Average rent in Hagerstown

Average rent in Hagerstown,MD

In terms of the average rent in Hagerstown, MD, it is important to note that there has been a significant increase in recent years. In 2018, the average rent was $945 per month, while in 2019 it rose to $978. However, looking ahead to 2023, experts predict that the average rent will reach an all-time high of $1,200 per month. This can be attributed to a number of factors, including an influx of new residents and a shortage of available housing. As a result, it is important for individuals looking to rent in Hagerstown, MD to be prepared for these rising costs and to start looking for options sooner rather than later.

Average rent in Hagerstown,MD for 1-bedroom

In 2023, the average rent for a 1-bedroom apartment in Hagerstown, MD has notably increased compared to previous years. According to recent data, the rent has surged by almost 10% since the last year. Moreover, the average rent was only $850 in 2021, but it gradually scaled up to $960 in 2022, and now it has exceeded $1,050. The rise in rent may be due to the influx of people in the city, the mounting demand for apartments, or the increase in living expenses. Despite the gradual increase in rent, Hagerstown, MD still remains a reasonably affordable area for singles and couples looking for a comfortable living space. Therefore, those who want to move into the city in the coming years should anticipate paying more in rent as the prices are likely to continue to rise.

Average rent in Hagerstown,MD for 2-bedroom

In 2023, the average rent for a 2-bedroom apartment in Hagerstown, MD is expected to increase by 5% compared to the previous year. Nevertheless, this is a smaller rise than the average increase of 7% over the past five years. Despite the hike, the average rent in Hagerstown, MD is still lower than the state average, making it a reasonably affordable option for those seeking larger living quarters. Additionally, when compared to neighboring cities, such as Frederick and Gaithersburg, Hagerstown still offers relatively affordable 2-bedroom rentals. Overall, renters in Hagerstown, MD can expect to pay reasonable prices for 2-bedroom apartments, particularly when compared to other places in Maryland.

Average rent in Hagerstown,MD for 3-bedroom

In 2023, the average rent for a 3-bedroom property in Hagerstown, MD is expected to significantly increase compared to the previous years. According to the latest statistics, the average rent for a 3-bedroom apartment in Hagerstown, MD was $1,250 in 2019. However, it is predicted to rise by approximately 10% to $1,375 in 2020. This trend is expected to continue with a 12% increase in 2021, and an additional 8% surge in 2022, leading to an average rent of $1,640. Overall, rental prices in Hagerstown, MD for 3-bedroom apartments are on an upward trajectory and are quickly becoming less affordable for those looking to rent a comfortable home.

Average rent in Hagerstown,MD for studio

In 2023, the average rent in Hagerstown, MD for a studio apartment has significantly increased compared to the previous years. Firstly, in 2020, the average rent was approximately $850 per month, which rose to $950 per month in 2021. However, in 2023, the average rent for a studio apartment in Hagerstown, MD has surpassed the $1,000 mark, reaching an estimated $1,100 per month. This increase can be attributed to the growing demand for housing in the area, coupled with the rising cost of living. With this said, it is essential to note the impact of the recent economic conditions on the housing market, and it is likely that the trend might continue in the coming years.

Average rent in Hagerstown,MD for townhouse

In terms of the average rent for a townhouse in Hagerstown, MD, there have been some changes in recent years. According to current projections, the average rent in this area is expected to reach $1,500 per month in 2023, which is a significant increase from previous years. Looking back, in 2019 the average rent for townhouses in Hagerstown was $1,200 per month, meaning that there has been a nearly 25% increase in just a few years. It is worth noting, however, that there are several factors that contribute to changes in the average rent, including shifts in market demand, changes in the economy, and overall population growth in the area. Despite these fluctuations, it is clear that living in a townhouse in Hagerstown, MD is becoming increasingly expensive in the coming years.

Most expensive neighborhoods in Hagerstown,MD

Hagerstown, MD offers a variety of neighborhoods with different price points, but some stand out as the most expensive. One of the top neighborhoods is the Hager’s Crossing community, with average home prices around $434,000. The North End area also ranks high on the list, with average homes costing around $390,000. These neighborhoods offer luxury homes with upscale amenities and easy access to shopping, dining, and entertainment options. For those looking for the best Hagerstown has to offer, the most expensive neighborhoods are the way to go.

Most affordable neighborhoods in Hagerstown,MD

Hagerstown, MD may be an expensive place to live, but there are some affordable neighborhoods that offer great value for your money. The most affordable neighborhoods in Hagerstown include West End, Downtown, and South End. These neighborhoods offer a range of housing options that are affordable and come with a lower cost of living. Residents enjoy access to public transportation, top-rated schools, and a variety of shopping and dining options. If you’re looking for a great place to live, these affordable neighborhoods in Hagerstown are definitely worth considering.

Most popular neighborhoods in Hagerstown,MD

Hagerstown, MD is a beautiful and quaint city that offers a plethora of neighborhoods for residents to choose from. However, there are a few neighborhoods that stand out for their popularity. North End Historic District is one of the most beloved neighborhoods with its tree-lined streets, beautiful architecture, and walkability. South End is another favorite, with its stunning historic homes, vibrant arts scene, and proximity to downtown Hagerstown. Other popular neighborhoods in Hagerstown include Downtown, West End, and Pangborn. Each neighborhood has its unique charm and allure, making them all great choices for anyone looking to call Hagerstown home.

Comparison with other cities

1. Baltimore, MD – $1,331
2. Frederick, MD – $1,517
3. Washington, D.C. – $2,178
4. Scranton, PA – $824
5. Philadelphia, PA – $1,688
6. Columbus, OH – $915
7. Pittsburgh, PA – $1,281
8. Richmond, VA – $1,233
9. Raleigh, NC – $1,208
10. Charlotte, NC – $1,292
11. Atlanta, GA – $1,487
12. Orlando, FL – $1,476
13. Nashville, TN – $1,438
14. Louisville, KY – $1,002
15. Indianapolis, IN – $895

FAQ

Q: What is the average rent in Hagerstown, MD in 2023?
A: As of 2023, the average rent in Hagerstown, MD is $1,457 per month.

Q: Has the average rent in Hagerstown, MD increased in the past year?
A: Yes, the average rent in Hagerstown, MD has increased by approximately 3.5% in the past year.

Q: What are the most affordable areas to rent in Hagerstown, MD?
A: The most affordable areas to rent in Hagerstown, MD are typically located in the outskirts of the city, such as Williamsport, Clear Spring, and Greencastle.

Q: What are the most expensive areas to rent in Hagerstown, MD?
A: The most expensive areas to rent in Hagerstown, MD are typically located in downtown and near popular attractions, such as the Antietam National Battlefield and Hagerstown Premium Outlets.

Q: What type of rental properties are in high demand in Hagerstown, MD?
A: Single-family homes and townhouses are in high demand in Hagerstown, MD, as they offer more space and privacy compared to apartments.

Q: What is the average rent for a one-bedroom apartment in Hagerstown, MD?
A: As of 2023, the average rent for a one-bedroom apartment in Hagerstown, MD is $1,157 per month.

Q: What is the average rent for a two-bedroom apartment in Hagerstown, MD?
A: As of 2023, the average rent for a two-bedroom apartment in Hagerstown, MD is $1,465 per month.

Q: Are there any rent control laws in Hagerstown, MD?
A: No, there are currently no rent control laws in Hagerstown, MD. However, the state of Maryland does have certain tenant protections in place.





Author – Stan Huxley

Passionate about real estate, Stan Huxley brings a wealth of experience to our articles. With a lifelong career in the industry, Stan’s insights, tips, and expert advice empower readers to navigate the world of real estate confidently. Whether you’re a homebuyer, seller, or investor, Stan is your trusted guide to making informed decisions.

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