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Carroll County, MD

RANK #591 / 996  ·  POP 173,225  ·  MD

PROJECTED GROWTH: +0.4%

Carroll County shows below-average economic momentum. Growth signals are flat or softening.

[01] Why Carroll County?

Sykesville, once named "Coolest Small Town in America," offers a glimpse into Carroll County, Maryland's distinctive character. Located in the central part of the state, Carroll County sits between Baltimore and Frederick counties, providing a blend of rural scenery and suburban amenities. Commuting to Baltimore or Washington D.C. is possible via MTA commuter buses, though the average one-way commute of 35.6 minutes is longer than the national average. The county's landscape features rolling hills, deciduous forests, and waterways like the Patapsco River and Piney Run Reservoir, offering opportunities for hiking, fishing, and boating at parks such as Piney Run Park and Hashawha Environmental Center.

Life in Carroll County often appeals to families, with highly rated public schools. The community maintains a traditional, close-knit feel. The local economy is diverse, with a significant presence in manufacturing, transportation, and health and business services. While agriculture remains important, there is also a focus on nurturing bioscience and other emerging enterprises. The county has also invested in broadband infrastructure to support its growing businesses.

[02] Market Snapshot

Housing Ratio
9.9x

Overvalued relative to economy

GDP Growth
+2.9%

Above national median

Home Prices
+1.4%

Above national median

Climate & Terrain
-1.3

Below-average climate & terrain

Price/Rent
18x

Above national median (13x)

Housing looks overvalued at 9.9x — home prices are high relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Carroll County U.S. National

The Numbers

DEMOGRAPHICS
Population
173,225
+0.63% YoY
Median Household Income
$111,672
Median Home Value
$390,200
+1.45% 12mo
Median Rent
$1,283
Average Annual Pay
$57,405
+3.5% YoY
Employment
59,195
+2.4% YoY
Income-to-Home-Value
0.2862
More affordable than average
Migration Inflow
3.39%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$491,500
Days on Market
37
Active market
Months of Supply
2.4
Seller's market
Sale-to-List Ratio
100.6%
Homes selling above asking
Sold Above List
39.8%
Listings w/ Price Drops
26.2%
Building Permits (2024)
156
Single-Family Permits
144

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$263M
TOTAL
PROJECT AMOUNT STATUS
Blue Crab Solar & Storage LLC
Blue Crab Solar & Storage LLC
$125M Proposed
Knorr Brake Company Expansion
Knorr Brake Company
$50M Planned
Residential Developments (Multiple Communities)
Various Homebuilders (e.g., Keystone Custom Homes, Ryan Homes)
$50M Under Construction
Broadband Infrastructure Expansion (Fiber Optic Network)
Carroll County Government / Internet Service Providers
$38M Under Construction

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +2.9% 53 percentile
Population Growth +0.6% 58 percentile
Income Growth +6.7% 14 percentile
Vacancy Rate 0.6% 92 percentile
Home Price Change +1.4% 52 percentile
Rent Growth +1.7% 29 percentile
Price/Rent 18x 14 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Carroll County, MD a good place to move to?

Carroll County has a Boom Town Index score of 41/100, ranking #591 among 996 U.S. counties. With job growth at +2.4% and a median household income of $111,672, it faces some economic headwinds compared to faster-growing counties.

Is Carroll County affordable?

The median home value in Carroll County is $390,200 with median rent at $1,283/month. The income-to-home-value ratio is 0.2862, which is more affordable than the national average.

Is Carroll County growing or shrinking?

Population growth: +0.6% year-over-year. Job growth: +2.4%. Home values changed +1.4% in the past 12 months.

Are people moving to Carroll County?

Yes — 3.39% of Carroll County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

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