Total monthly cost of ownership
Cost to Own a Home in Hagerstown, Maryland
A $208,000 home here costs
$1,842per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $79,000 a year.
A standard mortgage calculator would have told you $1,134. The real number is $708 higher every month, 62% more than the payment most buyers budget for.
Compare Washington County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Hagerstown against Washington County and Maryland
| Measure | Hagerstown | Washington County |
|---|---|---|
| Median home value | $207,700 | $275,900 |
| Median property tax | $2,590 | $2,444 |
| Effective tax rate | 1.247% | 0.886% |
| Median gross rent | $1,041 | $1,100 |
| Population | 43,490 | 155,033 |
The weather behind that power bill
Hagerstown sits in Washington County, which averages a high of 87.3°F in its hottest month and a low of 25.3°F in its coldest, with 35.6" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,248 cooling and 4,716 heating degree days, which is what sets the $199 electricity line above.
See the full climate breakdown for Washington County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Washington County
Full Washington County cost breakdown · Every county in Maryland
Talk to someone who works this market
These are Hagerstown averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Hagerstown every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Hagerstown I already own here and may sell
Common questions
How much does it cost to own a home in Hagerstown?
A $208,000 home in Hagerstown, Maryland costs approximately $1,842 per month with 20% down at 7.24%. That is $1,134 principal and interest, $216 property tax, $52 homeowners insurance, $267 utilities and $173 set aside for maintenance.
What is the property tax rate in Hagerstown?
Hagerstown has an effective property tax rate of 1.247%, based on a median home value of $207,700 and median real estate taxes of $2,590. That is higher than the Washington County average of 0.886%.
What is the average home price in Hagerstown?
The median owner-occupied home value in Hagerstown, Maryland is $207,700, against $275,900 across Washington County.
Is it cheaper to rent or buy in Hagerstown?
Median gross rent in Hagerstown is $1,041 a month, against $1,842 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Hagerstown?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Hagerstown, Maryland at today's rate takes a household income of roughly $79,000 a year. That covers the full $1,842 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Hagerstown, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Maryland.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.