Mortgage payment estimates, closing cost breakdowns, and homebuying data for Hagerstown, Maryland.
Median Home Price
$265K
Population
44K
Avg Monthly Rent
$1,220
Property Tax Rate
1.09% *
* Property tax shown is the Maryland state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Hagerstown.
Hagerstown vs Maryland Median
The median home price in Hagerstown is $265,000, which is 37% below the Maryland state median of $420,000.
Mortgage Calculator — Hagerstown, MD
Pre-filled with Hagerstown median home price and Maryland tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $265K home using Maryland's 1.09% tax rate and $1,700/yr insurance.
5% Down
$2,120/mo
Down: $13,250
Loan: $252K
P&I: $1,591
Tax: $241
Insurance: $142
PMI: $147
10% Down
$2,029/mo
Down: $26,500
Loan: $239K
P&I: $1,507
Tax: $241
Insurance: $142
PMI: $139
20% Down (No PMI)
$1,722/mo
Down: $53,000
Loan: $212K
P&I: $1,340
Tax: $241
Insurance: $142
Income needed (28% rule): $74K/year with 20% down, $87K/year with 10% down.
Rent vs Buy in Hagerstown
Rent
$1,220/mo
vs
Buy (10% down)
$2,029/mo
Price-to-rent ratio: 18.1 — A ratio between 15-20 means the rent vs buy decision in Hagerstown depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Hagerstown is $265,000, 37% below the Maryland state median of $420,000. With a population of 44,371, Hagerstown is a smaller market where home prices tend to be more accessible than in many parts of Maryland.
Property taxes in Maryland average 1.09% annually. This moderate property tax rate means a $265,000 home in Hagerstown would carry roughly $241/month in property taxes. Homeowners insurance in Maryland runs approximately $1,700 per year. This is within the normal range nationally.
Average rent in Hagerstown is $1,220/month. The price-to-rent ratio in Hagerstown is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Hagerstown presents moderate affordability. The $265K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Hagerstown.