Hagerstown, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Hagerstown Neighborhoods Since 2000




Hagerstown, MD Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Hagerstown Housing Market Information

With a population of 40,432, 16,206 total housing units (homes and apartments), and a median house value of $154,298, Hagerstown real estate values are some of the lowest in Maryland, although compared to real estate around the nation, Hagerstown homes are still considered rather expensive.

Row houses and other attached homes are the single most common housing type in Hagerstown, accounting for 30.74% of the city's housing units. Other types of housing that are prevalent in Hagerstown include single-family detached homes ( 30.60%), large apartment complexes or high rise apartments ( 25.50%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 12.89%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

People in Hagerstown primarily live in small (one, two or no bedroom) row houses and other attached homes. Hagerstown has a mixture of owner-occupied and renter-occupied housing.

The housing in Hagerstown was primarily built before 1939 ( 31.20%), making the housing stock in Hagerstown some of the oldest overall in America, although there is a range of ages of homes in Hagerstown. The next most important housing age is between 1940-1969 ( 29.71%), followed by between 1970-1999 ( 25.83%). There's also some housing in Hagerstown built between 2000 and later ( 13.25%).

Vacant housing appears to be an issue in Hagerstown. Fully 11.67% of the housing stock is classified as vacant. Left unchecked, vacant Hagerstown homes and apartments can be a drag on the real estate market, holding Hagerstown real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Hagerstown Home Appreciation Rates

Homes have actually lost value in Hagerstown over the last then years, as home values have seen a decline of 34.39% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Hagerstown home appreciation rates at -2.44%, which equates to an annual appreciation rate of -9.41%.

Over the last year, Hagerstown appreciation rates have trailed the rest of the nation. In the last twelve months, Hagerstown's appreciation rate has been 3.05%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hagerstown were at -2.44%, which equates to an annual appreciation rate of -9.41%.

Notably, Hagerstown's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Maryland, our data show that Hagerstown's latest annual appreciation rate is higher than 60% of the other cities and towns in Maryland.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Hagerstown differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hagerstown - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Hagerstown real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$154,298

Hagerstown, MD HOME PRICES

Value Range
> $1,049,000 0.6
$787,001 - $1,049,000 0.2
$525,001 - $787,000 1.0
$420,001 - $525,000 1.1
$315,001 - $420,000 3.6
$210,001 - $315,000 14.7
$105,001 - $210,000 56.7
$52,001 - $105,000 17.8
$0 - $52,000 4.1

Very Low for MD
Average for Nation

Value Relative to Nation Value Relative to State
48.2362592288761 87.7862595419847

Number Of Homes And Apartments:
16,206

Hagerstown Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
23.72% 1.24% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,015 / per month

Homeownership Rate

Homeownership
Owners 38.30
Renters 61.70
Vacant 11.67

Housing Market Details

 

Age of Homes

AGE OF Hagerstown HOMES
2000 or Newer 13.3
1970 - 1999 25.8
1940 - 1969 29.7
1939 or Older 31.2

Types of Homes

TYPE OF Hagerstown HOMES
Single-Family 30.6
Townhomes 30.7
Small Apt. Buildings 12.9
Apt. Complexes 25.5
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Hagerstown HOMES
No Bedroom 3.07
1 Bedroom 16.24
2 Bedrooms 32.24
3 Bedrooms 39.12
4 Bedrooms 6.62
5 or more bedrooms 2.71