Talbot County, Maryland: commercial real estate data.
Talbot County, Maryland had an estimated 38,244 residents on July 1, 2024, up 1.9 percent since the 2020 census base of 37,522, across 269 square miles. County output reached $2.79 bn in 2024, 1,468 establishments operate here, and the SBA record carries 44 7(a) approvals worth $22.9 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Talbot County
How many people live in Talbot County
- Population, American Community Survey 2020-202437,917
- Households16,433
- Average household size2.31
- Median household income$84,811
- Median age51.2
- Median gross rent$1,256 per month
- Median owner-occupied home value$409,700
- Home value to household income4.8 times
- Annual rent as a share of median income17.8 percent
- Adults 25 and over with a bachelor degree or higher42.0 percent
- Adults 25 and over with a graduate degree17.7 percent
- Adults 25 and over28,694
- Population under 187,045
- Share under 1818.6 percent
- Population 65 and over11,210
- Share 65 and over29.6 percent
- Working age population, 18 to 6419,662
- Civilian labor force17,935
- Unemployment rate4.3 percent
- Labor force participation, adults 18 and over58.1 percent
- Rank by population among Maryland counties19th of 24
- Rank by population among US county-equivalents, Puerto Rico included1256th of 3,222
Talbot County is the 19th largest of 24 Maryland counties by population. A median home costs 4.8 times median household income, which is seriously unaffordable by national standards. Residents 65 and over outnumber those under 18, at 29.6 percent against 18.6 percent, which points demand at health care, services and single story product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Talbot County
Is Talbot County's population growing?
- Population, July 1, 202438,244
- Census 2020 base population37,522
- Population change since the 2020 census base1.92 percent
- Population change, 2023 to 2024177
- Births, 2024342
- Deaths, 2024584
- Natural change, 2024-242
- Net domestic migration, 2024240
- Net international migration, 2024178
- Total net migration, 2024418
- Cumulative net domestic migration, 2021 to 20241,143
- Rank by growth among US county-equivalents1188th of 3,144
The county has grown 1.92 percent since the 2020 census base. Deaths exceeded births in 2024 and the population still grew, so all of the growth came from people moving in. A market held up by migration is more sensitive to a change in relative cost than one growing from household formation.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Talbot County
Where are people moving to Talbot County from?
- Tax returns filed by households arriving1,140
- People arriving, from those returns1,952
- Tax returns filed by households leaving1,033
- Net household movement107
- Adjusted gross income arriving$176.9 m
- Net adjusted gross income movement$46.5 m
- Average income of an arriving household$155,168
- Average income of a leaving household$126,183
- Largest single originDorchester County (110 households)
- Largest single destinationDorchester County (143 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Dorchester County | 110 | 229 | $4.2 m |
| Anne Arundel County | 88 | 143 | $11.0 m |
| Caroline County | 83 | 132 | $4.1 m |
| Queen Anne's County | 76 | 140 | $6.0 m |
| Montgomery County | 48 | 86 | $9.8 m |
| District of Columbia | 42 | 77 | $13.9 m |
| Baltimore County | 39 | 58 | $4.2 m |
| Baltimore city | 30 | 45 | $6.1 m |
Households arriving report $28,985 more average income than households leaving, so the migration is raising local spending power rather than just moving it around. The largest single source of arrivals is Dorchester County, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Talbot County
What is the Talbot County economy?
- County GDP, 2024$2.79 bn
- County GDP, 2023$2.66 bn
- GDP change, 2023 to 20244.7 percent
- GDP change over five years37.2 percent
- Rank by GDP among the Maryland areas BEA publishes19th of 24
- Rank by GDP among the US county areas BEA publishes1027th of 3,127
- GDP per resident$73,494
Output grew 4.7 percent in the latest year and 37.2 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Talbot County
Employment by industry in Talbot County
- Covered employment, annual average18,220
- Establishments reporting1,596
- Average annual pay$56,684
- Average weekly wage$1,090
- Health care and social assistance, employment3,545
- Health care and social assistance, average annual pay$68,176
- Retail trade, employment2,632
- Retail trade, average annual pay$37,622
- Accommodation and food services, employment2,320
- Accommodation and food services, average annual pay$30,662
- Professional, scientific and technical services, employment1,181
- Professional, scientific and technical services, average annual pay$72,759
- Construction, employment1,167
- Administrative and support and waste management services, employment1,120
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 3,545 | 161 | $68,176 |
| Retail trade | 2,632 | 202 | $37,622 |
| Accommodation and food services | 2,320 | 136 | $30,662 |
| Professional, scientific and technical services | 1,181 | 183 | $72,759 |
| Construction | 1,167 | 184 | $62,101 |
| Administrative and support and waste management services | 1,120 | 101 | $50,056 |
| Other services, except public administration | 834 | 196 | $49,856 |
| Arts, entertainment and recreation | 600 | 39 | $40,480 |
Health care and social assistance is the largest private sector at 3,545 jobs, 19.5 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Talbot County
How many businesses are in Talbot County?
- Establishments, all industries1,468
- Employment at those establishments17,567
- Annual payroll$965.5 m
- Establishments per 1,000 residents38.7
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Talbot County
Building permits in Talbot County
- Housing units authorized by permit, 2024104
- Declared construction value permitted$54.1 m
- Single family units authorized104
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$520,060
- Units authorized per 1,000 households6.3
Single-family homes are 100.0 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Talbot County
SBA loans in Talbot County (7(a) and 504)
- 7(a) approvals recorded44
- 7(a) gross approval dollars$22.9 m
- Average 7(a) approval$521,307
- Median 7(a) approval$82,500
- 10th percentile approval$15,000
- 90th percentile approval$1,823,000
- Largest single approval$4,726,000
- Jobs reported supported, 7(a)362
- Jobs per approval8.2
- Distinct 7(a) lenders active11
- Distinct industries receiving approvals25
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer13.6 percent
- Loans on real estate terms6
- Loans on working capital terms, 120 months or shorter36
- Franchise loans6
- Franchise share of approvals13.6 percent
- Most active lenderManufacturers and Traders Trust Company (29)
- 504 approvals recorded7
- 504 gross approval dollars$5.9 m
- Average 504 approval$838,571
- Median 504 approval$606,000
- Distinct CDCs active3
- 504 jobs per approval6.4
- 504 jobs per million dollars approved7.7
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$28.8 m
The average approval of $521,307 sits well above the median of $82,500, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 13.6 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Talbot County
SBA loan default and charge-off rates in Talbot County
Do SBA loans in Talbot County get paid back?
- Loans with a final outcome recorded4
- Paid in full2
- Charged off2
- Status: Exempt from disclosure31
- Status: Paid in full2
- Status: Cancelled4
- Status: Charged off2
- Status: Committed, not yet disbursed5
Only 4 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Talbot County
SBA lending by place in Talbot County
- Borrower cities with recorded lending6
- Easton, approvals28
- St. Michaels, approvals10
- Royal Oak, approvals2
- McDaniel, approvals2
- Oxford, approvals1
- Trappe, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Easton | 28 | $14,786,000 |
| St. Michaels | 10 | $5,352,500 |
| Royal Oak | 2 | $90,000 |
| McDaniel | 2 | $70,000 |
| Oxford | 1 | $2,624,000 |
| Trappe | 1 | $15,000 |
Easton accounts for 28 approvals against 10 in St. Michaels. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Talbot County
How large is Talbot County?
- Land area269 sq mi
- Rank by land area among Maryland counties21st of 24
- Width, east to west24.3 mi
- Height, north to south25.6 mi
- Geographies sharing a boundary3
- Residents per square mile of land141
- Establishments per square mile5.46
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Talbot County
Flood risk in Talbot County
- Participation of the county's own NFIP community Talbot County, unincorporated areasParticipating, community 240066
- Community Rating System class of the county's own communityClass 7
- Communities in the county in the NFIP Community Status Book5
- Of those, participating in the NFIP5
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 7
- Communities carrying a CRS class2
- Radon levels in Talbot County, EPA zone predicted average indoor radon screening level less than 2 pCi/LZone 3
The county's own community in the status book, unincorporated Talbot County (community 240066), participates in the National Flood Insurance Program and carries Community Rating System class 7, a flood insurance premium discount for policies written there. The EPA places Talbot County in radon zone 3, a predicted average indoor radon screening level less than 2 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 7, which carries a flood insurance premium discount for policies written in that community. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Talbot County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Talbot County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202437,917
- Households16,433
- Average household size2.31
- Median household income$84,811
- Median age51.2
Common questions
Talbot County questions, answered from the record.
How many people live in Talbot County, Maryland?
The Census Bureau estimates 38,244 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 37,917, in 16,433 households, ranking 19th of 24 Maryland counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Talbot County's population growing?
The population has grown 1.92 percent since the 2020 census base of 37,522, to 38,244 on July 1, 2024. In 2024 there were 342 births against 584 deaths, with net migration of 418. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Talbot County?
$84,811. The median owner-occupied home is valued at $409,700, which is 4.8 times income, and median gross rent is $1,256 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Talbot County?
1,468 establishments, employing 17,567 people with an annual payroll of $965.5 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Talbot County?
Health care and social assistance is the largest private sector at 3,545 jobs, 19.5 percent of covered employment. Covered employment averages 18,220 jobs at an average annual pay of $56,684, or $1,090 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Talbot County?
44 7(a) approvals totaling $22.9 m since FY2020, across 11 lenders, with a median approval of $82,500, plus 7 504 approvals worth $5.9 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Talbot County?
104 housing units were authorized by permit in 2024, with a declared construction value of $54.1 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Talbot County?
Zone 3, a predicted average indoor radon screening level less than 2 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Talbot County come from?
The largest single origin is Dorchester County, with 110 households. Arriving households report an average income of $155,168 against $126,183 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Talbot County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Talbot County?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Talbot County
Cities and places in Talbot.
7 Census places lie wholly or partly in Talbot County. All 7 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Easton | town | 17,308 | 28 | Wholly in this county |
| St. Michaels | town | 1,240 | 10 | Wholly in this county |
| Trappe | town | 1,055 | 1 | Wholly in this county |
| Tilghman Island | CDP | 741 | None recorded | Wholly in this county |
| Oxford | town | 706 | 1 | Wholly in this county |
| Cordova | CDP | 448 | None recorded | Wholly in this county |
| Queen Anne | town | 210 | None recorded | 47.2 percent here, 52.8 percent Queen Anne's County |
A further 4 of the county's 44 SBA 7(a) approvals are to borrowers in cities that match no Census place in Talbot County, the largest being Royal Oak (2), McDaniel (2). Those are postal cities, unincorporated areas and cities outside the county, so no place row claims them; they are counted in the county total above.
Nearby