Hagerstown, Maryland Housing Market Prices
Hagerstown Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 48% below the Maryland median$139,875
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Median rent 38% below the Maryland median$1,058
Housing Market Overview
| Metric | Hagerstown | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $139,875 | $267,101 | $248,835 |
| Price Trend (Annual %) | 1.3% | 3.4% | 7.5% |
| Median Gross Rent | $1,058 | $1,704 | $1,407 |
| Rent Trend (Annual %) | 4.0% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hagerstown is about 48% lower than in Maryland. Rent is about 38% lower than the Maryland average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Hagerstown, up about 1.3% and 4.0% a year respectively. Rent is changing faster.
Median rent in Hagerstown rose about 39.1% between 2015 and 2024, from $761 to $1,058. Over the same span, rent in Maryland rose about 38.7%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Hagerstown.
Buying the median-priced home in Hagerstown costs roughly 11.0 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Hagerstown. The price-to-rent ratio in Maryland is about 13.1.
| Metric | Hagerstown | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $139,875 | $267,101 | $248,835 |
| Median Household Income | $52,965 | $103,916 | $80,455 |
| Price-to-Income Ratio | 2.6 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Hagerstown fell about 13.2%, while median household income rose about 30.8% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Hagerstown | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.9% | 62.4% | 58.5% |
| Rental Rate | 49.3% | 29.9% | 31.2% |
| Vacancy Rate | 7.8% | 7.7% | 10.2% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
Hagerstown has a homeownership rate of 42.9%, lower than the Maryland average of 62.4%. Its housing vacancy rate is 7.8%, compared with 7.7% in Maryland.
Housing Stock
| Metric | Hagerstown | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.57 people | 2.53 people |
| Median Structure Built Year | 1956 | 1977 | 1978 |
| Median Number of Rooms | 5.4 | 6.2 | 5.5 |
The typical housing unit in Hagerstown was built around 1956. On average, 2.3 people live in a home with about 5.4 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Hagerstown, Maryland.
What is the median home price in Hagerstown, Maryland?
The median home price in Hagerstown, Maryland is $139,875, lower than the Maryland average of $267,101.
What is the average home price in Hagerstown, Maryland?
The typical home price in Hagerstown, Maryland, reported as the median sale price, is $139,875. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Hagerstown, Maryland?
The median gross rent in Hagerstown, Maryland is $1,058 per month, lower than the Maryland average of $1,704.
What was the median gross rent in Hagerstown in 2020?
In 2020, the median gross rent in Hagerstown, Maryland was $828 per month.
What is the price-to-rent ratio in Hagerstown, Maryland?
The price-to-rent ratio in Hagerstown, Maryland is about 11.0, meaning it would take roughly 11.0 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Hagerstown.
Are home prices or rent rising faster in Hagerstown, Maryland?
Both home prices and rent are rising in Hagerstown, up about 1.3% and 4.0% a year respectively. Rent is changing faster.
What is the homeownership rate in Hagerstown, Maryland?
42.9% of households in Hagerstown, Maryland own their home, lower than the Maryland average of 62.4%.
What is the vacancy rate in Hagerstown, Maryland?
The housing vacancy rate in Hagerstown, Maryland is 7.8%, higher than the Maryland average of 7.7%.
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