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Pawn Shops vs Payday Loans in Hagerstown, MD
8 pawn shops in and around Hagerstown — 7.9 per 100,000 residents, compared with 2.0 across Maryland. Call ahead to ask what they're buying and lending on today: inventory needs change weekly. Hagerstown ranks #1 of 18 Maryland cities with pawn shops by shops per resident.
- Pawn shops
- 8
- Pawn shops per 100k
- 7.9
- Maryland: 2.0
- Big-chain shops
- 0
- Payday & loan stores
- 3
- Population
- 100,670
Pawn shops in Hagerstown: addresses and phone numbers
| Pawn shop | Address | Phone | Website |
|---|---|---|---|
| Famous Pawnbrokers | 1423 Dual Hwy #11 Hagerstown, MD 21740 | (301) 745-6600 | firstcash.com |
| Gold and Silver Exchange | 35 N Prospect St Hagerstown, MD 21740 | (301) 745-4000 | spotlightgoldbuyers.com |
| NotaPawnShop | 11363 Robinwood Dr Hagerstown, MD 21742 | (240) 347-4808 | notapawnshop.net |
| Pawn Shop | 17617 Virginia Ave Hagerstown, MD 21740 | (240) 707-6677 | — |
| Royal Classics / Royal Pawn | 11205 John F Kennedy Dr Hagerstown, MD 21742 | (301) 393-4653 | — |
| Sheila's Jewelry & Loan | 1061 Virginia Ave Hagerstown, MD 21740 | (301) 992-5997 | sheilasjewelryandloan.com |
| Thrifty Guy | 16863 Shinham Rd Hagerstown, MD 21740 | — | facebook.com |
| Washington Street Pawn Brokers | 47 E Washington St Hagerstown, MD 21740 | (301) 791-7296 | washingtonpawn.net |
Pawn shops vs payday loan stores in Hagerstown
Hagerstown has 8 pawn shops and 3 payday, installment and title loan stores.
Pawn shops
8
7.9 per 100k residents
Payday & loan stores
3
3.0 per 100k residents
3 store chains
Biggest loan store chains in Hagerstown: Lendmark Financial Services (1), Mariner Finance (1), OneMain Financial (1).
Borrowing $500 for one month: payday vs pawn vs credit union
| Option | How it works | Cost for one month |
|---|---|---|
| Payday loan (not legal in Maryland) | $75.00 fee every 2 weeks, renewed once | $150.00 |
| Pawn loan (example: 20% a month) | You leave an item worth more than the loan; repay to get it back | $100.00 |
| Credit union PAL (28% APR + $20 fee) | Repaid in installments; membership required | $31.67 |
- Payday cost, share of monthly household income in Hagerstown
- 2.7%
- Pawn cost, share of monthly household income in Hagerstown
- 1.8%
- A $400 emergency equals
- 2.2 days of income
Payday: a typical fee of $75 on a $500 loan for 2 weeks, paid twice for a one-month loan (Maryland payday rules are not set in dollars or payday loans are not allowed). Pawn: an example rate of 20% a month; pawn fees and interest are set by Maryland law and vary by shop — ask for the total in writing. PAL: payday alternative loan from a federal credit union, capped at 28% APR plus an application fee of up to $20.
Pawn loan vs payday loan: the key differences
| Pawn loan | Payday loan in MD | |
|---|---|---|
| What you need | An item of value (jewelry, gold, electronics, tools, firearms) and an ID | A bank account, proof of income and an ID |
| Credit check | None | Usually none |
| How much you get | A fraction of the item's resale value | Based on your income, up to the state limit |
| If you can't repay | The shop keeps the item; no collections and no credit damage | Fees pile up with renewals; the debt can go to collections |
| Bank account access | None | Lender can debit your account or cash your check |
| Rules in Maryland | Pawnbrokers are licensed and regulated by Maryland; fees, terms and holding periods are set by state law | Storefront payday loans are not allowed in Maryland |
Hagerstown at a glance
- Median household income
- $66,959
- Maryland: $108,948
- Poverty rate
- 15.1%
- Maryland: 9.5%
- Households under $25,000
- 17.2%
- Maryland: 11.0%
- A $400 emergency equals
- 2.2 days of income
Payday and installment loan stores in Hagerstown
For comparison: storefront payday, installment and title lenders in Hagerstown with addresses, phone numbers and hours.
| Address | Phone | Hours | Google rating |
|---|---|---|---|
| 18340 Spark Dr Ste 103 Hagerstown, MD 21740 | (240) 420-2800 | — | 4.4 |
| 1447 Wesel Blvd Hagerstown, MD 21740 | (301) 714-1550 | — | 4.7 |
| 17612 Garland Groh Blvd Hagerstown, MD 21740 | (301) 790-4949 | — | 4.4 |
Pawn shops near Hagerstown
More about Hagerstown
Pawn shop listings: © Overture Maps Foundation (CDLA-Permissive 2.0), including Foursquare OS Places and © OpenStreetMap contributors; filtered and de-duplicated by us. Population, income and poverty: U.S. Census Bureau, American Community Survey. Call ahead to confirm hours and what a shop buys or lends on.