Maryland (MD)

Capital: Annapolis

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Facts & Statistics

BY THE NUMBERS: VEHICLE FINANCING AND PERSONAL LENDING IN MARYLAND

STATE STATISTICS

Population
2025	6,265,347
2024	6,245,314
2023	6,180,253
2022	6,164,660
2021	6,174,610
2020	6,055,802
2019	6,054,954
2018	6,042,718
2017	6,024,891
2016	6,004,692
Foreclosure Rate
2026	1 of 2,369
2024	1 of 897
2021	1 of 863
2018	1 of 1,045

Below Poverty (%)
2024	9.4
2023	9.5
2022	9.6
2021	10.3
2020	9.0
2019	9.0
2018	8.0
2017	9.3
2016	9.7
Unemployed (%)
2026	4.3
2025	4.0
2024	3.2
2023	2.2
2022	5.4
2021	5.7
2020	6.3
2019	3.7
2018	3.9
2017	4.3
2016	3.8
Median Mortgage Payment ($)
2024	$2,389
2023	$2,224
2022	$2,245
2021	$2,013
2020	$2,038
2019	$2,015
2018	$1,955

Employment – Population Ratio (%)
2026	61.2
2025	62.0
2024	63.1
2023	63.4
2022	62.1
2021	60.9
2020	66.7
2019	66.0
2018	61.2
2017	64.6
2016	64.2
Median Household Income ($)
2024	$109,700
2023	$102,000
2022	$108,200
2021	$97,330
2020	$94,790
2019	$95,570
2018	$86,220
2017	$82,090
2016	$73,760
GDP
2025	436 billion
2024	433 billion
2023	421 billion
2022	413 billion
2021	407 billion
2020	389 billion
2019	403 billion
2018	402 billion
2017	400 billion
2016	392 billion

STATE FACTS
America’s national anthem was written by Francis Scott Key, a Maryland lawyer. It is believed Key wrote the anthem on September 14, 1814, while watching the bombardment of Fort McHenry in Baltimore Harbor.
The National Aquarium is located in Baltimore’s Inner Harbor.
The Maryland State House is the oldest state capitol still in continuous legislative use.

Government

ELECTED OFFICIALS
Governor	Wes Moore (D)
Lieutenant Governor	Aruna Miller (D)
Attorney General	Anthony Brown (D)
Secretary of State	Susan C. Lee (D)
State Senate Control	D – 34; R – 13
State House Control	D – 102; R – 38

State Regulators

Legislative Process

LEGISLATIVE DATES AND DEADLINES
Convenes	January 8, 2025
Sine Die Adjournment	April 7, 2025
Committee Action Deadlines	N/A
Crossover Deadline	None
Carryover from Previous Session	No
Governor’s Signing Deadline (in session)	Six days, Sundays excepted
Governor’s Signing Deadline (after adjournment)	30 days from presentment
Veto Override	3/5 majority
Legislation Effective Date	June 1 (for bills passed prior to April 17); no fewer than 31 days after passage for bills passed after April 17

Notable Laws & Legislation

SAFE Act

MD SB 269 (now Md. Code Ann. Financial Institutions, § 2 and 11)
HUD review of Maryland’s SAFE Act

HB 530 (2016)

Security Breach Notification Law

Md. Code Com. Law §§ 14-3501 et seq.
Md State Govt. Code §§ 10-1301 to -1308

Enforcement

No Recent AG Enforcement

Consumer Complaints

No Top Consumer Complaint Data Released

Regulatory Actions

Featured Regulations

No Featured Regulations

Regulatory Guidelines

Advocacy, Initiatives & Reports

AFSA Comment Letters

Maryland HB 1198 re: Coerced Debt (March 10, 2026)
Maryland Commissioner of Financial Regulation Work From Home Authorization Joint Letter (July 17, 2020)
Maryland Governor Executive Order 20-04-03-01 – Vehicle Repossessions (April 8, 2020)
Maryland HB 655 – Indirect Vehicle Financing (March 4, 2020)
Maryland review of regulations affecting sales finance licensees (October 14, 2016)
Maryland HB 289 Automatic License Plate Recognition Systems (February 4, 2014)

AFSA Testimonies

Maryland HB 29 Testimony – Interchange (January 21, 2025)
Maryland HB 1127 Testimony – Vehicle Finance Disclosures (March 13, 2019)
Maryland SB 786 Testimony – Vehicle Finance Disclosures (March 13, 2019)

Advocacy

Initiatives

Reports

Trade Associations

Mid-Atlantic Financial Services Association

Regulator Associations

American Association of Residential Mortgage Regulators (AARMR)

Conference of State Bank Supervisors (CSBS)

National Association of Consumer Credit Administrators (NACCA)

Political Geography

Map of Legislative Districts
(Click to Enlarge)

County Map
(Click to Enlarge)