NAICS 52

Finance and Insurance in Hagerstown-Martinsburg, MD

Metro Market Score 54.5 (Challenging), ranked #215 of 331 metros. 384 establishments, 2,759 jobs.

Metro Market Score 54.5

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Challenging

ⓘ Lower is better. Relative to national finance and insurance average.

At #215 of 331 metros, Hagerstown-Martinsburg's finance and insurance sector scores 54.5 on the market index. Concentration (55.6), wage levels (43.2), and growth (35.0) all track close to the median. Local factors like lease costs and client access will matter more than macro signals.

Industry Concentration

55.6

LQ: 0.64

Rank #184 of 331 metros

Wage Competitiveness

43.2

$86,073 avg wage

Growth Trend

↓ 35.0

Employment growth index

Rank #216 of 331 metros

Wage Pressure

51.4

YoY wage change index

384 Finance and Insurance Firms in Hagerstown-Martinsburg

384

Establishments

+11.3% YoY

2,759

Total Employment

-2.5% YoY

$86,073

Average Annual Wage

+8.3% YoY

0.64

Location Quotient

Below national avg

Within Maryland

#3 of 4

finance and insurance metros in state

Maryland state rank

#30 of 51

for finance and insurance entry risk

vs State Median

0.0

matches median (54.5)

Hagerstown-Martinsburg vs Maryland Statewide

How this metro's finance and insurance market compares to Maryland overall. The state ranks #30/51 for entry risk.

Measure	Hagerstown-Martinsburg	MD Statewide
Overall Score	54.5 Challenging	52.6 Elevated
Score Type	Metro Market Score	Entry Risk Score
Rank	#215 of 331 metros	#30 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Hagerstown-Martinsburg

Construction 23.3 Professional, Scientific, and Technical Services 26.8 Accommodation and Food Services 35.8 Healthcare and Social Assistance 38.8 Other Services 42.8 Real Estate and Rental and Leasing 49.2 Information 51.9 Retail Trade 52.8

Finance and Insurance in Other Maryland Metros

Lexington Park 36.7 #81/331 Salisbury 43.0 #128/331 Baltimore-Columbia-Towson 72.8 #309/331

Finance and Insurance Metros With Similar Conditions

Metros within 5 points of Hagerstown-Martinsburg's 54.5 score. Useful when comparing markets with comparable entry profiles.

Detroit-Warren-Dearborn, MI 54.5 #216/331 North Port-Bradenton-Sarasota, FL 54.4 #214/331 Bozeman, MT 54.4 #213/331 Lancaster, PA 54.3 #212/331 San Jose-Sunnyvale-Santa Clara, CA 54.3 #211/331 Champaign-Urbana, IL 54.1 #210/331 Knoxville, TN 54.1 #209/331 Pittsburgh, PA 54.9 #217/331 Waterbury-Shelton, CT 54.0 #208/331 Wildwood-The Villages, FL 55.0 #218/331

Finance and Insurance in States Bordering Maryland

State-level entry risk for finance and insurance in adjacent states. Use this to weigh cross-border options.

West Virginia 39.8 #2/51 District of Columbia 47.9 #13/51 Pennsylvania 48.8 #19/51 Virginia 50.8 #26/51 Delaware 57.7 #44/51

Browse Finance and Insurance in Other States

State-level entry risk reports for finance and insurance across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Hagerstown-Martinsburg's finance and insurance sector, the employment growth component (65.0) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Hagerstown-Martinsburg, MD-WV MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment