Wicomico County Real Estate and Livability Trends
Wicomico County, Maryland's real estate market reveals some interesting trends. The median home value of $226,900 in 2022 has been consistently rising over the last eight years but still falls behind the Maryland state median of $380,500. Property taxes have also seen a gradual increase, reflecting higher property valuations and possibly greater demand for municipal services. Additionally, a... Read more
Wicomico County Market Trends
Wicomico County's median home value of $226,900 in 2022 shows a steady upward trend over the past eight years, though it still trails Maryland's state median of $380,500. The average real estate tax has also gradually risen by nearly $800 over the last decade, peaking at $3,195.95 in 2020, suggesting increasing property values and possibly higher demand for municipal services. Additionally, the... Read more
Median Value of Occupied Housing Units in Wicomico County, Maryland Over the Last 8 Years
Wicomico County's median home values have shown a steady increase over the past eight years, ending at $226,900 in 2022. While still trailing behind Maryland's 2022 median home value of $380,500, Wicomico County has seen a notable jump, particularly compared to the national average of $179,400 in the same year. This growing trend could suggest emerging opportunities for investors and highlights a potential edge for those looking for more affordable options within Maryland.
Residential Energy Tax Credit Per Tax Return in Wicomico County, MD Over the Last 9 Years
Wicomico County, Maryland, has seen quite a fluctuation in the average residential energy tax credit per tax return over the last nine years, starting at $540.57 in 2013 and peaking at $2,186.96 in 2018 before stabilizing around the $1,400 range through 2021. This trend suggests an increasing awareness and adaptation toward energy-efficient improvements among residents. For potential investors, real estate agents, and those considering moving to the area, these figures could signify a community committed to sustainability, which might offer better long-term utility savings and potentially higher property values. Insurance agents and appraisers might find this trend indicative of an overall reduction in risk for energy-related claims, due to more efficient and possibly safer home energy systems.
Average Real Estate Taxes Per Tax Return in Wicomico County, MD Over the Last 10 Years
Over the last decade, Wicomico County, Maryland has seen a steady increase in average real estate taxes per tax return. Starting at $2,344.17 in 2012, the amount gradually rose each year, peaking at $3,195.95 in 2020, then slightly dipping to $3,112.61 in 2021. This gradual uptick, with a notable spike between 2017 and 2018, could suggest rising property values and potentially higher municipal needs or services. Those considering investment opportunities or property development in the area might want to factor in this upward trend in real estate taxes.
Percentage of Farm Returns in Wicomico County, MD Over the Last 10 Years
Farm tax returns in Wicomico County, Maryland have generally trended downward over the past decade. Starting from a high of approximately 0.96% in 2012, the percentage of farm returns slightly dipped each year, hitting a low around 0.71% by 2021. This metric provides insights into the agricultural economic activity in the region. For those looking to invest in, move to, or develop properties in Wicomico County, these figures may suggest shifting economic landscapes and potential changes in land use priorities, possibly influencing both real estate values and community dynamics.
Number of Mortgages by Occupancy Type in Wicomico County, MD Over the Last 5 Years in Wicomico County
Data shows that in Wicomico County, Maryland, mortgage counts for principal residences noticeably peaked in 2021 at 6,592, then dropped to 4,187 in 2022. Investment property mortgages have remained relatively stable with minor fluctuations around the 200-300 range annually. Second residence mortgages, though much less common, peaked at 128 in 2021 but otherwise stayed below 100 each year. Shifts in mortgage occupancy type signal potential changes in the local real estate market dynamics. For investors and developers, rising demand in principal residences might reflect an influx of permanent residents, indicating a potentially stable market for future housing developments. Real estate agents and appraisers could leverage spikes in certain occupancy types to forecast property value trends. Insurance agents might need to reevaluate risk models based on these varying occupancy patterns which could affect premiums and coverage considerations.
Economic Outlook
Wicomico County, Maryland has experienced a steady rise in average taxable income per tax return, jumping from around $46,977.54 in 2013 to roughly $60,718.02 in 2021, with the most notable increase between 2020 and 2021. Simultaneously, average state and local income taxes per tax return have almost doubled from $6,402.47 in 2012 to $11,558.11 in 2021, with significant spikes observed between 2017 and 2021. Additionally, the average total tax liability per tax return has incrementally grown... Read more
Average Taxable Income per Tax Return in Wicomico County, MD over the last 9 years
Over the past nine years, Wicomico County, Maryland has seen a steady increase in average taxable income per tax return, jumping from approximately $46,977.54 in 2013 to around $60,718.02 in 2021. Interestingly, the most significant spike occurred between 2020 and 2021, reflecting a notable economic shift. Such trends might suggest a gradually enhancing economic environment, making it potentially appealing for investors, homebuyers, and financial professionals focusing on the area.
Average State and Local Income Taxes Per Tax Return in Wicomico County, MD Over the Last 10 Years
Over the past decade, Wicomico County, Maryland has seen a notable rise in average state and local income taxes per tax return, growing from $6,402.47 in 2012 to $11,558.11 in 2021. This upward trend could influence decisions for those looking to invest, move, or develop property in the area, as increasing tax liabilities might affect cost of living and potential returns on investment. The most significant spikes occurred between 2017 and 2021, where taxes jumped from $8,005.45 to $11,558.11, suggesting a period of accelerated fiscal change.
Average Total Tax Liability Per Tax Return in Wicomico County, MD Over the Last 10 Years
Over the past decade, Wicomico County, Maryland has observed a general upward trend in average total tax liability per tax return, with amounts rising from approximately $7,029.46 in 2012 to around $8,904.68 in 2021. There were notable fluctuations around 2018 and 2019 where liabilities dipped, but the overall trajectory suggests increasing fiscal responsibilities for residents. This trend could potentially indicate a growing local economy or increasing income levels, making Wicomico County an intriguing option for investors, real estate professionals, and people considering relocation.
Cost of Living in Wicomico County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,506 | $1,424 | $1,456 | $1,547 | $1,235 |
| 1 adult 4 children | $1,506 | $1,163 | $1,110 | $1,547 | $1,387 |
| 2 adults 3 children | $1,506 | $1,163 | $1,265 | $1,547 | $1,041 |
| 1 adult 3 children | $1,506 | $949 | $919 | $1,547 | $1,175 |
| 2 adults 2 children | $1,134 | $952 | $1,074 | $1,340 | $857 |
| 1 adult 2 children | $1,134 | $711 | $728 | $1,340 | $857 |
| 2 adults 1 child | $1,134 | $752 | $883 | $666 | $795 |
| 1 adult 1 child | $1,134 | $486 | $537 | $666 | $683 |
| 2 adults | $861 | $604 | $693 | $0 | $635 |
| 1 adult | $856 | $330 | $346 | $0 | $581 |
Safety trends & Data
Wicomico County, Maryland is experiencing promising trends in property crime reduction. Larceny-theft cases plummeted from 708 in 2018 to 115 in 2022, while burglary incidents dropped from 102 to just 41 over the same period. Declines in embezzlement and fraud suggest improved security measures or enforcement, possibly enhancing property values and appealing to investors, homebuyers, and insurance agents. Reduced instances of vandalism and arson also paint a picture of a safer... Read more
Property Crime Trends in Wicomico County, MD Over the Last 4 Years
Wicomico County, Maryland has seen notable shifts in property crime trends over the past four years. Larceny-theft figures dropped from 708 in 2018 to 115 in 2022, signifying a potential improvement in safety and security. Burglary instances also declined, from 102 in 2018 to 41 in 2022. Crimes like embezzlement and fraud showed a consistent decrease, indicating better safeguards or enforcement. Prospective investors, homebuyers, and insurance agents might find these insights valuable for gauging risk and property values in the area. Lower vandalism and arson incidents further depict a positive community trend.
Demographics
Wicomico County, Maryland, shows a slight male-female ratio tilt with 35,583 adult males to 40,959 adult females. When it comes to education, a substantial portion of adults are high school graduates, followed by those with some college experience but no degree, which could impact local workforce dynamics and job market trends. The age distribution highlights a younger population concentration between ages 25 to 34, while racial diversity is predominantly split between White (64,951) and Black... Read more
Race Distribution in Wicomico County, Maryland (2022)
Educational Attainment in Wicomico County, Maryland (2022)
Age Distribution in Wicomico County, Maryland
Citizen Population in Wicomico County, Maryland (2022)
Political Trends & Data
In Wicomico County, Maryland, the 2020 U.S. Presidential Election results suggest a tightly contested political landscape, with Republicans potentially leading slightly at 49.6% compared to Democrats' 47.7%. Minor parties like the Libertarians and Greens captured 2.6% of the vote, indicating some interest in non-mainstream political options. This competitive environment might hint at possible shifts in future elections, impacting the political leanings of the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Wicomico County, Maryland, the 2020 U.S. Presidential Election results suggest a nearly even split between Republican and Democrat voters, with Republicans potentially holding a slight edge at roughly 49.6%, compared to Democrats at approximately 47.7%. Minor party candidates, including Libertarians, Greens, and others, collectively garnered around 2.6% of the vote, suggesting a limited but present interest in alternative political options. The data implies a competitive political landscape with potential shifts in future elections.
49.65% of voters voted for the Republican party in the 2020 Presidential Election
47.72% of voters voted for the Democrat party in the 2020 Presidential Election
1.16% 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
0.84% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Wicomico County, Maryland has generally trended downward over the past decade, settling between 12 and 13 students per teacher, which is below the national average of 14. While there was a notable jump to nearly 18 in 2020, the current lower ratios may imply smaller class sizes and more individualized attention, a factor that could enhance the area's property values and attractiveness to potential residents and real estate investors... Read more
Student-to-teacher ratio in Wicomico County, Maryland over the last 10 years
The student-to-teacher ratio in Wicomico County, Maryland has seen some fluctuations over the past decade, with ratios generally trending from around 14 to the current 12 to 13 range. Notably, there was a sharp spike to nearly 18 in 2020, which could warrant further investigation. This decrease places the county below the national average of 14 students per teacher, potentially indicating smaller class sizes and more individualized attention for students. For prospective residents, investors, real estate agents, and others with vested interest in the education system, these lower ratios could suggest a more favorable learning environment, possibly enhancing property values and appeal within the community.
