant support, suggesting potential for competitive future elections.
54.61% of voters voted for the Republican party in the 2020 Presidential Election
42.58% of voters voted for the Democrat party in the 2020 Presidential Election
1.67% of voters voted for the Livertarian party in the 2020 Presidential Election
0.39% of voters voted for the Green party in the 2020 Presidential Election
0.75% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Harford County, Maryland, the student-to-teacher ratio has demonstrated some fluctuation over the past decade, oscillating from just above 13 students per teacher in 2014 to over 15 in 2020 before slightly decreasing. Despite these shifts, the ratio hovers near the national average of 14 students per teacher. For real estate agents and developers, this insight is crucial as it can indicate more individualized student attention, hinting at a potentially stronger local education system that... Read more
Student-to-teacher ratio in Harford County, Maryland over the last 10 years
The student-to-teacher ratio in Harford County, Maryland has seen some fluctuations over the past decade, starting at just above 13 students per teacher in 2014 and peaking at over 15 in 2020 before slightly decreasing. While it remains relatively close to the national average of 14 students per teacher, these changes might influence the county's overall educational quality and classroom dynamics. For investors and those planning to move to the area, a lower student-to-teacher ratio could indicate more individualized attention for students, suggesting a stronger local education system. This is particularly important for real estate agents and developers promoting family-friendly amenities. Appraisers and insurance agents might also find these trends relevant when assessing property values and liability risks tied to educational institutions in the region.
