Hagerstown, MD—21740
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hagerstown, MD
As of Oct '25, the median home price in Hagerstown, MD is $288,000, with a year-over-year change of 1.9%. This indicates that home prices in Hagerstown, MD are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $288,000 | 2.0% |
| Single Family | $291,000 | 1.7% |
| Condos | $177,000 | 0.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $145,000 | -8.8% |
2 Bed | $219,000 | 1.9% |
3 Bed | $284,000 | 2.2% |
4 Bed | $389,000 | 2.6% |
| 5 Bed | $454,000 | 2.3% |
% of Housing Stock
Rental Trends — Hagerstown, MD
As of July '25, Rentcast reports the average rent in Hagerstown, MD is $1,500, with a year-over-year rent change of 7.9%. Per bedroom, the median rent as of July '25 in Hagerstown, MD is studios: $924, 1-bedrooms: $1,050, 2-bedrooms: $1,340, 3-bedrooms: $1,840, 4-bedrooms: $2,650. The most common rental property sizes in Hagerstown, MD are 2-bedroom and 3-bedroom, accounting for 34.1% and 28.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,350 | $1,500 |
| Studio Rent | $950 | $924 |
| 1 Bed Rent | $980 | $1,050 |
| 2 Bed Rent | $1,280 | $1,340 |
| 3 Bed Rent | $1,800 | $1,840 |
| 4 Bed Rent | $2,350 | $2,650 |
% of Rental Stock
Property Listings — Hagerstown, MD
As of Oct '25, Realtor.com reports that the median days on market for a home in Hagerstown, MD is 36. This is a decrease of -5.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 37.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $315,000 | 6.0% |
Listing Count | 224 | 21.0% |
| Listings as % of Homes | 0.7% | 21.0% |
Days on Market | 36 | -5.0% |
Demographics — Hagerstown, MD
As of the latest ACS Survey released in 2023, Hagerstown, MD has a population of 63,100, which has increased by 2.2% over the past 5 years. Hagerstown, MD is a moderately popular place for families, as children make up 22.2% of the population. The area has a poorly educated workforce, with 20.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 63,100 | 2.2% |
% Under 18 | 22.2% | -2.2% |
% Seniors | 16.3% | 11.6% |
% WFH | 10.1% | 140.5% |
% w/ College Degree | 20.1% | 20.4% |
As of the latest ACS Survey released in 2023, Hagerstown, MD is a predominantly white area, with 64.3% of the population identifying as white. The white population has shrunk by 9.3% in the last 5 years. The second most common race or ethnicity in Hagerstown, MD is black, making up 18.1% of the population. Foreign-born residents account for 8.5% of the population in Hagerstown, MD, and this percentage has increased by 46.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 64.3% | -9.3% |
% Black | 18.1% | 14.6% |
% Hispanic | 9.9% | 41.4% |
% Asian | 1.8% | 0.0% |
% Foreign Born | 8.5% | 46.6% |
Mortgage and Risk — Hagerstown, MD
According to HUD data as of 2023, there were 1259 mortgage originations in Hagerstown, MD, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 44.0% above 90% LTV (very high). This implies large mortgage risk in Hagerstown, MD. Investor activity is low, as 4.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,259 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Hagerstown, MD
As of 2024, the percent of homes in Hagerstown, MD under the Section 8 program is 14.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Hagerstown, MD, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 2,644 |
Total Units Section 8 | 1,571 |
% Rentals under Section 8 | 14.1% |
% Occupied Section 8 | 84.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$70 | $980 | $910 |
| 2 Bedroom | -$80 | $1,280 | $1,200 |
| 3 Bedroom | -$150 | $1,800 | $1,650 |
| 4 Bedroom | -$510 | $2,350 | $1,840 |
Affordability — Hagerstown, MD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $288,000 |
| Median Household Income | $59,400 |