Metro area index
Home appreciation in the Hagerstown-Martinsburg, MD-WV metro area
FHFA HPI® data shows the Hagerstown-Martinsburg, MD-WV metro area's all-transactions index changed +0.9% over the year to Q2 2026, versus +2.2% for Maryland and +3.0% for the U.S. That ranks 322nd of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +0.9%
- 5-year change
- +40.7%
- Since Q1 1995
- +224%
- Metro rank (1 year)
- 322nd
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Hagerstown-Martinsburg, MD-WV vs Maryland and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Hagerstown-Martinsburg, MD-WV: 323.8
- Maryland: 348.0
- United States: 391.6
Appreciation by time window
| Window | Metro | MD | U.S. | Gap vs MD | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +0.9% | +2.2% | +3.0% | −1.3 pts | −2.1 pts |
| 3 years | +14.9% | +11.2% | +12.9% | +3.7 pts | +2.1 pts |
| 5 years | +40.7% | +32.0% | +41.3% | +8.6 pts | −0.6 pts |
| 10 years | +81.5% | +63.8% | +93.3% | +17.7 pts | −11.8 pts |
| Since Q1 1995 | +224% | +248% | +292% | −24.2 pts | −67.8 pts |
3-digit ZIP regions in the Hagerstown-Martinsburg, MD-WV area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 254 · Martinsburg, WV area | WV | +6.3% | +48.4% | +237% | 68% |
| 217 · Frederick, MD area | MD | +1.4% | +35.6% | +231% | 31% |
Boom, bust, and recovery in Hagerstown-Martinsburg, MD-WV area
Hagerstown-Martinsburg, MD-WV area's index peaked in Q1 2007, fell 36.1% to its low in Q2 2011, and regained its peak in Q3 2021, about 14.5 years after the top. Today it sits +33.1% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q1 2007 | Q2 2011 | -36.1% | Q3 2021 (14.5 yrs) | +33.1% |
| MD | Q2 2007 | Q2 2012 | -25.3% | Q2 2021 (14 yrs) | +35.2% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Hagerstown-Martinsburg, MD-WV area's index has changed +46.2% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | MD after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | -2.8% | -1.6% | -0.8% |
| 3 years | +9.8% | +4.7% | +1.3% | +2.8% |
| 5 years | +24.0% | +13.4% | +6.5% | +13.9% |
| 10 years | +39.1% | +30.5% | +17.8% | +39.0% |
| Since Q1 1995 | +121% | +46.2% | +57.2% | +76.8% |
If you bought in the Hagerstown-Martinsburg, MD-WV area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +212% | $936,625 |
| Q2 2000 | +175% | $824,306 |
| Q2 2005 | +56.5% | $469,490 |
| Q2 2010 | +88.8% | $566,278 |
| Q2 2015 | +86.7% | $560,106 |
| Q2 2020 | +57.0% | $470,878 |
| Q2 2021 | +40.7% | $421,984 |
| Q2 2023 | +14.9% | $344,756 |
| Q2 2025 | +0.9% | $302,768 |
Frequently asked questions
- How much have home prices risen in the Hagerstown-Martinsburg, MD-WV area?
- FHFA HPI® data for the Hagerstown-Martinsburg, MD-WV metro area shows changes of +0.9% over one year, +40.7% over five years, and +81.5% over ten years to Q2 2026, and +224% since Q1 1995.
- Is the Hagerstown-Martinsburg, MD-WV area beating the national average?
- Over the past year the metro's index moved −2.1 pts versus the U.S.; over five years the gap is −0.6 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.