Commercial Real Estate Market in Hagerstown, MD
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
237 active listings and 2,535 off-market properties in Hagerstown, MD. Commercial property asks $124/SF to buy and $15.90/SF/Yr to lease.
Market Trends
Hagerstown, MD spans 117.6 square miles in Washington County, Maryland. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Hagerstown, MD runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Retail
Retail vacancy in Hagerstown, MD runs 5.4% across the South region in 2025, down from 7% in 2020.
Industrial
Industrial vacancy in Hagerstown, MD runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Multifamily
Across Washington County, multifamily space asks $133/SF to buy. Multifamily vacancy in Hagerstown, MD runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 34.7%
- Commercial 22.5%
- Industrial 21.4%
- Civic 11.4%
- Mixed use 9.5%
- Agricultural 0.5%
Largest Zones share of zoned land by district
Hagerstown, MD zones 7,221 acres across 15 districts. Commercial zoning covers 22.5% of zoned land, residential 34.7% and industrial 21.4%. The largest single district is Residential Moderate Density at 20.2%. For commercial buyers the practical constraint is that only 43.9% of land carries a commercial or industrial designation.
The purpose of this zoning district is to provide areas for moderate density residential development.
Market overview
Demographics & Economy
Hagerstown, MD has 101,549 residents in 41,102 households. Density runs 863 people per square mile. Median household income here is $66,488 and median gross rent $1,110 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Williamsport | $148 | — |
| Smithsburg | $171 | — |
Commercial property in Hagerstown, MD asks $124/SF. The 2 bordering markets run from $148/SF in Williamsport to $171/SF in Smithsburg, and the city sits below their $159/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Hagerstown?
How much does it cost to lease commercial space in Hagerstown?
How does Hagerstown compare to nearby markets on price?
What zoning applies to commercial property in Hagerstown?
Where does Realmo's Hagerstown market data come from?
Methodology & data sources
- Asking prices and medians
- There are 153 active for-sale and 84 active for-lease listings in Hagerstown, MD. The medians are based on 86 of the for-sale and 18 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 7,221 zoned acres across 15 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
