Talbot County Real Estate and Livability Trends
In Talbot County, Maryland, average taxable incomes have jumped from $77,851.56 in 2013 to $128,126.28 in 2021, hinting at increased local affluence and investment appeal. The median home value climbed from $319,500 in 2015 to $382,000 in 2022, outpacing both state and national averages, suggesting a booming housing market. The area also saw a drop in student-to-teacher ratios, potentially... Read more
Talbot County Market Trends
Talbot County, Maryland's median home values have steadily climbed from $319,500 in 2015 to $382,000 in 2022, outpacing Maryland and national averages. Residential energy tax credits here have fluctuated, peaking at $3,755.56 in 2018, which may influence energy-efficient investments. Real estate taxes have also increased, reaching $5,929.14 in 2021, reflecting possibly higher property values and... Read more
Median Value of Occupied Housing Units in Talbot County, Maryland Over the Last 8 Years
Talbot County, Maryland has seen a steady increase in median home values over the last eight years, rising from $319,500 in 2015 to $382,000 in 2022. This growth outpaces the state of Maryland, which saw median home values rise from $286,900 to $380,500 in the same period, and far surpasses the national increase from $125,500 to $179,400. For those considering investing, moving to, building property in, or currently residing in Talbot County, this upward trend suggests a robust and appreciating real estate market, marking the county as a potentially lucrative location.
Residential Energy Tax Credit Per Tax Return in Talbot County, MD Over the Last 9 Years
Residential energy tax credits in Talbot County, Maryland have seen fluctuating values over the past nine years, with notable spikes and drops at different periods. After a modest increase from $1,134.09 in 2013 to $1,495.12 in 2016, there was a significant leap in 2018 to $3,755.56. However, this was followed by a decline, reaching a low of $978.57 in 2020, before slightly increasing to $1,100.00 in 2021. These trends suggest fluctuating investments in energy-efficient upgrades, which may impact future property values and energy efficiency-related incentives in the housing market. Buyers, investors, and real estate agents might find this trend pertinent when considering long-term energy efficiency investments in the area.
Average Real Estate Taxes Per Tax Return in Talbot County, MD Over the Last 10 Years
Over the last decade, Talbot County, Maryland has seen a noticeable increase in average real estate taxes per tax return, rising from around $3,543.77 in 2012 to about $5,929.14 by 2021. This upward trend may reflect increased property values and an expanding tax base, potentially signaling a growing demand in the local real estate market. For investors, appraisers, and insurance agents, understanding these trends could be crucial for anticipating future tax liabilities and property values. This growth pattern might appeal to those interested in capitalizing on real estate opportunities or those assessing the area’s long-term financial viability.
Percentage of Farm Returns in Talbot County, MD Over the Last 10 Years
Farm tax returns in Talbot County, Maryland, have shown minor fluctuations over the last decade, with percentages generally ranging between 1.22% and 1.47%. These returns represent the proportion of farms filing taxes, which might suggest modest yet consistent agricultural activity. For potential investors or those considering property development, this trend can indicate a relatively stable agricultural sector, although not explosively growing. Understanding the area's agricultural tax landscape can offer insights into potential land use, sustainability for farming investments, and broader economic health in the county.
Number of Mortgages by Occupancy Type in Talbot County, MD Over the Last 5 Years in Talbot County
In Talbot County, Maryland, the past five years have shown significant fluctuations in mortgage counts across different occupancy types. Principal Residences consistently saw the highest figures, peaking in 2021. Investment Properties and Second Residences had lower but relatively stable counts, with slight peaks and valleys. This matters for investors and property developers as it could indicate broader economic trends influencing homeowner confidence and market demand. For insurance agents and appraisers, understanding these trends can help assess risk and property values better, while real estate agents will be keen to tailor their strategies based on the prevailing residential occupancy trends.
Economic Outlook
Talbot County, Maryland has seen a striking rise in average taxable income, climbing from $77,851.56 in 2013 to about $128,126.28 in 2021, despite some dips. Such growth suggests a strengthening local economy or increased affluence among residents, making the area potentially attractive for real estate investors. Similarly, average state and local income taxes have also surged from $9,701.27 in 2012 to $22,855.23 in 2021, adding another layer to the financial landscape to consider. Average... Read more
Average Taxable Income per Tax Return in Talbot County, MD over the last 9 years
Over the past nine years, Talbot County, Maryland has seen a notable upward trend in the average taxable income per tax return, rising from around $77,851.56 in 2013 to approximately $128,126.28 in 2021. Despite some fluctuations, particularly a dip in 2016, the general pattern suggests a robust growth trajectory, with significant peaks in 2018 and 2021. This increase in taxable income could signal a strengthening economy or a rising affluence among county residents, potentially making this area attractive for investors and real estate professionals. However, it also implies that property appraisals and insurance rates might adjust accordingly, reflecting the area's rising economic stature.
Average State and Local Income Taxes Per Tax Return in Talbot County, MD Over the Last 10 Years
Over the past decade, Talbot County in Maryland has experienced a notable increase in average state and local income taxes per tax return, rising from $9,701.27 in 2012 to $22,855.23 in 2021. This upward trend could reflect economic growth, an increase in higher earning residents, or changes in tax policy. Investors and potential residents might find this data relevant when considering the financial landscape and cost of living in the region. It's important to factor these tax implications into decisions related to investment and property development.
Average Total Tax Liability Per Tax Return in Talbot County, MD Over the Last 10 Years
Over the last decade, Talbot County, Maryland, has experienced a general upward trend in average total tax liability per tax return. Notable increases occurred in 2015, 2018, 2020, and 2021, with the 2021 figure reaching $26,958.84. For those looking to invest or build in the area, this trend could indicate a growing local economy or rising property values, which will be of particular interest to real estate agents and investors alike. Appraisers and insurance agents may also find these trends significant for assessing property and insurance needs accurately.
Cost of Living in Talbot County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,707 | $1,713 | $1,419 | $1,522 | $1,516 |
| 1 adult 4 children | $1,707 | $1,399 | $1,082 | $1,522 | $1,648 |
| 2 adults 3 children | $1,707 | $1,400 | $1,232 | $1,522 | $1,261 |
| 1 adult 3 children | $1,707 | $1,143 | $896 | $1,522 | $1,412 |
| 2 adults 2 children | $1,201 | $1,146 | $1,046 | $1,323 | $959 |
| 1 adult 2 children | $1,201 | $856 | $709 | $1,323 | $975 |
| 2 adults 1 child | $1,201 | $905 | $860 | $674 | $884 |
| 1 adult 1 child | $1,201 | $585 | $523 | $674 | $765 |
| 2 adults | $1,063 | $727 | $673 | $0 | $765 |
| 1 adult | $1,013 | $397 | $337 | $0 | $652 |
Safety trends & Data
In Talbot County, Maryland, larceny-theft incidents peaked at 104 in 2018 and 2019 before falling to 58 in 2020 and stabilizing around 70, while burglary incidents peaked at 26 in 2020 then dropped to 10 by 2022. Vandalism incidents decreased from 20 in 2019 to 9 in 2022, suggesting possible improvements in property security or law enforcement. These crime trends may influence property values and community safety assessments for investors, real estate agents, and... Read more
Property Crime Trends in Talbot County, MD Over the Last 5 Years
In Talbot County, Maryland, property crime trends over the last five years show a notable fluctuation. Larceny-theft consistently remains the most frequent crime, peaking at 104 incidents in both 2018 and 2019, but then dropping to 58 in 2020 and stabilizing around the 70-range. Burglary incidents varied more widely, with a high of 26 in 2020 but then dropping to 10 by 2022. Vandalism shows a downward trend from 20 incidents in 2019 to 9 in 2022, providing a potential indication of improving property security or law enforcement effectiveness. Investors, real estate agents, and homeowners may find it useful to understand these trends when assessing property values and community safety dynamics.
Demographics
In Talbot County, Maryland, the gender gap slightly favors females with 15,617 women compared to 13,783 men. Educational attainment reveals a well-educated populace, with 6,565 holding bachelor's degrees and 5,300 with graduate or professional degrees, indicating a strong potential for professional and skilled labor. Age distribution suggests an older population, peaking in the 55 to 64 and 65 to 74 age brackets with approximately 5,775 and 5,804 individuals, respectively. Racial composition is... Read more
Race Distribution in Talbot County, Maryland (2022)
Educational Attainment in Talbot County, Maryland (2022)
Age Distribution in Talbot County, Maryland
Citizen Population in Talbot County, Maryland (2022)
Political Trends & Data
Talbot County, Maryland displayed a nearly balanced political landscape during the 2020 U.S. Presidential Election, with Democrats edging out Republicans by a small margin. Libertarians and Green Party candidates received minimal support, collectively just over 1%, hinting at limited third-party influence. This tight competition could reflect a politically diverse electorate, potentially leading to variability in future... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Talbot County, Maryland, the vote distribution in the 2020 U.S. Presidential Election was relatively close between Republicans and Democrats, with Democrats slightly ahead. Libertarians and Green Party candidates garnered minimal support, collectively capturing just over 1% of the vote, while other parties made up a small fraction. This narrow margin may suggest a politically diverse electorate, indicating potential for variability in future elections.
48.53% of voters voted for the Republican party in the 2020 Presidential Election
49.04% of voters voted for the Democrat party in the 2020 Presidential Election
1.21% of voters voted for the Livertarian party in the 2020 Presidential Election
0.37% of voters voted for the Green party in the 2020 Presidential Election
0.84% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Talbot County, Maryland has hovered around the national average of 14 students per teacher, with a recent decrease to about 13 students per teacher from 2021 through 2023. This lower ratio could hint at more individualized attention in schools, making the area potentially appealing for families prioritizing education. This trend could be of interest to real estate agents, investors, and those considering a move to the region, as quality education is a significant... Read more
Student-to-teacher ratio in Talbot County, Maryland over the last 10 years
The student-to-teacher ratio in Talbot County, Maryland has generally hovered around the national average of 14 students per teacher over the last decade, occasionally dipping below that mark. The ratio saw a minor peak in 2019 at 14 students per teacher, slightly above the national average, while in recent years, particularly 2021 through 2023, it fell to approximately 13 students per teacher. Lower student-to-teacher ratios can suggest more individualized attention, making Talbot County potentially appealing for families prioritizing education. This trend could be a point of interest for real estate agents, investors, and those considering moving to the area.
