Hancock County Real Estate and Livability Trends
In Hancock County, Maine, average taxable income per tax return has surged from $50,943.35 in 2013 to $78,191.18 in 2021, hinting at economic growth likely to bolster property values. Median home values peaked at $250,900 in 2022, surpassing both state and national medians, driven potentially by increased regional affluence as seen in the rise of average total tax liabilities from $7,208.75 to... Read more
Hancock County Market Trends
The median home values in Hancock County, Maine have been climbing steadily, peaking at $250,900 in 2022, surpassing the state median of $244,800 and significantly outpacing national growth. Average residential energy tax credits per return have shown significant volatility, peaking at $3,176.92 in 2018, indicating an inconsistent yet strong incentive for energy-efficient home improvements.... Read more
Median Value of Occupied Housing Units in Hancock County, Maine Over the Last 8 Years
The median home values in Hancock County, Maine have shown a steady upward trend over the last eight years, peaking at $250,900 in 2022. This trajectory surpasses the state's median, which reached $244,800 in the same year, and significantly outpaces the national growth where the median value hit $179,400. For those investing or moving to Hancock County, the data suggests a robust and potentially profitable real estate market that remains competitive with broader state and national averages.
Residential Energy Tax Credit Per Tax Return in Hancock County, ME Over the Last 9 Years
Hancock County, Maine has seen significant fluctuations in the average residential energy tax credit per tax return over the last nine years. Starting at $541.76 in 2013, the average saw an initial decline but then experienced a dramatic spike, peaking at $3176.92 in 2018. This volatility suggests varying levels of investment and adoption of energy-efficient home improvements. For those considering investing or building property in Hancock County, this trend may indicate a strong, albeit inconsistent, incentive structure for residential energy enhancements. Real estate agents and insurance agents could use this information to advise clients about potential tax benefits tied to energy efficiency.
Average Real Estate Taxes Per Tax Return in Hancock County, ME Over the Last 10 Years
Over the past decade, Hancock County, Maine has seen a notable upward trend in average real estate taxes per tax return. Starting at around $3,745.20 in 2012, the average tax gradually increased, hitting approximately $7,074.68 by 2021. This consistent rise suggests that property values or tax rates, or both, have likely grown. This trend could be essential for potential investors, homebuyers, and realtors, as it may indicate a growing regional demand or increased municipal funding needs. It also signals to appraisers and insurance agents that property valuation might require closer scrutiny over recent years.
Percentage of Farm Returns in Hancock County, ME Over the Last 10 Years
Hancock County, Maine has seen fluctuating farm tax returns over the past decade, peaking around 0.92% in 2012 and experiencing a general decline, with the lowest point near 0.70% in 2019. Farm tax returns often reflect agricultural activity and economic health in rural areas, impacting local economies and investment decisions. This variability may indicate shifts in farming viability or broader economic influences, crucial for those considering agricultural investments, property development, or relocation to this region.
Number of Mortgages by Occupancy Type in Hancock County, ME Over the Last 5 Years in Hancock County
In Hancock County, Maine, mortgage counts for principal residences have generally been the highest over the past five years, peaking notably in 2020 at 3,043. Second residences saw a similar peak in 2020 with 801 mortgages, while investment properties remained relatively stable and much lower in comparison. Shifts in occupancy types can indicate changes in local demand dynamics; for instance, a rise in principal residence mortgages could suggest an influx of new residents, potentially driving up property values. For investors and developers, a higher number of second residence and investment property mortgages might hint at a leisure or rental market potential. Furthermore, these trends can help real estate agents strategize marketing efforts and assist insurers in risk assessment based on property use.
Economic Outlook
In Hancock County, Maine, average taxable income per tax return has climbed impressively from $50,943.35 in 2013 to $78,191.18 in 2021, hinting at economic momentum that could bolster property values. Additionally, average state and local income taxes have surged from $6,225.81 in 2012 to $15,755.70 in 2021, a near doubling post-2017, likely impacting real estate investment decisions. Similarly, the average total tax liability has risen from $7,208.75 to $12,558.84 over the past decade,... Read more
Average Taxable Income per Tax Return in Hancock County, ME over the last 9 years
In Hancock County, Maine, there has been a noticeable upward trend in average taxable income per tax return over the past nine years. Starting from approximately $50,943.35 in 2013, incomes have steadily increased, peaking at around $78,191.18 in 2021. This growth suggests the area could be gaining economic momentum, potentially enhancing property values and making it a more appealing destination for both investors and new residents. This information could be particularly useful for real estate agents, appraisers, and insurance agents assessing property risks and values over time.
Average State and Local Income Taxes Per Tax Return in Hancock County, ME Over the Last 10 Years
Over the past decade, Hancock County, Maine has witnessed a significant upward trend in average state and local income taxes per tax return. Starting at $6,225.81 in 2012, this figure has surged to $15,755.70 by 2021. Notably, the most dramatic increases were observed after 2017, reflecting a near doubling in taxes within a four-year span. This sharp rise may influence real estate investment decisions and cost-of-living considerations for prospective residents.
Average Total Tax Liability Per Tax Return in Hancock County, ME Over the Last 10 Years
Hancock County, Maine, has seen a steady increase in average total tax liability per tax return over the last decade, beginning at around $7,208.75 in 2012 and surging to $12,558.84 by 2021. This notable rise, particularly the sharp spike in 2021, likely reflects both economic growth and changing tax policies. For potential investors or property developers, this trend suggests increasing affluence in the region, which might indicate a growing, prosperous market. However, for current residents or those contemplating a move, rising tax liabilities could also imply higher living costs and should be factored into financial planning.
Cost of Living in Hancock County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,383 | $1,713 | $2,251 | $1,496 | $1,719 |
| 1 adult 4 children | $1,383 | $1,399 | $1,722 | $1,496 | $1,843 |
| 2 adults 3 children | $1,383 | $1,400 | $1,953 | $1,496 | $1,393 |
| 1 adult 3 children | $1,383 | $1,143 | $1,424 | $1,496 | $1,529 |
| 2 adults 2 children | $1,036 | $1,146 | $1,655 | $1,307 | $1,076 |
| 1 adult 2 children | $1,036 | $856 | $1,126 | $1,307 | $1,103 |
| 2 adults 1 child | $1,036 | $905 | $1,357 | $692 | $948 |
| 1 adult 1 child | $1,036 | $585 | $828 | $692 | $791 |
| 2 adults | $882 | $727 | $1,059 | $0 | $754 |
| 1 adult | $877 | $397 | $529 | $0 | $677 |
Safety trends & Data
Hancock County, Maine's property crime rates have fluctuated significantly over the past five years, with larceny-theft notably spiking to 239.00 incidents in 2022 from a low of 72.00 in 2021. While burglary and fraud rates have generally declined, this mixed crime landscape implies varied security challenges. For real estate investors and developers, a close analysis of these trends is essential for smarter property investment and development strategies. Understanding local crime dynamics... Read more
Property Crime Trends in Hancock County, ME Over the Last 5 Years
Hancock County, Maine has experienced varied property crime trends over the past five years. Notable fluctuations in larceny-theft, which spiked to 239.0 incidents in 2022 after hitting a low of 72.0 in 2021, indicate potential issues with property security. Burglary and fraud have shown relative declines, hinting at possibly improved preventive measures or community vigilance. However, the overall mixed trends suggest a nuanced landscape that demands targeted strategies for safety and risk management. For real estate investors, developers, and local residents, understanding these nuances could inform better decision-making regarding property purchases and investment opportunities.
Demographics
Hancock County, Maine has a fairly balanced gender split among its adult population, with females slightly outnumbering males. Educational attainment shows a considerable portion with high school diplomas or higher, yet there is also a notable percentage who have attended some college without earning a degree. Age distribution reveals a significant older population, particularly those aged 55 to 74. Predominantly White, the county exhibits limited racial diversity, with very small... Read more
Race Distribution in Hancock County, Maine (2022)
Educational Attainment in Hancock County, Maine (2022)
Age Distribution in Hancock County, Maine
Citizen Population in Hancock County, Maine (2022)
Political Trends & Data
Hancock County, Maine, may lean Democratic but shows a relatively balanced political landscape. In the 2020 Presidential Election, Democrats garnered around 54% of the vote, while Republicans secured close to 42%. Minor parties like the Libertarians and Greens remained almost negligible with less than 2% each. This overall voting pattern suggests a decent level of political diversity, with a slight Democratic... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Hancock County, Maine, exhibited a slight Democratic preference in the 2020 Presidential Election, capturing a little over 54% of the vote. Republicans secured just under 42%, suggesting a notable but not overwhelming opposition. Minor parties like the Libertarian and Green parties had minimal impact, both garnering less than 2% each, making them marginal players in the county's political landscape. This distribution hints at a somewhat balanced but Democratic-leaning electorate in Hancock County.
41.99% of voters voted for the Republican party in the 2020 Presidential Election
54.29% of voters voted for the Democrat party in the 2020 Presidential Election
1.54% of voters voted for the Livertarian party in the 2020 Presidential Election
1.07% of voters voted for the Green party in the 2020 Presidential Election
1.11% of voters voted for the Other party in the 2020 Presidential Election
School Data
Hancock County, Maine, has kept its student-to-teacher ratio below the national average of fourteen students per teacher for a decade, hitting a high of nine students per teacher in 2016 and 2017 before dropping to 8.13 in 2022. These lower ratios might lead to more personalized attention for students, which could appeal to families moving to the area, educators seeking jobs, and investors in educational infrastructure. Real estate agents and appraisers could leverage these educational metrics... Read more
Student-to-teacher ratio in Hancock County, Maine over the last 10 years
Hancock County, Maine, has consistently maintained a student-to-teacher ratio below the national average of fourteen students per teacher over the last decade. This ratio has fluctuated slightly, peaking at around nine students per teacher in 2016 and 2017, then dipping to 8.13 in 2022. These lower ratios could be indicative of more personalized attention for students, which might appeal to families considering a move to the area, educators exploring job opportunities, and investors in educational infrastructure. Real estate agents and appraisers might also find value in promoting and assessing properties based on these educational metrics, potentially influencing property values and desirability.
