Real Estate Investing in Manchester, New Hampshire (03109)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 03109 (Manchester, NH)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
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 Manchester, NH (03109)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 03109 Manchester
Not every below-median market is a bargain. Manchester's 03109 ZIP registers signals that favor experienced operators who can absorb the risk $473K pricing implies.
For an experienced owner, 03109 can be a a credible choice for hunting ground — but the discount at $473K reflects genuine risk that outside investors often underestimate.
The gap between 03109 and stronger Manchester ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
A substantial renter share of 20% in 03109 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategy in 03109 is an operator game, not a passive one. On balance, entry prices of $473K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Manchester:
Property Strategy for 03109
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $192,651 | $1,750 | 6.5% | +10.9% | $192,651 |
| 2BR | $361,940 | $2,300 | 4.6% | +9.6% | $180,970 |
| 3BR | $493,058 | $2,760 | 4.0% | +8.9% | $164,353 |
| 4BR | $519,977 | $3,050 | 4.2% | +8.8% | $129,994 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 03109 Compare?
| Metric | 03109 | Manchester | Manchester-Nashua, NH | New Hampshire |
|---|---|---|---|---|
| Home Value | $473,386 | $280,496 | N/A | $496,656 |
| 5-Year CAGR | 6.9% | 5.9% | N/A | 9.6% |
| Avg Rent | $1,597 | $1,993 | N/A | - |
| Cap Rate | 2.6% | 3.5% | - | - |
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 03109 (Manchester, NH). Anonymous, moderated, never written by AI.
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Property managers serving Hillsborough County
Manage rentals here? List your business →Finley Property Management, LLC is a boutique firm offering leasing and full-time management for single-family homes, townhomes, condos, and small multi-unit properties in Portland. summary from their website
North Point Property Management, LLC, also known as RowCal, is an HOA & Community Association Management Company offering financial, maintenance, and construction services. summary from their website
Peloquin Realty & Property Management offers property management services and real estate sales in Southern New Hampshire, including multi-family properties. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $473,386 |
| Monthly Rent | $1,597 |
| Price-to-Rent | 24.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.6% |
| 5-Year IRR | 9.6% |
📈 Home Appreciation
| 1-Year | +4.8% ▲ |
| 3-Year CAGR | +5.9% ▲ |
| 5-Year CAGR | +6.9% ▲ |
| 10-Year CAGR | +8.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.6%). 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 03109
Population: 10,118
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 03109
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Beech Street School
Henry Wilson Elementary School
Highland-Goffes Falls School
Manchester School of Technology (High School)
Southside Middle School
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 1,783 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Do landlords face vacancy issues in Manchester, NH?
Rental vacancy in Manchester, NH is elevated. Investors should budget normal turnover but not chronic empty units.
What do landlords charge for rent in Manchester, NH?
Rent in Manchester, NH is around $1,597/mo. The resulting rent-to-value relationship with $473K pricing is reasonable for most investor models.
What is the typical home price in Manchester, NH?
In Manchester, NH the median home value sits at $473K. Against the broader NH market, that reads as reasonable for most investors.
Is Manchester, NH good for landlords?
Manchester, NH falls under NH landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
What is the best play in Manchester, NH?
For Manchester, NH, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
You know 03109 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 03109 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 03109 ranks in Manchester-Nashua, NH
Every ZIP in this metro, ranked. Free.
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