Hagerstown, MD is home to roughly 43,909 individuals. This number features a slight increase of about 0.8% from the population estimates base in April 2020, and about a 4,247 person change in population since April 1, 2010. Despite the apparent increase in population, the Maryland Chamber of Commerce expresses concern regarding the state’s population loss due to “domestic migration to other states” with Maryland ranking the “45th worst [population retaining state] in the country.” Even though the state had gained about 3,000 residents from 2020 to 2023, it lost upwards of 99,000 individuals to migration.

As of May 2025, the median cost of living in Hagerstown, MD is around $47,520 for a family and $33,600 for a single person. Compared to the national average, Hagerstown is 7.2% cheaper and 17.2% lower than the Maryland cost of living average. Alternatively, the unemployment rate in Washington County is 3.3% as of 2024 with significant decrease of 3.5% since 2020. This steady decrease in the unemployment rate is optimistic toward more local jobs and careers in Hagerstown.

Joined by Senator Chris Van Hollen, last elected on November 8, 2022, Angela Alsobrooks was recently elected on January 3, 2025, as a Maryland Senator. The two are working towards lowering the cost of living and opening more positions for the working population by continuing the American Rescue Act. All funded projects or spending are to be completed by December 31, 2026. Some projects allocated and started in 2024 include the demolishing and renovation of blighted buildings; a temporary, 3-year Grant Coordinator position for the town; and incentives to support local artists with the Heart of Art Grant program.

According to the U.S Census Bureau, the median value of owner-occupied housing units is about $207,700, and the median gross rent is $1,041. Since 2023, the value of owner-occupied housing units has increased a towering 7.9%. The value of Hagerstown housing units is projected to experience a growth between 5-10% annually depending on its affordability and luxury. Depending on the rejuvenation of Hagerstown with the American Rescue Act, properties in Downtown Hagerstown could experience a higher percentage of growth value. On the other hand, the East and South End are consistently attracting new home buyers due to their proximity to schools and shopping districts (Owens). Furthermore, the North End properties, categorized by its rich history, may appreciate, once again depending on the Hagerstown revitalization project and the climbing crime rate.

Neighborhoods rated the best places to live in Hagerstown with consideration of crime, schools, amenities, and cost of living include the following: St. James, Robinwood, and Fountainhead-Orchard Hills. These neighborhoods feature a wide range of atmospheres from rural to suburban living that are in range of local shopping centers featuring both food and entertainment. Additionally, the schools in these areas are rated no less than B+, ensuring a well-maintained learning facility and quality education.