New Market is a tiny town located in the state of Maryland. With a population of 738 people and two constituent neighborhoods, New Market is the 241st largest community in Maryland. Much of the housing stock in New Market was built relatively recently. The construction of new real estate can often be taken as an indication that the local New Market economy is robust, and that jobs or other amenities are attracting an influx of new residents. This seems to be the case in New Market, where the median household income is $125,250.00.
Housing costs in New Market are among some of the highest in the nation, although real estate prices here don't compare to real estate prices in the most expensive communities in Maryland.
New Market is a decidedly white-collar town, with fully 87.20% of the workforce employed in white-collar jobs, well above the national average. Overall, New Market is a town of managers, professionals, and sales and office workers. There are especially a lot of people living in New Market who work in management occupations (20.24%), sales jobs (10.57%), and office and administrative support (9.23%).
Of important note, New Market is also a town of artists. New Market has more artists, designers and people working in media than 90% of the communities in America. This concentration of artists helps shape New Market’s character.
Telecommuters are a relatively large percentage of the workforce: 9.19% of people work from home. While this number may seem small overall, as a fraction of the total workforce it is high relative to the nation. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.
In addition, New Market is home to many people who could be described as "urban sophisticates". Urban sophisticates are educated, wealthy, executives and professionals, who have urbane tastes in books, food, and travel, whether they actually live in a big city, or choose to reside in a small town. In big or medium-sized cities, urban sophisticates tend to frequent art institutions such as opera, symphonies, ballet, live theatre, and museums.
Because of many things, New Market is a great place for families with children to consider. First of all, many other families with children live here, making New Market a place where both parents and children are more likely to develop social ties with other families, as well as find family-oriented services and community. The town’s good public school district and large population of college-educated adults provide an environment conducive to academic values. With regard to real estate, New Market has a high rate of owner-occupied single family homes, which tends to reflect stability in the local community. Finally, New Market’s overall crime rate is lower than average for the country.
One downside of living in New Market, however, is that residents on average have to contend with a long commute, spending on average 38.51 minutes every day commuting to work.
The education level of New Market ranks among the highest in the nation. Of the 25-and-older adult population in New Market, 49.94% have at least a bachelor's degree. The typical US community has just 21.84% of its adults holding a bachelor's degree or graduate degree.
The per capita income in New Market in 2018 was $40,896, which is upper middle income relative to Maryland, and wealthy relative to the rest of the US. This equates to an annual income of $163,584 for a family of four.
New Market is a very ethnically-diverse town. The people who call New Market home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of New Market residents report their race to be White, followed by Black or African-American. New Market also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 15.52% of the town’s residents. Important ancestries of people in New Market include German, Irish, Italian, Polish, and English.
The most common language spoken in New Market is English. Other important languages spoken here include Spanish and Polish.