Howard County Real Estate and Livability Trends
Howard County, Maryland's real estate market is reflecting a strengthening economy, with the average taxable income per tax return jumping from $98,090.32 in 2013 to $138,623.98 in 2021. Median home values have surged from $429,100 in 2015 to $551,300 in 2022, outpacing broader trends and enhancing the locale's appeal for developers and investors. Average real estate taxes have risen accordingly,... Read more
Howard County Market Trends
Howard County, Maryland, has experienced a notable increase in median home values from $429,100 in 2015 to $551,300 in 2022, outpacing both the state and national rates. The average residential energy tax credit per tax return spiked significantly to $4,047.69 in 2018 but generally ranged from $1,243.88 to $1,669.53 in other years, hinting at fluctuating investments in energy efficiency. Average... Read more
Median Value of Occupied Housing Units in Howard County, Maryland Over the Last 8 Years
Howard County, Maryland, has seen a steady increase in median home values over the past eight years, growing from $429,100 in 2015 to $551,300 in 2022. This local growth has outpaced both state and national rates, where Maryland's median home value rose to $380,500 and the national figure reached $179,400 in the same period. For anyone looking to invest, relocate, or develop in Howard County, this upward trend could suggest a robust and appreciating housing market, indicating potentially strong returns and value appreciation over time.
Residential Energy Tax Credit Per Tax Return in Howard County, MD Over the Last 9 Years
In Howard County, Maryland, the average residential energy tax credit per tax return has shown notable fluctuations over the past nine years. While it began at around $627.16 in 2013, there was a significant spike to over $4,047.69 in 2018, suggesting potentially increased investments in energy-efficient home improvements or available incentives that year. The subsequent years' averages settled between approximately $1,243.88 to $1,669.53, reflecting ongoing, yet variable, homeowner engagement with energy-saving upgrades. This trend could indicate a growing awareness and adoption of energy-efficient technologies, offering valuable insights for real estate professionals, investors, and policy makers considering the area's sustainable living initiatives.
Average Real Estate Taxes Per Tax Return in Howard County, MD Over the Last 10 Years
Over the past decade, Howard County, Maryland has seen a consistent increase in average real estate taxes per tax return, starting at $5,741.44 in 2012 and reaching $7,877.20 by 2021. This upward trend may reflect rising property values or changes in tax rates, and it could be a vital consideration for investors, real estate agents, and potential homeowners. The steady growth in taxes might signal a robust local economy but could also indicate increased living costs for current residents.
Percentage of Farm Returns in Howard County, MD Over the Last 10 Years
Farm tax returns in Howard County, Maryland, have shown a slight but consistent decline over the last decade, moving from 0.23% of total returns in 2012 to just 0.17% in 2021. This could indicate a gradual shift away from agriculture-based activities and more towards urbanization or other economic ventures. For potential investors or anyone planning to move or build property in the area, this trend might suggest a changing economic landscape where agricultural activities are becoming less prominent, potentially opening up opportunities in non-farming sectors.
Number of Mortgages by Occupancy Type in Howard County, MD Over the Last 5 Years in Howard County
Howard County, Maryland has seen a distinct shift in mortgage trends over the last five years, with a notable spike in principal residence mortgages peaking in 2020. Investment property counts surged significantly in 2021, indicating a potential investor confidence which could hint at economic development. Meanwhile, second residences have remained relatively low and stable, suggesting limited demand for vacation homes in the area. These variations in occupancy can have far-reaching implications for potential investors, insurance agents, appraisers, and real estate agents; changes in mortgage types may reflect broader economic shifts, affordability, and market volatility. Understanding these trends is crucial for making informed decisions about property values, market competitiveness, and investment strategies.
Economic Outlook
In Howard County, Maryland, the average taxable income per tax return has grown significantly, from roughly $98,090.32 in 2013 to about $138,623.98 in 2021. This rise could signal a strengthening economy, which might attract investors and new residents seeking higher-end properties. Additionally, state and local income taxes and total tax liability have also increased, with taxes leaping from $11,461.23 in 2012 to $17,627.17 in 2021, and total tax liabilities from $19,311.54 to $27,610.63 over... Read more
Average Taxable Income per Tax Return in Howard County, MD over the last 9 years
Over the past nine years, Howard County, Maryland has seen a notable increase in the average taxable income per tax return, growing from approximately $98,090.32 in 2013 to roughly $138,623.98 in 2021. This trend could indicate a strengthening local economy which might appeal to potential investors and those considering relocating. Real estate agents and property developers, in particular, may find the rising income levels suggestive of robust demand for higher-end properties. However, appraisers and insurance agents might also need to consider how these changes impact property values and insurance premiums.
Average State and Local Income Taxes Per Tax Return in Howard County, MD Over the Last 10 Years
Over the past decade, average state and local income taxes per tax return in Howard County, Maryland have shown a general upward trend. Starting at $11,461.23 in 2012, the taxes increased each year, with a notable rise to $17,627.17 by 2021. This steady climb may suggest economic growth or policy changes affecting tax rates. For potential investors and residents, understanding this trajectory could be crucial for long-term financial planning and assessing the overall fiscal environment of the county.
Average Total Tax Liability Per Tax Return in Howard County, MD Over the Last 10 Years
Howard County, Maryland has seen a notable increase in the average total tax liability per tax return over the last decade. Starting from approximately $19,311.54 in 2012, the figure demonstrated a general upward trend, culminating at around $27,610.63 in 2021. Although there were slight fluctuations, the steady rise reflects an overall increase in wealth or taxable income in the area, which might interest real estate investors and appraisers focused on high-value properties. Potential residents and insurance agents may want to consider this trend when assessing the financial landscape and potential liabilities in the county.
Cost of Living in Howard County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,569 | $1,753 | $1,404 | $3,068 | $2,592 |
| 1 adult 4 children | $2,569 | $1,432 | $1,069 | $3,068 | $2,643 |
| 2 adults 3 children | $2,569 | $1,432 | $1,220 | $3,068 | $2,348 |
| 1 adult 3 children | $2,569 | $1,169 | $886 | $3,068 | $2,456 |
| 2 adults 2 children | $1,979 | $1,173 | $1,036 | $2,666 | $1,825 |
| 1 adult 2 children | $1,979 | $876 | $702 | $2,666 | $1,932 |
| 2 adults 1 child | $1,979 | $927 | $853 | $1,358 | $1,341 |
| 1 adult 1 child | $1,979 | $599 | $518 | $1,358 | $1,382 |
| 2 adults | $1,603 | $744 | $669 | $0 | $950 |
| 1 adult | $1,383 | $406 | $334 | $0 | $815 |
Safety trends & Data
Howard County, Maryland's property crime trends over the past four years reveal a mixed bag for potential investors and residents. Burglary arrests hit a high of 168 in 2019 but dropped to 74 by 2022. Larceny-theft incidents plummeted from 628 in 2018 to just 144 in 2022. Interestingly, motor vehicle theft almost doubled in 2022, reaching 35 cases, while vandalism fell from a peak of 63 in 2019 to 29 in 2022. Notably, fraud and forgery have declined substantially, pointing to possibly better... Read more
Property Crime Trends in Howard County, MD Over the Last 4 Years
Howard County, Maryland has experienced varying trends in property crime over the past four years. Notably, burglary arrests peaked in 2019 with 168 cases but gradually decreased to 74 by 2022. Larceny-theft also saw a significant drop from 628 cases in 2018 to just 144 in 2022. Conversely, motor vehicle theft, although initially low, almost doubled in 2022, reaching 35 cases. Vandalism showed some fluctuation, peaking at 63 cases in 2019 but decreasing to 29 in 2022. Fraud and forgery have seen a substantial decline, indicating potentially improved preventive measures or reporting changes. These shifts in crime patterns are crucial for investors, real estate agents, and new residents considering the area's safety landscape.
Demographics
Howard County, Maryland, shows a relatively balanced split between male (112,262) and female (117,176) residents. The county has a highly educated population, with the majority holding Bachelor's (69,388) or Graduate/Professional degrees (74,802). Age distribution highlights a significant presence in the 35 to 44 age range (47,897), which might suggest a considerable working-age population. The racial diversity is notable as well, with significant White (168,563), Black or African American... Read more
Race Distribution in Howard County, Maryland (2022)
Educational Attainment in Howard County, Maryland (2022)
Age Distribution in Howard County, Maryland
Citizen Population in Howard County, Maryland (2022)
Political Trends & Data
In Howard County, Maryland, the 2020 U.S. Presidential Election results indicate a notable Democratic dominance with approximately 71% of the votes, while Republicans trailed at around 26%. Minor parties like the Libertarian and Green parties barely crossed the 1% mark. This voting trend may reflect broader regional or state preferences, potentially shaping future political strategies in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Howard County, Maryland, the 2020 U.S. Presidential Election results suggest a strong lean towards the Democratic Party, which captured approximately 71% of the votes. Republicans garnered about 26%, significantly trailing the Democrats. Lesser-known parties like the Libertarian and Green parties received minimal support, hovering around 1.35% and 0.43% respectively, with other parties collectively amassing just over 1%. This trend potentially mirrors broader state or regional preferences and could influence future electoral strategies.
26.43% of voters voted for the Republican party in the 2020 Presidential Election
70.70% of voters voted for the Democrat party in the 2020 Presidential Election
1.35% of voters voted for the Livertarian party in the 2020 Presidential Election
0.43% 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
Howard County, Maryland, has consistently maintained a student-to-teacher ratio below the national average, dropping from 13.75 in 2014 to 12.95 in 2023. This trend could attract families due to the potential for individualized attention and higher quality education, making the area more desirable. Investors and real estate agents might view this commitment to small class sizes as a positive indicator, possibly boosting property values. Appraisers and insurance agents could also see the... Read more
Student-to-teacher ratio in Howard County, Maryland over the last 10 years
Over the last decade, Howard County, Maryland has consistently maintained a student-to-teacher ratio well below the national average of 14 students per teacher. The ratio has seen a gradual decline from around 13.75 in 2014 to 12.95 in 2023. This lower student-to-teacher ratio could be an attractive factor for families considering moving to the area due to the potential for more individualized attention and higher quality education. Investors and real estate agents might see this trend as a positive indicator of the county’s commitment to maintaining small class sizes, enhancing the desirability of the location. For appraisers and insurance agents, this emphasis on education quality can contribute to the overall valuation and attractiveness of properties in Howard County.
