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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Hagerstown HOMES|
|2000 or Newer||13.3|
|1970 - 1999||25.8|
|1940 - 1969||29.7|
|1939 or Older||31.2|
|TYPE OF Hagerstown HOMES|
|Small Apt. Buildings||12.9|
|SIZE OF Hagerstown HOMES|
|5 or more bedrooms||2.71|