Commercial Real Estate Market in Hagerstown, MD
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
275 active listings and 2,535 off-market properties in Hagerstown, MD. Commercial property asks $51/SF to buy and $16.32/SF/Yr to lease.
Market Trends
Hagerstown, MD spans 117.6 square miles in Washington County, Maryland. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Hagerstown, MD runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Hagerstown, MD runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
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%.
Vacancy Rate % in South region
Multifamily
Multifamily space in Hagerstown, MD asks $136/SF to buy. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
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
Residential Moderate Density
Residential Medium Density
Industrial General
Institutional
Commercial General
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.
Residential Moderate Density (RMOD)
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.
101,549
Population
41,102
Households
2.5
Avg Household Size
39
Median Age
23%
College-Educated
87%
High-School Grad
117.6 sq mi
ZIP Area
863
Density / Sq Mi
$66,488
Median Household Income
$43,351
Median Earnings
$1,110
Median Rent
$254,501
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Funkstown | — | — |
| Maugansville | — | — |
| Chewsville | — | — |
| State Line | — | — |
Commercial property in Hagerstown, MD asks $51/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Hagerstown?
Commercial property in Hagerstown, MD asks an average of $51 per square foot. The 4 most recent recorded sales traded at a median of $116/SF. Multifamily carries the highest asking price at $136/SF.
How much does it cost to lease commercial space in Hagerstown?
Asking lease rates in Hagerstown, MD average $16.32 per square foot per year.
What zoning applies to commercial property in Hagerstown?
Hagerstown, MD zones 7,221 acres across 15 districts, of which 22.5% is commercial and 21.4% industrial. The largest single district is Residential Moderate Density at 20.2% of zoned land. The purpose of this zoning district is to provide areas for moderate density residential development. Residential zoning covers 34.7% and open space 0%.
Where does Realmo's Hagerstown market data come from?
Realmo compiles Hagerstown, MD figures from 6 recent recorded sales, 198 active sale listings, 77 active lease listings, 2,535 tracked off-market properties, the current Hagerstown zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 198 active for-sale and 77 active for-lease listings in Hagerstown, MD. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- 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 August 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 August 2026 · report a data issue
