Conventional methods used for the design of anchored sheet pile walls are based on the lateral force and moment equilibrium of active and passive earth pressures and anchor force. Although it has been known for decades that the stress concentration occurs around the anchor level because of the restricted wall movements, this stress concentration is not considered in determining the lateral earth pressures. A parametric study using conventional and numerical methods was performed to investigate the behavior of single-level anchored sheet pile walls, and the lateral earth pressures, wall bending moments, and anchor forces were analyzed. The study results indicate that the conventional methods for the conditions considered and cases studied overestimate the wall bending moments, whereas the anchor forces are underestimated. New lateral earth pressure coefficients that consider the stress concentration around the anchor level were developed and proposed to be used in the design of single-level anchored sheet pile walls to provide more realistic earth pressure distributions acting on the wall and to obtain more accurate wall designs.