Aroostook County Real Estate and Livability Trends
Aroostook County, Maine is seeing promising economic signs with average taxable incomes growing from $41,586.05 in 2013 to $55,793.81 in 2021, despite rising state and local taxes. The median home value increased modestly from $94,800 in 2015 to $125,400 in 2022, making it attractive for affordable housing seekers compared to the steeper state increases. However, fluctuations in energy tax... Read more
Aroostook County Market Trends
The median home value in Aroostook County, Maine has climbed from $94,800 in 2015 to $125,400 in 2022, a more modest rise compared to the state's jump from $173,800 to $244,800. This gradual appreciation might appeal to buyers seeking affordable properties in a competitive market. Notably, average residential energy tax credits have fluctuated significantly, hinting at variable investment in... Read more
Median Value of Occupied Housing Units in Aroostook County, Maine Over the Last 8 Years
The median home value in Aroostook County, Maine has seen a steady increase from $94,800 in 2015 to $125,400 in 2022. This growth trend, while positive, is relatively modest compared to Maine's state-level increase from $173,800 to $244,800 over the same period. Nationally, home values rose from $125,500 to $179,400. Aroostook County's more gradual rise in home values could present unique opportunities for potential investors and homebuyers looking for more affordable options in an otherwise competitive housing market.
Residential Energy Tax Credit Per Tax Return in Aroostook County, ME Over the Last 9 Years
Over the past nine years, Aroostook County, Maine has witnessed notable fluctuations in the average residential energy tax credit per tax return. Starting at around $279.49 in 2013, the credit saw substantial increases, peaking at $942.86 in 2018 before dropping to $367.44 in 2019. Most recently, in 2021, the average credit stood at approximately $518.67. These shifts could indicate varying levels of investment in energy-efficient improvements among residents, potentially influenced by a combination of economic conditions and policy changes. For investors, builders, and real estate agents, this trend may suggest periodic bursts of energy-saving projects, hinting at underlying opportunities or shifts in local market behavior.
Average Real Estate Taxes Per Tax Return in Aroostook County, ME Over the Last 10 Years
Over the last decade, Aroostook County, Maine has experienced a notable increase in average real estate taxes per tax return, jumping from approximately $2,602.47 in 2012 to $4,032.69 in 2021. These rising real estate taxes may have important implications for prospective investors, homebuyers, and real estate agents, reflecting a potential growth in property values and a changing economic landscape in the region. While the increase in taxes suggests growing local government budgets or shifts in property assessments, it's crucial for appraisers and insurance agents to monitor these changes for accurate valuation and risk assessment. For existing residents and those considering moving to Aroostook County, these trends may influence budgeting and long-term financial planning.
Percentage of Farm Returns in Aroostook County, ME Over the Last 10 Years
Aroostook County, Maine has seen a slight but consistent decline in the percentage of farm returns over the past decade, dropping from around 2.05% in 2012 to roughly 1.65% in 2021. Farm tax returns reflect how many agricultural enterprises filed taxes, often indicating farm activity and economic health within the county. For those considering investment or property development in the area, this trend could point to underlying challenges in the agricultural sector or a shift away from farming in favor of other industries.
Number of Mortgages by Occupancy Type in Aroostook County, ME Over the Last 5 Years in Aroostook County
Aroostook County, Maine, has experienced a noticeable increase in the number of mortgages for principal residences over the past five years, indicating a growing interest in long-term home ownership in the region. Concurrently, there is a gradual rise in mortgages for investment properties and second residences, suggesting expanding opportunities for rental and vacation properties. Changes in occupancy type could suggest shifting economic conditions and population trends, essential factors for potential investors, appraisers, and real estate professionals to consider. Understanding these shifts aids insurance agents in assessing risk, while builders could see this as a sign to capitalize on increasing demand for diverse housing options.
Economic Outlook
Aroostook County, Maine has witnessed a steady climb in average taxable income, from $41,586.05 in 2013 to $55,793.81 in 2021, signaling potential economic stability and opportunity. Concurrently, state and local income taxes have risen notably, from about $6,146.17 in 2012 to roughly $12,755.17 in 2021, with marked increases post-2017. Average total tax liability has also shown an upward trend, increasing from $5,272.76 in 2012 to $7,266.13 by 2021, with significant spikes recently. Despite... Read more
Average Taxable Income per Tax Return in Aroostook County, ME over the last 9 years
Aroostook County in Maine has experienced a consistent increase in average taxable income per tax return over the past nine years. From $41,586.05 in 2013 to $55,793.81 in 2021, the upward trend may suggest a growing economic stability that could be attractive for potential investors, homebuyers, and those looking to build property in the area. These figures potentially indicate better earning opportunities and a robust financial environment, valuable information for real estate agents, appraisers, and insurance agents assessing the local market.
Average State and Local Income Taxes Per Tax Return in Aroostook County, ME Over the Last 10 Years
In Aroostook County, Maine, average state and local income taxes per tax return have shown a general upward trend over the last decade, rising from approximately $6,146.17 in 2012 to around $12,755.17 in 2021. Notable spikes occurred post-2017, with a significant increase observed in 2020 and 2021, suggesting possible economic changes or policy adjustments. This rise in tax obligations might signal a growing economy or shifting tax policies, which could be important considerations for potential investors, new residents, or property developers in the area.
Average Total Tax Liability Per Tax Return in Aroostook County, ME Over the Last 10 Years
Aroostook County, Maine has seen a generally upward trend in average total tax liability per tax return over the past decade. From $5,272.76 in 2012, it has increased to $7,266.13 by 2021, with notable peaks and declines—particularly a sharp increase between 2019 and 2021. These fluctuations might suggest changes in income levels, tax policies, or economic factors affecting the area, which could be vital for potential investors, real estate agents, and new residents to consider when evaluating financial commitments and future planning.
Cost of Living in Aroostook County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,117 | $1,524 | $2,251 | $1,132 | $1,307 |
| 1 adult 4 children | $1,117 | $1,245 | $1,722 | $1,132 | $1,424 |
| 2 adults 3 children | $1,117 | $1,245 | $1,953 | $1,132 | $1,024 |
| 1 adult 3 children | $1,117 | $1,017 | $1,424 | $1,132 | $1,114 |
| 2 adults 2 children | $841 | $1,019 | $1,655 | $986 | $843 |
| 1 adult 2 children | $841 | $761 | $1,126 | $986 | $777 |
| 2 adults 1 child | $841 | $806 | $1,357 | $512 | $763 |
| 1 adult 1 child | $841 | $520 | $828 | $512 | $634 |
| 2 adults | $672 | $647 | $1,059 | $0 | $640 |
| 1 adult | $562 | $353 | $529 | $0 | $538 |
Safety trends & Data
In Aroostook County, Maine, property crimes like burglary and larceny-theft have fluctuated, with burglary reaching a peak of 58 incidents in 2020 and larceny-theft consistently high at 275 arrests in 2019. Motor vehicle theft also saw a notable increase in 2020 with 34 incidents. Fraud and vandalism, while consistent, impact 20 to 50 individuals annually. These crime trends highlight persistent challenges for property investment and community safety, underscoring the need for thorough due... Read more
Property Crime Trends in Aroostook County, ME Over the Last 5 Years
In Aroostook County, Maine, key property crimes such as burglary and larceny-theft have shown fluctuating numbers over the last five years, with burglary peaking at 58 incidents in 2020 and larceny-theft maintaining a relatively high but steady presence, reaching 275 arrests in 2019. Motor vehicle theft experienced a notable high in 2020 with 34 incidents. Meanwhile, fraud and vandalism have remained consistent but significant, impacting around 20 to 50 individuals annually. These trends suggest varying but persistent challenges for both property investment and community safety, making thorough due diligence crucial for investors, residents, and real estate professionals in the region.
Demographics
Aroostook County, Maine, exhibits a balanced gender distribution with a slight female majority. The educational levels show that a significant portion of the population are high school graduates or have some college education, hinting at the community's basic educational achievements. Age-wise, the county has a substantial elderly population, with notable numbers in the 55 to 74 years bracket, which could impact local healthcare and social services. Racially, the population is predominantly... Read more
Race Distribution in Aroostook County, Maine (2022)
Educational Attainment in Aroostook County, Maine (2022)
Age Distribution in Aroostook County, Maine
Citizen Population in Aroostook County, Maine (2022)
Political Trends & Data
Aroostook County, Maine leaned strongly Republican in the 2020 U.S. Presidential Election, with the GOP capturing about 58% of the vote, compared to roughly 39% for Democrats. Minor parties like the Libertarians and Greens combined for less than 2%, suggesting a largely conservative population that could shape local and state... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Aroostook County, Maine displayed notable support for Republican candidates in the 2020 U.S. Presidential Election, capturing roughly 58% of the vote. Meanwhile, Democratic candidates garnered around 39%, indicating a significant gap between the two major parties. Minor parties like the Libertarian and Green parties collectively accounted for less than 2% of the total votes. These trends could suggest a generally conservative leaning within this county, potentially influencing local and state politics.
58.22% of voters voted for the Republican party in the 2020 Presidential Election
38.54% 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
0.64% of voters voted for the Green party in the 2020 Presidential Election
1.44% of voters voted for the Other party in the 2020 Presidential Election
School Data
Aroostook County, Maine's student-to-teacher ratio has stayed below the national average of 14, recently hitting 11.2 in 2023. This trend towards a lower ratio might attract families prioritizing quality education, which in turn could spur real estate interest and potentially drive up property values. Investors and insurance agents might find these insights crucial, while those in educational infrastructure can gauge the local demand for resources and... Read more
Student-to-teacher ratio in Aroostook County, Maine over the last 10 years
Over the past decade, Aroostook County, Maine has experienced a student-to-teacher ratio consistently below the current national average of 14 students per teacher. Specifically, the ratio has fluctuated between 11 and 12 students per teacher, with a slight downward trend in recent years, registering 11.2 in 2023. This relatively low student-to-teacher ratio could be appealing for potential investors, new residents, and real estate agents due to the potential for more individualized attention in the classroom, which might be an attractive feature for families prioritizing education. Lower ratios can also impact property values positively, which insurance agents and appraisers might find relevant. For those looking to build or invest in educational facilities, understanding these trends can provide insights into the local demand for teaching staff and educational resources.
