Franklin County Real Estate and Livability Trends
Franklin County, Maine's real estate market has seen considerable growth with median home values increasing from $129,600 in 2015 to $170,600 in 2022. Rising average taxable incomes and the jump in average state and local income taxes from $5,806.37 to $12,825.00 from 2012 to 2021 suggest growing economic development. Property and energy tax trends reflect broader economic conditions and could... Read more
Franklin County Market Trends
Median home values in Franklin County, Maine rose from $129,600 in 2015 to $170,600 in 2022, closely following national trends but trailing behind statewide increases. Local real estate might present compelling opportunities as it shows notable growth but still has potential for further appreciation compared to the broader Maine market. Real estate tax burdens have surged, peaking at $5,826.83 in... Read more
Median Value of Occupied Housing Units in Franklin County, Maine Over the Last 8 Years
Median home values in Franklin County, Maine have experienced steady growth over the past eight years, rising from $129,600 in 2015 to $170,600 in 2022. Interestingly, this local increase aligns with national trends, where values went up from $125,500 to $179,400 over the same period. In contrast, Maine as a whole started higher at $173,800 in 2015, reaching $244,800 in 2022. Residents and investors in Franklin County may find compelling opportunities given that local growth outpaces the national average, yet still lags behind the broader Maine market, potentially indicating room for further appreciation.
Residential Energy Tax Credit Per Tax Return in Franklin County, ME Over the Last 8 Years
Franklin County, Maine has seen fluctuations in the average residential energy tax credit per tax return over the past eight years. After a modest start at $315.22 in 2013, there was a significant increase to $733.33 in 2015. Although it dipped again in subsequent years, the average hovered around $652.38 by 2020, peaking at $777.78 in 2021. These trends might indicate renewed interest or incentives in energy-efficient home upgrades, which could be of interest to investors, real estate agents, and others involved in property development and appraisal in the area.
Average Real Estate Taxes Per Tax Return in Franklin County, ME Over the Last 10 Years
Over the last decade, Franklin County, Maine has seen a noticeable increase in average real estate taxes per tax return, starting from around $3,033.07 in 2012 and peaking at approximately $5,826.83 in 2019. This upward trend suggests a growing financial burden on property owners, which could influence potential investors, homebuyers, and insurers when considering the region. The spike in 2018 and 2019 may raise concerns about the stability or predictability of tax rates, making it important for appraisers and real estate agents to factor in such fluctuations when advising clients. The recent slight decrease between 2020 and 2021 to about $5,140.00 and $5,019.44 respectively might provide some relief, but the long-term trend points to a generally higher cost of property ownership in the area.
Percentage of Farm Returns in Franklin County, ME Over the Last 10 Years
Over the last decade, Franklin County, Maine, has seen a slight fluctuation in the percentage of farm tax returns, ranging from about 1.63% to 2.08%. Farm tax returns, in this context, represent the proportion of total tax returns attributed to agricultural activities within the county. This trend could indicate varying levels of farm activity and economic contribution from the agricultural sector. For those looking to invest, move to, or build property in Franklin County, understanding these nuances can offer insights into the local economy’s dependency on farming and potential opportunities for agricultural ventures.
Number of Mortgages by Occupancy Type in Franklin County, ME Over the Last 5 Years in Franklin County
Mortgages for principal residences in Franklin County, Maine showed a steady increase from 2018 to 2021, peaking at 1222 in 2021 before dropping to 863 in 2022. Second residences also saw growth, reaching 609 in 2020 and then declining to 303 by 2022. Investment properties remained relatively stable, with minor fluctuations around 40 to 70 mortgages yearly. These shifts in occupancy types can provide insights into home-buying trends, demand for vacation properties, and investor confidence, impacting decisions for buyers, investors, appraisers, and real estate agents alike.
Economic Outlook
Franklin County, Maine has seen an upswing in average taxable income per tax return, rising from $43,604.80 in 2013 to $61,012.17 in 2021. This growth hints at economic development, potentially attracting new residents and investors. Average state and local income taxes also nearly doubled from $5,806.37 in 2012 to $12,825.00 in 2021, showing a rising tax burden. Moreover, the average total tax liability per tax return jumped to $8,549.13 in 2021, reflecting broader economic conditions and... Read more
Average Taxable Income per Tax Return in Franklin County, ME over the last 9 years
Franklin County, Maine has experienced a steady increase in average taxable income per tax return over the past nine years, climbing from $43,604.80 in 2013 to $61,012.17 in 2021. This upward trend hints at economic growth within the region, potentially making it a more attractive destination for investors and new residents. Real estate agents and property developers might want to take note of this promising sign, as increased income levels could bode well for property values. Likewise, insurance agents and appraisers could find this information valuable when assessing risks and valuations.
Average State and Local Income Taxes Per Tax Return in Franklin County, ME Over the Last 10 Years
Franklin County, Maine has seen a significant increase in average state and local income taxes per tax return over the past decade. Starting at around $5,806.37 in 2012, the amount climbed to $12,825.00 by 2021. Notable jumps were observed in 2018 and 2019, with taxes reaching $9,016.28 and $9,815.38 respectively. This trend indicates a rising tax burden that could impact decisions on investing in, moving to, or building property in the county. It's particularly crucial for current and potential residents to consider these escalating tax costs when planning their finances.
Average Total Tax Liability Per Tax Return in Franklin County, ME Over the Last 10 Years
The average total tax liability per tax return in Franklin County, Maine, has shown an upward trend over the past decade. Starting at $6,058.68 in 2012, it remained relatively stable with minor fluctuations until a noticeable jump to $8,549.13 in 2021. This trend could potentially indicate a growing economy, property value appreciation, and potentially higher income levels. For individuals and professionals interested in this area, it's essential to consider how these tax liabilities might reflect broader economic conditions and impact financial planning, investment strategies, and market activities.
Cost of Living in Franklin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,257 | $1,568 | $2,009 | $1,143 | $1,334 |
| 1 adult 4 children | $1,257 | $1,281 | $1,535 | $1,143 | $1,476 |
| 2 adults 3 children | $1,257 | $1,281 | $1,744 | $1,143 | $1,059 |
| 1 adult 3 children | $1,257 | $1,046 | $1,270 | $1,143 | $1,175 |
| 2 adults 2 children | $939 | $1,049 | $1,479 | $1,025 | $869 |
| 1 adult 2 children | $939 | $783 | $1,004 | $1,025 | $830 |
| 2 adults 1 child | $939 | $829 | $1,214 | $641 | $819 |
| 1 adult 1 child | $939 | $535 | $739 | $641 | $705 |
| 2 adults | $713 | $666 | $948 | $0 | $649 |
| 1 adult | $632 | $363 | $474 | $0 | $571 |
Safety trends & Data
Property crime trends in Franklin County, Maine, have fluctuated significantly over the past five years. Burglary cases were low until they spiked to 15.00 in 2022. Larceny-theft was the most common crime, peaking at 72.00 in 2022. Motor vehicle thefts and embezzlement stayed low, rarely exceeding single digits. Vandalism varied, reaching 46.00 in 2021, while fraud cases dropped after 2020 but increased again in 2022. These shifting crime rates could impact property values, insurance costs, and... Read more
Property Crime Trends in Franklin County, ME Over the Last 5 Years
Over the last five years, Franklin County, Maine, has experienced fluctuating trends in property crime. Burglary incidents remained relatively low from 2018 to 2021, before spiking to 15.0 cases in 2022. Larceny-theft constituted the most frequent crime each year, peaking at 72.0 in 2022. Motor vehicle thefts and embezzlement stayed consistently low, rarely surpassing single-digit figures. Meanwhile, vandalism incidents showcased significant variability, hitting a high of 46.0 in 2021. Fraud cases dropped notably after 2020 but showed an uptick in 2022. This fluidity in crime trends may influence property valuations, insurance premiums, and investment appeal for those considering relocating, investing, or building in the area.
Demographics
In Franklin County, Maine, the gender distribution is almost balanced, with slightly more women than men. The population's educational attainment suggests a strong high school completion rate, with nearly a third of adults having some college education but no degree. Age-wise, there's a notable concentration of older adults. The county has an overwhelmingly white population, with minimal racial diversity reflected in the small numbers for Black or African American, Asian, and other races. This... Read more
Race Distribution in Franklin County, Maine (2022)
Educational Attainment in Franklin County, Maine (2022)
Age Distribution in Franklin County, Maine
Citizen Population in Franklin County, Maine (2022)
Political Trends & Data
Franklin County, Maine's political landscape is marked by a near-even split in the 2020 Presidential election, with Republicans holding a slight edge of approximately 4% over Democrats. This tight race reflects a community with diverse viewpoints, while minor parties, including the Libertarian and Green, captured minimal shares, each less than 2%. This varied political alignment could play a role in shaping local policies and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Franklin County, Maine, the 2020 U.S. Presidential election showcased a near-even split between Republican and Democrat votes, with Republicans slightly ahead by around 4%. Minor parties like the Libertarian and Green received noticeably small shares, each hovering around or below the 2% mark. This close competition between the major parties highlights a diverse political landscape and suggests a community with varied perspectives.
49.74% of voters voted for the Republican party in the 2020 Presidential Election
45.85% of voters voted for the Democrat party in the 2020 Presidential Election
2.01% of voters voted for the Livertarian party in the 2020 Presidential Election
1.04% of voters voted for the Green party in the 2020 Presidential Election
1.36% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Franklin County, Maine has typically ranged between 11 and 12 over the past decade, a figure consistently lower than the U.S. national average of 14. This closer attention to individual students might be appealing for families moving to the area, potentially making properties more attractive. Real estate agents can leverage these stats when marketing homes, and investors might see it as a sign of a well-supported community. Additionally, insurance agents might... Read more
Student-to-teacher ratio in Franklin County, Maine over the last 10 years
The student-to-teacher ratio in Franklin County, Maine has mostly ranged between 11 and 12 over the past decade, occasionally dipping below 11. This compares favorably to the U.S. national average of 14 students per teacher. These lower ratios could imply smaller class sizes, which often suggest more individualized attention for students and potentially better educational outcomes. Such factors could be attractive for families considering a move to this region, as well as for real estate agents highlighting the area to prospective buyers. Lower student-to-teacher ratios might also appeal to investors looking to develop or appraise educational facilities, as this could be seen as an indicator of community commitment to quality education. For insurance agents, knowing the local educational environment could be helpful when assessing policies for families.
