Hagerstown Maryland Residential Rent and Rental Statistics
The median monthly gross residential rent in Hagerstown, MD (the Hagerstown-Martinsburg metro area) was $924 in 2019 according to the Census ACS survey.1 Average gross rent in Hagerstown was $889 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Hagerstown median and average rent data will be released in September of 2021.
Data is also available below for Hagerstown rental vacancy rates, Hagerstown rent as a percent of median income and the fraction of renters in Hagerstown.
Real Gross Rent in Hagerstown Maryland (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Maryland Median Gross Rent | $1,401 | +0.36% | +1.82% |
| Hagerstown, MD Median Gross Rent | $924 | -2.94% | -5.23% |
Hagerstown, MD Real Gross Rent Trends
Median gross rent for Hagerstown peaked in real terms in 2016 at $975 and is now $51 (5.23%) lower. Average gross rent for Hagerstown peaked in real terms in 2015 at $947 and is now $58 (6.12%) lower.
Real Gross Rent in Hagerstown: Hagerstown MD Median, Hagerstown MD Average, Maryland Median, US Median
Real Gross Rent History for Hagerstown
| Date | US Median |
Maryland Median |
Hagerstown, MD Median |
Hagerstown, MD Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,401 | $924 | $889 |
| 2018 | $1,077 | $1,396 | $952 | $890 |
| 2017 | $1,043 | $1,379 | $952 | $903 |
| 2016 | $1,027 | $1,376 | $975 | $915 |
| 2015 | $1,017 | $1,356 | $955 | $947 |
| 2014 | $986 | $1,311 | $872 | $852 |
| 2013 | $953 | $1,274 | $926 | $864 |
| 2012 | $940 | $1,245 | $895 | $899 |
| 2011 | $941 | $1,245 | $871 | $851 |
| 2010 | $955 | $1,264 | $793 | $817 |
| 2009 | $960 | $1,263 | $867 | $858 |
| 2007 | $927 | $1,175 | $852 | $829 |
| 2005 | $910 | $1,114 | $819 | $781 |
Hagerstown Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Hagerstown Maryland was 5.70% according to Census ACS data.
Rental Vacancy Rate in Hagerstown Maryland
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Maryland | 6.29% | -0.27% | +0.75% |
| Hagerstown, MD | 5.70% | +1.11% | +1.56% |
Trends in Hagerstown, MD Rental Vacancy Rate
The rental vacancy rate in Hagerstown peaked in 2009 at 10.05%. Since then it has fallen by 4.35% to 5.70%. Data records for this series originated in 2005.
Rental Vacancy Rate: Hagerstown MD, Maryland, US
Historical Rental Vacancy Rate data for Hagerstown
| Date | US | Maryland | Hagerstown, MD |
|---|---|---|---|
| 2019 | 5.97% | 6.29% | 5.70% |
| 2018 | 6.15% | 6.56% | 4.59% |
| 2017 | 6.18% | 5.94% | 6.51% |
| 2016 | 5.89% | 5.54% | 4.14% |
| 2015 | 5.85% | 5.65% | 3.99% |
| 2014 | 6.32% | 6.83% | 7.30% |
| 2013 | 6.49% | 6.96% | 4.88% |
| 2012 | 6.77% | 6.99% | 7.77% |
| 2011 | 7.40% | 7.10% | 6.50% |
| 2010 | 8.17% | 7.53% | 7.97% |
| 2009 | 8.43% | 9.09% | 10.05% |
| 2007 | 7.87% | 8.78% | 9.00% |
| 2005 | 7.74% | 6.14% | 3.80% |
Rent as a Fraction of Income
Using median household income data for Hagerstown, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Hagerstown, median monthly gross rent as a fraction of median household income was 18.45% in 2019 according to the ACS.
Hagerstown Maryland Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Maryland | 19.38% | -0.38% | -0.59% |
| Hagerstown, MD | 18.45% | +0.13% | -1.55% |
Trends in Hagerstown, MD Rent as a Fraction of Income
The fraction of median Hagerstown household income required to pay median monthly gross rent peaked in 2016 (relative to the 2005 series origin) at 20.00%. Since then it has fallen by 1.55% to 18.45%.
Fraction of Income towards Rent: Hagerstown MD, Maryland, US
Historical Data for Annual Rent as a Fraction of Income in Hagerstown Maryland
| Date | US | Maryland | Hagerstown, MD |
|---|---|---|---|
| 2019 | 20.03% | 19.38% | 18.45% |
| 2018 | 20.50% | 19.76% | 18.32% |
| 2017 | 20.13% | 19.86% | 18.52% |
| 2016 | 20.43% | 19.97% | 20.00% |
| 2015 | 20.63% | 20.22% | 19.59% |
| 2014 | 20.89% | 20.15% | 17.53% |
| 2013 | 20.78% | 20.03% | 18.69% |
| 2012 | 20.65% | 19.74% | 19.64% |
| 2011 | 20.70% | 19.76% | 19.04% |
| 2010 | 20.50% | 19.71% | 16.86% |
| 2009 | 20.12% | 19.19% | 18.77% |
| 2007 | 18.66% | 17.63% | 16.85% |
| 2005 | 18.89% | 17.36% | 16.68% |
Renter Fraction in Hagerstown Maryland
You can calculate the renter fraction in Hagerstown in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Hagerstown as a fraction of total Hagerstown households. In 2019 30.72% of households were renters according to Census ACS data.
Hagerstown Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Maryland | 33.17% | +0.08% | -0.94% |
| Hagerstown, MD | 30.72% | -0.95% | +1.22% |
Trends in the Hagerstown, MD Renter Fraction
The Hagerstown household renter fraction peaked in in 2013 at 33.63% and is now 2.91% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Hagerstown MD, Maryland, US
History of Hagerstown Renter Fraction
| Date | US | Maryland | Hagerstown, MD |
|---|---|---|---|
| 2019 | 35.89% | 33.17% | 30.72% |
| 2018 | 36.05% | 33.09% | 31.67% |
| 2017 | 36.13% | 33.29% | 32.12% |
| 2016 | 36.88% | 34.11% | 29.50% |
| 2015 | 36.97% | 34.06% | 31.31% |
| 2014 | 36.90% | 34.11% | 30.83% |
| 2013 | 36.50% | 33.53% | 33.63% |
| 2012 | 36.09% | 33.54% | 32.86% |
| 2011 | 35.42% | 32.66% | 31.78% |
| 2010 | 34.65% | 32.96% | 30.63% |
| 2009 | 34.13% | 31.44% | 29.89% |
| 2007 | 32.80% | 30.08% | 29.44% |
| 2005 | 33.10% | 31.02% | 28.00% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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