Cumberland County Real Estate and Livability Trends
Cumberland County, Maine has seen substantial trends in real estate market dynamics. The median home values have surged from $243,800 in 2015 to $372,900 in 2022, indicating a robust demand. Concurrently, average state and local income taxes per tax return have skyrocketed from $8,234.47 in 2012 to $22,491.53 in 2021, potentially tied to rising income levels or tax rates. The student-to-teacher... Read more
Cumberland County Market Trends
Cumberland County, Maine has consistently experienced a notable rise in median home values, from $243,800 in 2015 to $372,900 in 2022, outperforming state and national trends. The market's growth suggests a higher demand, making it attractive for investments or relocations. Real estate taxes have also trended upward, jumping from $4,685.86 in 2012 to $7,576.94 in 2021, particularly spiking... Read more
Median Value of Occupied Housing Units in Cumberland County, Maine Over the Last 8 Years
Cumberland County, Maine has consistently outperformed both state and national trends in median home values over the past eight years. From $243,800 in 2015 to $372,900 in 2022, Cumberland's market shows a steady and notable increase. In comparison, Maine's state median value rose from $173,800 to $244,800, and the national median shifted from $125,500 to $179,400. This significant price growth in Cumberland County may indicate higher demand and possibly a more attractive market for property investments or relocations, setting it apart from broader state and national trends.
Residential Energy Tax Credit Per Tax Return in Cumberland County, ME Over the Last 9 Years
Over the past nine years in Cumberland County, Maine, there has been notable fluctuation in the average residential energy tax credit per tax return, ranging from approximately $434.47 in 2013 to a high of around $3,720.69 in 2018. This variability highlights potential shifts in renewable energy adoption and energy-efficient improvements among homeowners. Particularly, the pronounced spike in 2018 suggests a significant surge in such activities, possibly due to incentives or increased awareness during that period. This pattern can provide valuable insights for those looking to invest in property improvements, real estate agents identifying market trends, and insurance agents assessing property value and risk adjustments.
Average Real Estate Taxes Per Tax Return in Cumberland County, ME Over the Last 10 Years
Over the past decade, real estate taxes per tax return in Cumberland County, Maine have shown a consistent upward trend. From $4,685.86 in 2012 to $7,576.94 in 2021, there was notable growth, especially between 2017 and 2018, with a sharp increase from $5,800.06 to $6,913.82. This steady rise might reflect increasing property values and potentially higher demand, making it crucial for potential investors, homebuyers, and real estate agents to consider these factors in their financial planning and market analysis.
Percentage of Farm Returns in Cumberland County, ME Over the Last 10 Years
Over the last decade, Cumberland County in Maine has seen a relatively stable trend in the percentage of farm tax returns, with minor fluctuations ranging from approximately 0.26% in 2012 to around 0.23% in 2021. Notable dips occurred in 2018 and 2019, but the values appear to have rebounded slightly in 2020 before declining again in 2021. These farm tax returns indicate the proportion of agricultural business filings within the county, which can be a critical metric for potential investors or property developers interested in the agricultural sector. Minimal variation in this percentage suggests a consistent level of farming activity, which may appeal to those looking to invest in or support the local farming community.
Number of Mortgages by Occupancy Type in Cumberland County, ME Over the Last 5 Years in Cumberland County
The number of mortgages for principal residences in Cumberland County, Maine has shown variability, peaking significantly in 2020 at just over 26,000, possibly indicating heightened activity due to historically low interest rates or pandemic-related relocations. Investment properties demonstrated more consistency but tapered off slightly in recent years, which might be attributed to market volatility or shifting investor confidence. Mortgages for second residences have remained relatively stable but still reflect cautious optimism among buyers. Understanding these shifts helps investors gauge rental market potential, while builders and real estate agents can tailor strategies to meet the evolving demands of primary versus secondary and investment housing. Appraisers and insurance agents also benefit since these trends influence property values and risk assessments.
Economic Outlook
Cumberland County, Maine has experienced a notable rise in average taxable income per tax return over the past nine years, leaping significantly from $91,025.11 to $106,055.68 between 2020 and 2021. Concurrently, average state and local income taxes per tax return have surged from $8,234.47 in 2012 to $22,491.53 in 2021, underscoring either higher income levels or increased tax rates. A consistent climb in average total tax liability per tax return, from $11,313.76 in 2012 to $19,844.44 in... Read more
Average Taxable Income per Tax Return in Cumberland County, ME over the last 9 years
Cumberland County, Maine has seen a consistent rise in average taxable income per tax return over the past nine years, with a sharp increase between 2020 and 2021 where it jumped from around $91,025.11 to approximately $106,055.68. This trend suggests a notable economic upturn that could attract potential investors and homebuyers looking for upward momentum in property values. Real estate agents and appraisers should be aware of these figures as they may reflect growing affluence in the area, potentially influencing market dynamics and insurance valuations. This upward trajectory of income could be an indicator of a flourishing local economy, making the county a compelling option for those considering relocation or investment.
Average State and Local Income Taxes Per Tax Return in Cumberland County, ME Over the Last 10 Years
Cumberland County, Maine has seen a notable upward trajectory in average state and local income taxes per tax return over the past decade. Starting at $8,234.47 in 2012 and reaching $22,491.53 in 2021, the increase suggests a substantial rise in either income levels or tax rates, or both. Particularly sharp jumps are observed from 2017 onwards, with a significant spike between 2018 and 2021. Potential investors or residents might see this trend as indicative of economic growth but should also consider the growing tax burden when planning financially.
Average Total Tax Liability Per Tax Return in Cumberland County, ME Over the Last 10 Years
Over the past decade, the average total tax liability per tax return in Cumberland County, Maine has seen a consistent upward trend. With figures rising from $11,313.76 in 2012 to $19,844.44 in 2021, this increase might signal a growing affluence or changes in tax policies. This trend could be significant for investors, appraisers, and real estate agents as escalating tax liabilities essentially impact the cost of living and property investment decisions. This makes it crucial for those considering moving or building in Cumberland County to factor in these rising tax liabilities.
Cost of Living in Cumberland County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,265 | $1,757 | $1,817 | $1,945 | $2,143 |
| 1 adult 4 children | $2,265 | $1,435 | $1,396 | $1,945 | $2,309 |
| 2 adults 3 children | $2,265 | $1,436 | $1,573 | $1,945 | $1,853 |
| 1 adult 3 children | $2,265 | $1,172 | $1,152 | $1,945 | $2,053 |
| 2 adults 2 children | $1,797 | $1,175 | $1,330 | $1,747 | $1,450 |
| 1 adult 2 children | $1,797 | $878 | $909 | $1,747 | $1,563 |
| 2 adults 1 child | $1,797 | $929 | $1,086 | $1,107 | $1,230 |
| 1 adult 1 child | $1,797 | $600 | $665 | $1,107 | $1,255 |
| 2 adults | $1,395 | $746 | $842 | $0 | $861 |
| 1 adult | $1,204 | $407 | $421 | $0 | $740 |
Safety trends & Data
Property crime in Cumberland County, Maine has experienced notable trends over the past five years. Larceny-theft remains the most common offense, while burglary rates have significantly dropped from 135.00 in 2018 to 46.00 in 2022, hinting at improved security or economic conditions. Vandalism incidents have slightly declined, peaking at 187.00 in 2018 and falling to 145.00 in 2022. Arson cases, though low, saw spikes of 9.00 in both 2020 and 2022. These crime patterns could be critical for... Read more
Property Crime Trends in Cumberland County, ME Over the Last 5 Years
Property crime in Cumberland County, Maine has shown notable fluctuations over the past five years, particularly in larceny-theft, which consistently leads as the most prevalent offense. Burglary rates have decreased from 135.0 in 2018 to 46.0 in 2022, indicating a potential improvement in security measures or economic conditions. Similarly, vandalism incidents have oscillated but seem to be on a slight decline, peaking at 187.0 in 2018 and reducing to 145.0 in 2022. Arson, although low in volume, spiked to 9.0 cases in both 2020 and 2022. For prospective investors or real estate professionals, understanding these crime patterns could be crucial in making informed decisions on property investments and insurance considerations.
Demographics
Cumberland County, Maine shows a balanced gender split with slightly more females than males in its adult population. The county's educational attainment exhibits a diverse spread, with notable proportions having bachelor's degrees and some college education without a degree. When examining age distribution, a significant portion of the population falls within the 25 to 64-year range, reflecting a potentially active workforce. Racially, the county is predominantly White, but there are small,... Read more
Race Distribution in Cumberland County, Maine (2022)
Educational Attainment in Cumberland County, Maine (2022)
Age Distribution in Cumberland County, Maine
Citizen Population in Cumberland County, Maine (2022)
Political Trends & Data
Cumberland County, Maine appears to lean significantly toward Democratic candidates, as evidenced by the 2020 U.S. Presidential Election where approximately 65.7% of votes were for the Democrats. The Republicans garnered about 30.4%, with smaller parties like the Libertarians and Greens capturing roughly 1.5% and 1.1% of the votes, respectively. This Democratic tilt could reflect unique regional priorities or demographics that buyers and investors might find... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Cumberland County, Maine, Democratic candidates seemed to have a considerable edge in the 2020 U.S. Presidential Election, garnering approximately 65.7% of the votes. Republicans followed with around 30.4%, while smaller parties like the Libertarians and Greens each captured nominal shares, roughly 1.5% and 1.1% respectively. This suggests that Cumberland County leans more Democratic compared to other regions, reflecting possibly different regional priorities or demographics.
30.41% of voters voted for the Republican party in the 2020 Presidential Election
65.72% of voters voted for the Democrat party in the 2020 Presidential Election
1.51% of voters voted for the Livertarian party in the 2020 Presidential Election
1.10% of voters voted for the Green party in the 2020 Presidential Election
1.26% of voters voted for the Other party in the 2020 Presidential Election
School Data
Cumberland County, Maine has consistently maintained a student-to-teacher ratio of around 12 students per teacher over the past decade, dropping to 11 in 2022. With a national average of 14 students per teacher, this lower ratio offers more personalized educational experiences, potentially appealing to families seeking smaller class sizes. This educational advantage could also positively impact property values, making the area attractive for homebuyers and investors focused on quality... Read more
Student-to-teacher ratio in Cumberland County, Maine over the last 10 years
Over the past decade, Cumberland County in Maine has seen a fairly steady student-to-teacher ratio, generally hovering around 12 students per teacher. Notably, the ratio dipped to 11 students per teacher in 2022, making the area potentially more attractive to families prioritizing smaller class sizes. Compared to the national average of 14 students per teacher, Cumberland County offers a more personalized educational experience, which could be an important factor for potential homebuyers, investors, and real estate agents to consider. The relatively low ratios might also influence property values positively, making the region appealing for educational investment and family settlements.
