Prince George's County Real Estate and Livability Trends
Prince George's County, Maryland has witnessed a notable rise in average taxable income per tax return from $52,254.10 in 2013 to $66,563.24 in 2021, suggesting economic growth and higher earning potential. However, rising state and local income taxes, from $5,635.61 in 2012 to $8,025.91 in 2021, might impact financial decisions for investors and homebuyers. Median home values surged from... Read more
Prince George's County Market Trends
Median home values in Prince George’s County, Maryland have seen notable growth, jumping from $254,700 in 2015 to $380,500 in 2022, outpacing both state and national trends. The increase in average residential energy tax credits per tax return, peaking at $2,211.57 in 2018, suggests a local emphasis on energy-efficient upgrades. Real estate taxes have risen from $3,894.13 in 2012 to $5,273.37... Read more
Median Value of Occupied Housing Units in Prince George's County, Maryland Over the Last 8 Years
Over the past eight years, median home values in Prince George's County, Maryland have exhibited a significant upward trend, jumping from $254,700 in 2015 to $380,500 in 2022. This local surge outpaces both the statewide median values, which rose from $286,900 to $380,500, and the national figures, which moved from $125,500 to $179,400 during the same period. This consistent yearly growth in Prince George's County could be indicative of rising property demand and could potentially signal a thriving real estate market, making it a location of interest for prospective investors and homebuyers.
Residential Energy Tax Credit Per Tax Return in Prince George's County, MD Over the Last 9 Years
Prince George's County, Maryland has seen a notable increase in average residential energy tax credits per tax return over the past nine years. Starting at around $433.71 in 2013, these credits have fluctuated significantly, peaking at $2,211.57 in 2018 before settling at $1,735.75 in 2021. This trend might suggest a growing emphasis on energy-efficient residential investments, which could be particularly intriguing for those considering investing in or appraising properties in the area. For insurance agents and real estate professionals, these fluctuations could be a sign of increasing homeowner awareness and responsiveness to energy-efficient upgrades.
Average Real Estate Taxes Per Tax Return in Prince George's County, MD Over the Last 10 Years
Over the past decade, average real estate taxes per tax return in Prince George's County, Maryland have seen a noticeable upward trajectory. Starting at around $3,894.13 in 2012, the figures increased each year, reaching approximately $5,273.37 by 2021. This trend could indicate rising property values and may be of interest to potential investors, those considering a move, real estate appraisers, insurance agents, and anyone involved in property development or real estate transactions in the area.
Percentage of Farm Returns in Prince George's County, MD Over the Last 10 Years
Prince George's County, Maryland, has seen a general decline in the percentage of farm tax returns over the past decade, dropping from around 0.11% in 2012 to approximately 0.07% in 2021. Farm tax returns are filings that reflect income generated from agricultural activities. This trend could signal a shift in the county's economic landscape, with possible implications for investors, property developers, and residents interested in agricultural opportunities. Lower farm tax return rates might suggest reduced agricultural activity and potential for development in other sectors.
Number of Mortgages by Occupancy Type in Prince George's County, MD Over the Last 5 Years in Prince George's County
Over the last five years in Prince George's County, Maryland, the number of mortgages for principal residences has consistently been significantly higher than for investment properties and second residences. The year 2021 saw the highest number of principal residence mortgages at 88,373, while investment properties peaked at 4,634 the same year. Changes in occupancy types can impact various sectors: Real estate agents and investors might find lucrative opportunities with rising investment property mortgages, whereas appraisers and insurance agents would need to adjust risk assessments and valuation strategies based on this data. The substantial decrease in principal residence mortgages in 2022 could hint at shifting market dynamics that developers and people looking to move to the area should closely monitor.
Economic Outlook
Prince George's County, Maryland has witnessed a notable rise in average taxable income per tax return over the past nine years, from $52,254.10 in 2013 to $66,563.24 in 2021, hinting at gradual economic growth and higher earning potential. This uptick, however, comes alongside increasing state and local income taxes, jumping from $5,635.61 in 2012 to $8,025.91 in 2021, which can influence financial decisions of investors and homebuyers. Additionally, the county has seen a steady climb in total... Read more
Average Taxable Income per Tax Return in Prince George's County, MD over the last 9 years
Over the past 9 years, Prince George's County, Maryland has seen a steady increase in average taxable income per tax return, rising from $52,254.10 in 2013 to $66,563.24 in 2021. This trend suggests gradual economic growth and possibly higher earning potential in the area, which may be a positive indicator for investors, homeowners, and real estate professionals. Such growth might also influence decisions regarding property development and valuation within the county. Financial stakeholders, including appraisers and insurance agents, might find these trends valuable for more accurate assessments and risk evaluations.
Average State and Local Income Taxes Per Tax Return in Prince George's County, MD Over the Last 10 Years
Over the past decade, residents of Prince George's County, Maryland have experienced a notable increase in average state and local income taxes per tax return, rising from approximately $5,635.61 in 2012 to about $8,025.91 in 2021. This upward trajectory is particularly sharp around 2018, which might reflect regional economic changes or shifts in tax policies. Given this trend, potential investors and homebuyers in the area should consider these rising tax obligations when assessing the financial landscape. This can be seen as a sign of growing public revenue, influencing decisions on living, building, or investing in the county.
Average Total Tax Liability Per Tax Return in Prince George's County, MD Over the Last 10 Years
Over the past decade, Prince George's County, Maryland has experienced a steady rise in the average total tax liability per tax return, climbing from roughly $7,139.66 in 2012 to approximately $9,091.70 in 2021. This gradual increase might indicate a combination of rising incomes and property values in the area, which could be appealing to investors and real estate developers. For those looking to purchase or build property, understanding this trend is crucial for financial planning and valuation assessments. Similarly, insurance agents and appraisers might find this data useful when evaluating risk and property worth, as higher tax liabilities can reflect economic growth and shifts in the housing market.
Cost of Living in Prince George's County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,049 | $1,633 | $1,404 | $1,969 | $1,779 |
| 1 adult 4 children | $2,049 | $1,333 | $1,069 | $1,969 | $1,940 |
| 2 adults 3 children | $2,049 | $1,334 | $1,220 | $1,969 | $1,542 |
| 1 adult 3 children | $2,049 | $1,089 | $886 | $1,969 | $1,723 |
| 2 adults 2 children | $1,638 | $1,092 | $1,036 | $1,722 | $1,231 |
| 1 adult 2 children | $1,638 | $816 | $702 | $1,722 | $1,310 |
| 2 adults 1 child | $1,638 | $863 | $853 | $920 | $1,062 |
| 1 adult 1 child | $1,638 | $557 | $518 | $920 | $1,010 |
| 2 adults | $1,439 | $693 | $669 | $0 | $866 |
| 1 adult | $1,416 | $378 | $334 | $0 | $809 |
Safety trends & Data
Prince George's County, Maryland has seen property crimes fluctuate over the past five years. Larceny-theft peaked at 1,420 cases in 2019 but dropped dramatically to 311 by 2022. Burglary numbers also fell sharply from 267 in 2018 to 60 in 2022. Fraud cases showed a slight uptick after 2020, while arson incidents stayed relatively low. These crime dynamics can be quite telling for real estate agents, investors, and insurance professionals as they evaluate property values, insurance premiums,... Read more
Property Crime Trends in Prince George's County, MD Over the Last 5 Years
Prince George's County in Maryland has seen a fluctuating trend in property crimes over the past five years. Larceny-theft consistently leads as the highest reported crime, with the number peaking at 1,420 in 2019 and dropping to 311 in 2022. Burglary and vandalism also show notable variations, with burglary numbers dramatically falling from 267 in 2018 to 60 in 2022. Interestingly, fraud cases saw a slight increase following a dip in 2020, while arson cases remained relatively low throughout the period. These trends could be valuable for real estate agents, investors, and insurance professionals by highlighting crime dynamics that affect property values, insurance rates, and overall community safety.
Demographics
Prince George's County, Maryland shows a higher female population compared to males. Educational attainment skews towards individuals having a high school diploma or some college experience, with significant numbers achieving various degrees. Younger adults, specifically those aged 25-34, seem to be the most populous age group, indicating a potentially vibrant workforce. The racial composition is predominantly Black or African American, followed by White and then a smaller yet diverse... Read more
Political Trends & Data
Prince George's County, Maryland, appears to be a Democratic stronghold, possibly with Democrats capturing close to 89% of the vote in the 2020 U.S. Presidential Election. Republicans seemed to lag behind, maybe with just around 8%, while minor parties like Libertarian and Green collectively made up a negligible portion. This political tilt could influence local policies and investment trends, potentially creating a more progressive environment appealing to certain... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Prince George's County, Maryland, likely leans heavily Democratic based on the 2020 U.S. Presidential Election data, with Democrats potentially securing nearly 89% of votes. Republicans trailed significantly, possibly garnering a little over 8%. Libertarian, Green, and other parties collectively accounted for a small fraction of votes, suggesting limited influence in the county's political landscape.
8.73% of voters voted for the Republican party in the 2020 Presidential Election
89.26% of voters voted for the Democrat party in the 2020 Presidential Election
0.43% of voters voted for the Livertarian party in the 2020 Presidential Election
0.79% of voters voted for the Green party in the 2020 Presidential Election
0.80% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, the student-to-teacher ratio in Prince George's County, Maryland has fluctuated around the national average of 14 students per teacher. It peaked at 15 in 2020 but dropped to around 13 in 2021 and 2022 before rising again to 14 in 2023. These shifts could indicate changes in educational investment or demographics, which might influence property values and market demands. Notably, lower ratios often suggest more personalized education, potentially driving up housing demand... Read more
Student-to-teacher ratio in Prince George'S County, Maryland over the last 10 years
Over the past decade, the student-to-teacher ratio in Prince George's County, Maryland has seen various fluctuations around the national average of 14 students per teacher. From 2014 to 2019, the ratio consistently approached the national average, peaking at 15 in 2020. Notably, there was a significant drop to around 13 in 2021 and 2022, with the ratio beginning to rise again to 14 in 2023. These changes might indicate shifts in educational investment or demographic shifts in the area, which could be useful for investors, real estate agents, and appraisers in projecting property values and market demands. Lower ratios often suggest more personalized education, potentially driving up demand for housing in the area. For those residing in or moving to Prince George's County, understanding these trends is crucial to making informed decisions related to educational quality and neighborhood development.
