Real Estate Investing in Hagerstown, Maryland (21740)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 21740 (Hagerstown, MD)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.1% vacancy may signal weakening demand.
What’s happening in Hagerstown, MD (21740)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 21740 Hagerstown
Investors eyeing 21740 need to respect the fundamentals at play. Home values of $292K come alongside slower price movement and elevated management overhead.
Distressed markets are won on execution, not on spreadsheets. ZIP 21740 posts the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Regionally, 21740 sits on the difficult end of the MD spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
Demographically, 21740 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The 21740 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Hagerstown:
Property Strategy for 21740
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $144,999 | $950 | 4.7% | +4.9% | $144,999 |
| 2BR | $219,052 | $1,240 | 4.1% | +9.7% | $109,526 |
| 3BR | $283,875 | $1,670 | 4.2% | +9.0% | $94,625 |
| 4BR | $389,041 | $1,870 | 3.5% | +8.0% | $97,260 |
| 5BR | $454,185 | — | — | +8.0% | $90,837 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 21740 Compare?
| Metric | 21740 | Hagerstown | Maryland |
|---|---|---|---|
| Home Value | $292,157 | $97,386 | $424,997 |
| 5-Year CAGR | 5.3% | 5.3% | 4.9% |
| Avg Rent | $1,277 | $1,277 | - |
| Cap Rate | 3.4% | 3.4% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 21740 (Hagerstown, MD). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 21740 (Hagerstown, MD)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $292,157 |
| Monthly Rent | $1,277 |
| Price-to-Rent | 19.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.4% |
| 5-Year IRR | 8.7% |
📈 Home Appreciation
| 1-Year | +1.9% ▲ |
| 3-Year CAGR | +3.8% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | +6.0% ▲ |
🏠 Rent Trends
| 1-Year | +4.0% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +6.8% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 21740
Population: 63,140
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 21740
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,844 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What type of investing works in Hagerstown, MD?
A careful cash-flow rentals with hands-on management strategy Hagerstown, MD best. The market produces steady results for that approach at the $292K price point.
Are rents high in Hagerstown, MD?
Hagerstown, MD rentals go for roughly $1,277/mo a month. That puts gross yield in solid territory relative to $292K acquisition costs.
Where do home prices stand in Hagerstown, MD?
Hagerstown, MD median home values land near $292K. That is reasonable territory for investors looking at $1,277/mo-per-month rentals.
What is it like being a landlord in Hagerstown, MD?
MD law landlord-friendly for landlords, and Hagerstown inherits those rules. Investors should still review local ordinances for rental licensing.
What are vacancy rates like in Hagerstown, MD?
Vacancy in Hagerstown, MD is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,277/mo.
You know 21740 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 21740 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 21740 ranks in Hagerstown-Martinsburg, MD-WV
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 21740 (Hagerstown)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 21740 (Hagerstown, MD).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.