Cost of Living in Hagerstown, MD
Housing
The housing market plays a significant role in determining the cost of living in Hagerstown, MD.
- Housing Index: 110.5 / 100
- Median Home Price is: $193000
- Average Rent (2 BR Apartment): $1500 per month
- Average Rent (2 BR House): $1600 per month
Considering a move to Hagerstown, MD? With a housing index of 110.5, it’s essential to understand the cost of living. The median home price stands at 193000, which is competitive compared to national averages. Renting options include an average of 1500 for a 2-bedroom apartment and 1600 for a 2-bedroom house. This indicates a rental market that's slightly above average, suggesting a demand likely driven by local amenities and job opportunities. Evaluate your budget carefully and consider future appreciation potential in the housing sector.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Hagerstown, MD.
- Electricity Price: $17.41 USD (median by state)
- Natural Gas Price: $18.44 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $200 per month
Living in Hagerstown, MD could entail higher utility costs. Electricity costs sit at $17.41, while natural gas is priced at $18.44 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $200 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Hagerstown is a financially viable option for your relocation.