Located in the Mid Atlantic region of the United States, Maryland is one of the wealthiest states in the country. Often referred to as the Free State, Maryland is bordered by the District of Colombia, Virginia, and West Virginia. The state of Maryland is the fifth most densely populated states in the U. S.
The capital of Maryland is Annapolis, but its most populated city is Baltimore. The state has been broken down in 24 different counties.
As of yearend 2011, there were approximately 6 million people residing in the state of Maryland. Approximately 48.4% of the population is male and 51.6% is female. 23.1% of Maryland’s population is under the age of 18, 64.4% of the population is in between in the ages of 19 to 64, and 12.5% of population is over the age of 65.
Ethnically the population of Maryland is approximately 60% White, 30% Black, and 10% include other minorities. Almost 87.8% of the population over the age of 25 has a high school degree and almost 36% of people over the age of 25 have a four year bachelors degree or higher. That’s a staggering 8% higher number of bachelors when compared to averages of the entire country.
The per capita income of Maryland is $34,849, whereas the per capita income for the U.S. is only $27,334. Also, 69% of the people in Maryland own their own homes.
There are approximately 2.2 million homes in the state of Maryland. Out of which 51.2% are detached single unit homes, 21% are attached single unit, 2.1% are two unit buildings, 2.9% are 3 to 4 unit buildings, 5.6% are 5 to 9 unit buildings, 7.9% are 10 to 19 unit buildings, 7.2% are 20+ unit buildings, and remaining 1.9% are mobile homes.
77.7% of all the homes in Maryland are on mortgage. Out of the entire population 7.2% pay less than $599 in mortgages, 14.3% pay in between $600 to $999, 44.4% pay in between $1,000 to $1,999, and 11.9% pay mortgages in excess of $2,000 per month.
The unemployment rate in Maryland is only 7.4%, which is one of the lowest in the country. But these numbers have significantly crept up due the poor economic status of the country. Prior to the recession, the unemployment rate in Maryland was lower than 4%. The worst city in Maryland in terms of unemployment is Baltimore with rates at 11.1%. Other counties with high unemployment rates include Cecil, Washington, and Somerset County. Montgomery, Howard, and Fredrick County have the lowest unemployment rates in the state.
However, wages are generally higher in Maryland. The average weekly wage in Maryland is $987.
It is important to note that those with a 4 year bachelor’s degree earn approximately $14,000 more than those with only a high school diploma. Maryland has one of the best educational systems and its public education system has been rated as the best in the nation by Education Week magazine for two consecutive years.
Overall, the state of Maryland is a great place to reside in due to the high literacy and median income. It undoubtedly was one of the most prosperous states prior to the recession and will return to former glory in the near future.