Investment metrics, interactive calculators, and data-driven analysis for Hagerstown rental properties.
Pre-filled with Hagerstown medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Hagerstown.
Hagerstown, MD has a population of 44,000 and has been growing at 0.5% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $225,000 paired with median rents of $1,200/mo produces an estimated cap rate of 4.16%.
Property taxes at 1.06% fall within the national average range and shouldn't present unusual challenges. The vacancy rate of 6% is moderate and within normal parameters for a healthy rental market.
At a price-to-income ratio of 5.1x, homes cost about 5.1 times the local median income of $44,200. This moderate ratio indicates a balanced rent-vs-buy market. Home values have appreciated at roughly 2.5% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Hagerstown presents moderate opportunities. Cap rates near 4.16% mean deals need careful sourcing — look for value-add rehabs or emerging neighborhoods where rents are climbing.