Kent County Real Estate and Livability Trends
Kent County, Maryland has seen home values rise to $291,900 in 2022, outpacing the national average but still below the state's, suggesting a growing interest in the local real estate market. Real estate taxes have climbed from $4,040.12 in 2012 to $5,613.64 in 2021, indicating increased property demand and potential economic growth. Significant fluctuations in residential energy tax credits,... Read more
Kent County Market Trends
Kent County, Maryland's real estate market has experienced a steady increase in home values, peaking at $291,900 in 2022, which is notable given it's higher than the national average but below the state's. Fluctuations in residential energy tax credits, notably peaking at $1,523.53 in 2016 and $3,166.67 in 2018, could indicate waves of energy-efficient upgrades or shifts in local incentives. Real... Read more
Median Value of Occupied Housing Units in Kent County, Maryland Over the Last 8 Years
Kent County, Maryland has seen a steady climb in median home values over the last eight years, reaching $291,900 in 2022. Interestingly, while these values are lower than Maryland's state average of $380,500, they significantly outpace the national average of $179,400, suggesting a market that could be less volatile yet promising for long-term investors or prospective homeowners. This marked difference indicates that Kent County may offer a balanced investment opportunity compared to broader trends.
Residential Energy Tax Credit Per Tax Return in Kent County, MD Over the Last 9 Years
In Kent County, Maryland, residential energy tax credits per tax return show a highly variable trend over the last nine years. Notable spikes were observed in 2016 and 2018 with credits peaking at approximately $1523.53 and $3166.67 respectively. These fluctuations might suggest periodic investment in energy-efficient upgrades or incentive changes. Potential investors, real estate agents, and property developers could see this as an indication of local government initiatives or homeowner interest in sustainability, impacting both market dynamics and long-term property values.
Average Real Estate Taxes Per Tax Return in Kent County, MD Over the Last 10 Years
Kent County, Maryland has seen a consistent rise in average real estate taxes per tax return over the past decade, beginning at approximately $4,040.12 in 2012 and increasing to about $5,613.64 by 2021. This trend suggests a growing demand for property in the area, which could be an indicator of economic growth or rising property values. Significant jumps around 2018 and 2019 hint at notable changes in the local market, possibly due to new developments or changes in tax policies. This steady increase in real estate taxes may influence decisions for potential investors, homeowners, and real estate professionals by highlighting the area's economic trajectory and its implications for future property values and costs.
Percentage of Farm Returns in Kent County, MD Over the Last 10 Years
Farm tax returns in Kent County, Maryland have generally fluctuated around 2.7% over the past decade, although they dropped to about 2.1% in 2021. This fluctuation may suggest variability in the local agricultural economy, influencing both large-scale and smaller farming operations. For potential investors or those looking to develop agricultural properties, understanding these trends is crucial for forecasting economic stability and growth opportunities in this rural area.
Number of Mortgages by Occupancy Type in Kent County, MD Over the Last 5 Years in Kent County
Kent County, Maryland, has seen a notable shift in mortgage counts across different occupancy types over the past five years. Principal residences dominate the market, peaking sharply in 2021 with over 1,450 mortgages before tapering off in subsequent years. Second residences and investment properties, while relatively stable, have not experienced such dramatic fluctuations. These changes in occupancy type matter because they indicate varying demand levels and investment strategies. For potential investors, this could signal a lucrative opportunity in rental and vacation properties, while insurance agents and appraisers might note the changing risk profiles. Real estate agents and builders can tailor their strategies accordingly, focusing on the growing or declining demand in each category to optimize their business operations.
Economic Outlook
Kent County, Maryland has experienced a steady rise in average taxable income per tax return from $64,787.12 in 2013 to $90,155.52 in 2021, hinting at a stronger local economy that might attract investors and new residents. Concurrently, average state and local income taxes have fluctuated, with a significant surge from $9,591.69 in 2017 to $12,880.56 in 2018, ultimately peaking at approximately $14,263.93 in 2021. This suggests rising fiscal demands, potentially impacting financial planning... Read more
Average Taxable Income per Tax Return in Kent County, MD over the last 9 years
In Kent County, Maryland, the average taxable income per tax return has generally shown an upward trend over the past nine years. Starting at $64,787.12 in 2013, there were fluctuations but a noticeable increase to $90,155.52 by 2021. This upward trajectory suggests a potentially stronger local economy, making the county an intriguing prospect for investors, real estate agents, and those looking to build or move into the area. Appraisers and insurance agents might also find this data useful when evaluating property values and associated risks.
Average State and Local Income Taxes Per Tax Return in Kent County, MD Over the Last 10 Years
Kent County, Maryland has seen notable fluctuations in average state and local income taxes per tax return over the last decade. Starting at $9,420.30 in 2012, the taxes generally increased, reaching a peak of approximately $14,263.93 in 2021. A significant surge occurred from 2017 to 2018, with values jumping from $9,591.69 to $12,880.56. This trend implies rising fiscal demands which could impact potential investors and new residents who need to account for these higher tax burdens, although fluctuations suggest potential variability year over year.
Average Total Tax Liability Per Tax Return in Kent County, MD Over the Last 10 Years
Over the last decade, Kent County, Maryland, has seen fluctuations in average total tax liability per tax return, with notable peaks and troughs. An interesting upward spike occurred in 2021, reaching $15,986.39, significantly higher compared to previous years that mostly hovered around the $12,000 to $13,000 range. This recent increase could be indicative of economic changes, higher incomes, or shifts in the local tax base. For those interested in investing, moving, or conducting property appraisals in Kent County, understanding these tax trends may be keen in predicting future tax liabilities and financial planning.
Cost of Living in Kent County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,503 | $1,709 | $1,419 | $1,137 | $1,268 |
| 1 adult 4 children | $1,503 | $1,396 | $1,082 | $1,137 | $1,399 |
| 2 adults 3 children | $1,503 | $1,396 | $1,232 | $1,137 | $1,046 |
| 1 adult 3 children | $1,503 | $1,140 | $896 | $1,137 | $1,159 |
| 2 adults 2 children | $1,091 | $1,143 | $1,046 | $990 | $845 |
| 1 adult 2 children | $1,091 | $854 | $709 | $990 | $815 |
| 2 adults 1 child | $1,091 | $903 | $860 | $512 | $816 |
| 1 adult 1 child | $1,091 | $583 | $523 | $512 | $695 |
| 2 adults | $881 | $726 | $673 | $0 | $713 |
| 1 adult | $875 | $396 | $337 | $0 | $613 |
Safety trends & Data
Kent County, Maryland has had fluctuating property crime rates over the past four years, with burglary peaking at 25 cases in 2019 before dropping to 15 in 2022. Larceny-theft, the most common crime, hit 48 cases in 2019 but reduced to 31 by 2022. Vandalism has stayed low, never exceeding 8 cases annually. These improvements suggest a potentially safer environment, which could enhance property values and appeal to investors, homeowners, and real estate... Read more
Property Crime Trends in Kent County, MD Over the Last 4 Years
Kent County, Maryland has seen fluctuating property crime rates over the past four years. Burglary incidents peaked in 2019 at 25 cases but have since decreased to 15 in 2022. Larceny-theft, consistently the most frequent crime, saw a high of 48 cases in 2019, with a notable drop to 31 in 2022. Vandalism has remained relatively low, never surpassing 8 cases in any given year. These trends suggest some improvement in property crime rates, which matters for potential investors, homeowners, and real estate agents by possibly indicating a safer environment and enhancing property values over time.
Demographics
Kent County, Maryland displays a slightly higher female adult population, suggesting potential socio-economic dynamics revolving around gender. Educational attainment reveals a robust high school graduate rate, though a notable number fall short of a diploma, posing questions about workforce readiness and opportunities for non-degree holders. Age distribution leans toward an aging population, which might impact healthcare services and senior support. Predominantly White, the racial composition... Read more
Race Distribution in Kent County, Maryland (2022)
Educational Attainment in Kent County, Maryland (2022)
Age Distribution in Kent County, Maryland
Citizen Population in Kent County, Maryland (2022)
Political Trends & Data
Kent County, Maryland showed a nearly even divide in the 2020 U.S. Presidential Election, with Democrats capturing about 49.4% of the vote and Republicans securing roughly 48.1%. Third parties had minimal influence, collectively drawing only around 2.4%. This close political split suggests Kent County may be a swing area, reflecting a politically diverse landscape that could be pivotal in future... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Kent County, Maryland, the 2020 U.S. Presidential Election votes appeared nearly split between Republicans and Democrats, with Democrats slightly ahead at approximately 49.4% and Republicans at about 48.1%. Libertarian and Green parties seemed to have minimal impact, capturing around 1% and 0.6% of the votes, respectively. Votes categorized under "Other" made up close to 0.8%, indicating a marginal preference for non-major party candidates. This close result possibly highlights Kent County as a politically diverse or swing region within the state.
48.13% of voters voted for the Republican party in the 2020 Presidential Election
49.37% of voters voted for the Democrat party in the 2020 Presidential Election
1.08% of voters voted for the Livertarian party in the 2020 Presidential Election
0.63% of voters voted for the Green party in the 2020 Presidential Election
0.79% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, the student-to-teacher ratio in Kent County, Maryland has dropped from around 13 students per teacher in 2014 to approximately 11 in 2023. Compared to the national average of 14 students per teacher, this lower ratio might attract families and educators looking for more personalized attention in schools. These trends could hint at a stronger local education system, influencing property values and making the area more desirable for potential residents and... Read more
Student-to-teacher ratio in Kent County, Maryland over the last 10 years
Over the past decade, the student-to-teacher ratio in Kent County, Maryland has shown a downward trend, starting at around 13 students per teacher in 2014 and reaching approximately 11 in 2023. This shift suggests that class sizes are becoming smaller, favorable for potential new residents or investors prioritizing education quality. Compared to the national average of 14 students per teacher, Kent County's lower ratios might indicate more personalized attention for students, possibly making it a more attractive location for families and educators alike. For real estate agents, appraisers, and those in the insurance industry, these changes could signal a strengthening local education system, potentially influencing property values and the overall desirability of the area.
