Department of Numbers

Hagerstown Maryland Residential Rent and Rental Statistics

The median monthly gross residential rent in Hagerstown, MD (the Hagerstown-Martinsburg metro area) was $900 in 2015 according to the Census ACS survey.1 Average gross rent in Hagerstown was $893 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Hagerstown median and average rent data will be released in September of 2017.

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.

Show dollars as: Nominal Real

Real Gross Rent in Hagerstown Maryland (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Maryland Median Gross Rent $1,278 +3.40% +8.95%
Hagerstown, MD Median Gross Rent $900 +9.49% +6.76%

Hagerstown, MD Real Gross Rent Trends

At $900, real median gross rent in Hagerstown was at its highest level in 2015 since the series began in 2005. At $893, real average gross rent in Hagerstown was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Hagerstown: Hagerstown MD Median, Hagerstown MD Average, Maryland Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Hagerstown

Date US
Median
Maryland
Median
Hagerstown, MD
Median
Hagerstown, MD
Average
2015 $959 $1,278 $900 $893
2014 $930 $1,236 $822 $803
2013 $898 $1,201 $873 $814
2012 $886 $1,173 $843 $847
2011 $887 $1,174 $821 $802
2010 $901 $1,191 $748 $770
2009 $905 $1,190 $818 $809
2008 $920 $1,199 $824 $843
2007 $874 $1,107 $803 $782
2006 $883 $1,103 $770 $736
2005 $858 $1,050 $772 $737

Hagerstown Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Hagerstown Maryland was 3.99% according to Census ACS data.

Rental Vacancy Rate in Hagerstown Maryland

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Maryland 5.65% -1.18% -1.34%
Hagerstown, MD 3.99% -3.31% -3.78%

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 6.06% to 3.99%. Data records for this series originated in 2005.

Rental Vacancy Rate: Hagerstown MD, Maryland, US

Rental vacancy rate in Maryland

Historical Rental Vacancy Rate data for Hagerstown

Date US Maryland Hagerstown, MD
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%
2008 7.86% 8.81% 9.36%
2007 7.87% 8.78% 9.00%
2006 7.70% 7.64% 2.89%
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 19.59% in 2015 according to the ACS.

Hagerstown Maryland Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Maryland 20.22% +0.07% +0.48%
Hagerstown, MD 19.59% +2.05% -0.05%

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 2012 (relative to the 2005 series origin) at 19.64%. Since then it has fallen by 0.05% to 19.59%.

Fraction of Income towards Rent: Hagerstown MD, Maryland, US

Percent of median household income going towards median monthly gross rent in Hagerstown Maryland

Historical Data for Annual Rent as a Fraction of Income in Hagerstown Maryland

Date US Maryland Hagerstown, MD
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%
2008 19.00% 18.27% 17.53%
2007 18.66% 17.63% 16.85%
2006 18.90% 17.55% 15.52%
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 2015 31.31% of households were renters according to Census ACS data.

Hagerstown Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Maryland 34.06% -0.05% +0.52%
Hagerstown, MD 31.31% +0.48% -1.55%

Trends in the Hagerstown, MD Renter Fraction

The Hagerstown household renter fraction peaked in in 2013 at 33.63% and is now 2.32% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Hagerstown MD, Maryland, US

Fraction of renters in Hagerstown

History of Hagerstown Renter Fraction

Date US Maryland Hagerstown, MD
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%
2008 33.36% 30.53% 30.43%
2007 32.80% 30.08% 29.44%
2006 32.73% 30.57% 31.19%
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.