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Economic Atlas
Places/MD/Carroll
County profile

Carroll

United States · GDP 2024
#489 of 3,127 US counties by GDP66th-percentile growthmore diversified than 88% of counties
EA Place Score
——
methodology in progress
GDP 2024 (USD)
$8.9B
GDP growth
+5.8%
Jobs tracked
53,981
Employers
4,279
Avg. wage
$55.5k
Population
176,677
Labor & formation
Unemployment
2.8%
Median HH income
$118.2k±$3.9k
Business applications
1,651 · 2025

Public companies headquartered here

SEC EDGAR · FMP
CompanySectorRevenueEA
1Farmers and Merchants Bancshares, Inc.Financial Services———

HQ-based placement with total (global) headcount — local employment attribution needs firmographic data; the industry mix at right is measured county data (CBP).

Industry mix · employment
Health care26%
Retail trade22%
Construction16%
Food & accommodation15%
Manufacturing11%
Professional services10%
share of top-6 sector employment · CBP 2023
Population & migration
Census PEP · 2020–2025
176,677
residents · 2025 · +2.2% since 2020
Income per capita $78.7k · BEA 2024
COMPONENTS OF CHANGE · 2021–2025
Domestic migration+3,288
International migration+996
Natural change−458

GDP trend

2019–2024 · nominal
$6.8B
2019
$6.6B
2020
$7.0B
2021
$7.8B
2022
$8.4B
2023
$8.9B
2024

Real estate & risk

FHFA · ACS · FEMA
Median home value
$434.0k±$5.5k
Median gross rent
$1.4k/mo±$44/mo
Vacancy rate
3.7%±0.6%
Affordability
7.8× wages
Residential permits
153 (0.9/1k pop)
FEMA risk score
59.5
HUD Fair Market Rent (2BR):$1.9k/mo · 2026
TOP PERILS · FEMA NRI
Strong wind 94Winter weather 86Lightning 78
FHFA HOUSE PRICE INDEX · 2016–2025
616
2016
633
2017
650
2018
669
2019
686
2020
755
2021
837
2022
884
2023
955
2024
971
2025

Transport access

BTS · FAA · USACE
Nearest interstate
18.9 km
I-795
Nearest freight rail
0.8 km
MMID
Nearest port
40.3 km
Baltimore, MD
Nearest commercial airport
52.7 km
BALTIMORE/WASHINGTON INTL THURGOOD MARSHALL
Filing activity
SEC EDGAR

7 filings from 1 company here in the last 90 days.

8-KFarmers and Merchants Bancshares, Inc.06-16
8-KFarmers and Merchants Bancshares, Inc.05-21
8-KFarmers and Merchants Bancshares, Inc.05-19
10-QFarmers and Merchants Bancshares, Inc.05-15
8-KFarmers and Merchants Bancshares, Inc.04-30
8-KFarmers and Merchants Bancshares, Inc.04-29
8-KFarmers and Merchants Bancshares, Inc.04-24
10-KFarmers and Merchants Bancshares, Inc.03-26
DEF 14AFarmers and Merchants Bancshares, Inc.03-26
8-KFarmers and Merchants Bancshares, Inc.01-29
Wage trend
BLS QCEW · 2019–2023
$55.5k
avg. annual pay · +24% since 2019
Similar US counties
nearest by GDP
Madera$8.8BOntario$8.9BLincoln$8.8BWayne$9.0BPortage$8.8BNewport$8.8B
The read

Carroll's economy produced $8.9B in 2024, growing 5.8% year over year — faster than most US counties. Its largest employment sector is health care.

GDP: BEA (2024), USD-normalized · Jobs/employers/wages & industry mix: Census CBP (2023) · Population & migration: Census PEP · Income: BEA CAINC1 · Companies: SEC EDGAR + FMP, by HQ.
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