Washington County Real Estate and Livability Trends
Washington County, Maryland has seen a considerable rise in average taxable income per tax return, from $53,273.21 in 2013 to $68,567.22 in 2021, which might signal a stronger local economy. Real estate taxes have increased from $2,728.31 in 2012 to $3,572.08 in 2021, reflecting escalating costs that potential buyers should consider. Meanwhile, median home values have grown moderately from... Read more
Washington County Market Trends
Washington County, Maryland's real estate market shows a steady increase in median home values, rising from $200,100 in 2015 to $262,400 in 2022, a more moderate growth compared to Maryland's overall rise from $286,900 to $380,500. For budget-conscious buyers or investors, this affordability, coupled with a growing interest in energy-efficient home improvements, is an attractive feature. Notably,... Read more
Median Value of Occupied Housing Units in Washington County, Maryland Over the Last 8 Years
Washington County, Maryland has seen a steady upward trend in median home values over the past eight years, rising from $200,100 in 2015 to $262,400 in 2022. While this growth trajectory is significant, it still lags behind the state of Maryland, where median home values surged from $286,900 to $380,500 over the same period. Comparatively, Washington County remains more affordable than the state and even reflects a more moderate increase than the national average, which climbed from $125,500 in 2015 to $179,400 in 2022. This dynamic suggests Washington County might offer a more budget-friendly option for potential homeowners or investors looking for growth potential without the high entry cost seen elsewhere in Maryland.
Residential Energy Tax Credit Per Tax Return in Washington County, MD Over the Last 9 Years
Washington County, Maryland has seen a notable increase in residential energy tax credits per tax return over the past nine years, peaking dramatically in 2018 at $2,976.47, likely due to significant energy-efficient upgrades or policy changes. While there was a sharp spike, the general trend reveals a steady climb from $509.55 in 2013 to around $1,145.26 in 2021. These trends suggest that homeowners are progressively more invested in energy-efficient improvements, which can be appealing for potential buyers, investors, and real estate agents interested in properties that lower energy costs. Insurance agents and appraisers should also consider these improvements, as they may influence property values and risk assessments.
Average Real Estate Taxes Per Tax Return in Washington County, MD Over the Last 10 Years
The average real estate taxes per tax return in Washington County, Maryland, have shown a steady increase over the last decade, climbing from about $2,728.31 in 2012 to $3,572.08 in 2021. Notably, there was a significant jump between 2017 and 2018, marking an upward trend that could impact long-term planning for potential investors and current property owners alike. For those looking to buy or sell property, this rising tax trend underscores the importance of factoring in escalating costs as part of financial projections.
Percentage of Farm Returns in Washington County, MD Over the Last 10 Years
Farm tax returns in Washington County, Maryland over the past decade show a gradual decline from around 1.18% in 2012 to 1.00% in 2021. This slight but steady decrease might reflect shifts in the local economy or changes in the agricultural sector. For those considering investments, this trend may suggest a changing landscape in farm-related activities, possibly due to urban development, varied agricultural profitability, or policy adjustments. Recognizing these dynamics can help potential investors or residents understand the evolving economic environment and make informed decisions about property development or other ventures in the area.
Number of Mortgages by Occupancy Type in Washington County, MD Over the Last 5 Years in Washington County
Washington County, Maryland has seen fluctuations in mortgage activity across different occupancy types over the last five years. The number of mortgages for principal residences peaked in 2021 at 11,560, significantly higher than the previous years. Investment properties also saw a notable rise in 2021 before dropping in 2022. Second residences have consistently remained a small fraction of the mortgage market. These changes could indicate evolving buyer preferences, potentially affecting investment strategies and market valuations for appraisers, real estate agents, and those considering moving to or investing in the area. Understanding these trends helps in predicting market stability and growth potential, important factors for insurance assessments and property development.
Economic Outlook
In Washington County, Maryland, the average taxable income per tax return has risen from $53,273.21 in 2013 to $68,567.22 in 2021, potentially indicating a stronger local economy and higher earning potential. Complementing this rise, average state and local income taxes per tax return have increased from $6,592.87 in 2012 to $11,673.75 in 2021, particularly spiking from 2018 onwards. Total tax liability per tax return also climbed from $7,469.44 in 2012 to $10,111.40 in 2021. These trends may... Read more
Average Taxable Income per Tax Return in Washington County, MD over the last 9 years
Over the last nine years, average taxable income per tax return in Washington County, Maryland has shown a steady increase, rising from $53,273.21 in 2013 to $68,567.22 in 2021. This upward trend suggests a potentially growing local economy and increasing earning potential for residents. Such financial trends may be appealing for investors, real estate agents, and those considering relocation or property development, as they reflect a community with improving financial stability and potentially higher disposable incomes. Appraisers and insurance agents may also find this data useful for recalculating property values and risk assessments.
Average State and Local Income Taxes Per Tax Return in Washington County, MD Over the Last 10 Years
Washington County, Maryland has seen a noticeable rise in average state and local income taxes per tax return over the past decade, climbing from $6,592.87 in 2012 to $11,673.75 in 2021. A significant spike is observed starting from 2018, with taxes jumping to over $10,000 and continuing to increase annually. This trend could indicate growing fiscal responsibilities for residents, which may impact decisions for potential investors or individuals considering moving to or developing property in the area.
Average Total Tax Liability Per Tax Return in Washington County, MD Over the Last 10 Years
Over the past decade, Washington County, Maryland has experienced a noticeable upward trend in average total tax liability per tax return, increasing from approximately $7,469.44 in 2012 to around $10,111.40 in 2021. This gradual escalation might suggest a growing economic base and rising incomes, which could be indicative of economic health in the region. For real estate agents, investors, and those in the financial sector, this trend could signal a strengthening market and potential growth opportunities. However, rising tax liabilities also imply potentially higher costs for residents and new property owners, important information for appraisers and insurance agents assessing regional financial risks.
Cost of Living in Washington County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,506 | $1,488 | $1,456 | $1,691 | $1,340 |
| 1 adult 4 children | $1,506 | $1,215 | $1,110 | $1,691 | $1,499 |
| 2 adults 3 children | $1,506 | $1,216 | $1,265 | $1,691 | $1,135 |
| 1 adult 3 children | $1,506 | $992 | $919 | $1,691 | $1,280 |
| 2 adults 2 children | $1,060 | $995 | $1,074 | $1,478 | $895 |
| 1 adult 2 children | $1,060 | $743 | $728 | $1,478 | $902 |
| 2 adults 1 child | $1,060 | $786 | $883 | $787 | $822 |
| 1 adult 1 child | $1,060 | $508 | $537 | $787 | $717 |
| 2 adults | $818 | $632 | $693 | $0 | $650 |
| 1 adult | $709 | $345 | $346 | $0 | $535 |
Safety trends & Data
Property crime in Washington County, Maryland has seen notable drops over the past five years. Larceny-theft cases plummeted from 704 in 2018 to just 156 in 2022, and burglaries fell from 170 to 123 over the same period. Motor vehicle theft decreased more gradually, from 69 in 2018 to 20 in 2022. These trends hint at improved security measures and community vigilance, possibly making the area safer for investors and new... Read more
Property Crime Trends in Washington County, MD Over the Last 5 Years
Washington County, Maryland has experienced notable fluctuations in property crime over the last five years. Larceny-theft incidents have significantly declined from a high of 704 in 2018 to just 156 in 2022. Similarly, burglary cases have also seen a decrease, dropping from 170 in 2018 to 123 in 2022. Motor vehicle theft has also trended downwards, though more modestly, with instances decreasing from 69 in 2018 to 20 in 2022. Interestingly, cases of arson, forgery, counterfeiting, and fraud have remained relatively low and stable throughout this period. Overall, these trends may suggest improving security measures and possibly more vigilant community practices, possibly making the county an increasingly safer place for investors and new residents.
Demographics
In Washington County, Maryland, 2022 demographic trends reveal a modest male-to-female ratio, with roughly equal distributions that might suggest balanced community needs. Education levels show a strong high school graduation rate but a notable drop-off in higher degrees, potentially impacting local workforce qualifications. The age distribution indicates a slightly older population, particularly evident in the high numbers of those aged 45 and above, which might influence healthcare and... Read more
Race Distribution in Washington County, Maryland (2022)
Educational Attainment in Washington County, Maryland (2022)
Age Distribution in Washington County, Maryland
Citizen Population in Washington County, Maryland (2022)
Political Trends & Data
In Washington County, Maryland, the 2020 U.S. Presidential Election results leaned significantly towards Republican candidates, suggesting a conservative voter base. While the Democratic Party captured a substantial portion of the votes, it was notably less than their Republican counterparts. Minor parties such as the Libertarians and Greens had minimal impact, indicating limited traction for alternative political movements in this... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Washington County, Maryland, the 2020 U.S. Presidential Election results suggest a significant leaning towards Republican candidates, potentially indicating a conservative voter base. The Democratic Party also secured a sizeable share of the votes, though notably less than the Republicans. Minor parties like the Libertarians and Greens had minimal impact, hinting at limited traction for alternative political movements in this region.
59.35% of voters voted for the Republican party in the 2020 Presidential Election
38.42% of voters voted for the Democrat party in the 2020 Presidential Election
1.23% of voters voted for the Livertarian party in the 2020 Presidential Election
0.46% of voters voted for the Green party in the 2020 Presidential Election
0.54% of voters voted for the Other party in the 2020 Presidential Election
School Data
Washington County, Maryland has seen its student-to-teacher ratio fluctuate, peaking at 16 students per teacher in 2018 before aligning closer to the national average of 14 students per teacher. Shifts in these ratios often imply more individualized attention in schools, possibly enhancing educational outcomes, which can influence property values and desirability. Builders and insurance agents may find these ratios relevant for assessing the infrastructure needs of a growing or stabilizing... Read more
Student-to-teacher ratio in Washington County, Maryland over the last 10 years
Over the last decade, Washington County, Maryland has experienced fluctuations in its student-to-teacher ratio, peaking at around 16 students per teacher in 2018 before adjusting closer to the current national average of 14 students per teacher. Investors and those looking to move into the area might find these shifts significant as lower ratios often imply more individualized attention in schools, potentially enhancing educational outcomes. Such metrics can also influence property values and desirability, affecting appraisals and real estate dynamics. Insurance agents and builders may also find these ratios relevant when considering the infrastructure needs of a growing or stabilizing family community.
