Real Estate Investing in Derry, New Hampshire (03038)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 03038 (Derry, NH)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Derry, NH (03038)?
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Market Analysis: 03038 Derry
ZIP 03038 in Derry, NH carries a durable set of headwinds. Home values near $511K and rents of $2,366/mo sit inside a market where underwriting has to be tight.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $511K asset, 03038 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader NH picture, 03038 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Who lives in 03038 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategically, 03038 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Derry:
Property Strategy for 03038
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $230,319 | $1,550 | 4.8% | +10.7% | $230,319 |
| 2BR | $366,759 | $2,030 | 4.0% | +10.4% | $183,380 |
| 3BR | $533,450 | $2,550 | 3.4% | +9.3% | $177,817 |
| 4BR | $644,247 | $2,690 | 3.0% | +9.7% | $161,062 |
| 5BR | $669,104 | — | — | +9.8% | $133,821 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 03038 Compare?
| Metric | 03038 | Derry | New Hampshire |
|---|---|---|---|
| Home Value | $510,918 | $510,918 | $496,656 |
| 5-Year CAGR | 6.6% | 6.6% | 9.6% |
| Avg Rent | $2,366 | $2,366 | - |
| Cap Rate | 3.6% | 3.6% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 03038 (Derry, NH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $510,918 |
| Monthly Rent | $2,366 |
| Price-to-Rent | 18.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.6% |
| Cap Rate | 3.6% |
| 5-Year IRR | 10.2% |
📈 Home Appreciation
| 1-Year | +6.9% ▲ |
| 3-Year CAGR | +5.4% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +8.2% ▲ |
🏠 Rent Trends
| 1-Year | +11.7% ▲ |
| 3-Year CAGR | +7.1% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 03038
Population: 34,622
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 03038
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,392 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What kind of vacancy should I budget for in Derry, NH?
Occupancy in Derry, NH runs measured with elevated vacancy. Well-priced units at $2,366/mo lease on reasonable timelines.
How strong are rents in Derry, NH?
Investors in Derry, NH typically see rents near $2,366/mo per month against $511K home values - a solid setup for rental cash flow.
What is it like being a landlord in Derry, NH?
NH ranks as a landlord-friendly state for landlord-tenant law. Derry generally follows the statewide framework, so landlords face reasonable operating rules.
What real estate strategy is ideal for Derry, NH?
For Derry, NH, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
What kind of market is Derry, NH for investors?
Investors tracking Derry, NH will find a 3.0/5 rating supported by $511K median home values and $2,366/mo rents. That profile suits long-term holders targeting reliable returns.
You know 03038 now. You don’t know where it ranks.
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How 03038 ranks in Boston-Cambridge-Newton, MA-NH
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