Rent, population, and median household income are important factors to consider for a 1031 exchange in Hagerstown due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan area Area
Hagerstown, Maryland is a part of the Hagerstown-Martinsburg, MD-WV metropolitan area area, and contains 6 zip codes: 21747, 21749, 21746, 21741, 21740, and 21742.
Hagerstown Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Hagerstown, MD metropolitan area area was $967, which is 10.89% lower than 2014 average rent. This represents a compounded annual growth rate of 2.09%. 2019 vacancy in Hagerstown, MD was 3.80%.
The total population of the city of Hagerstown, MD has grown 1.37% since 2010. As of 2018, the population was 40,205. The median household income of the Hagerstown was $40,531, which is 32.78% lower than the national average.
- metropolitan area area Hagerstown-Martinsburg, MD-WV
- avg rent $967
- rent growth 10.89%
- vacancy 3.80%
- median income $40,531
- population (2018) 40,205
- population growth 1.37%
- vs. nat'l avg 32.78%
- zip codes 21740 21741 21742 21746 21747 21749