State rental market analysis · NH
New Hampshire rental markets
8 tracked cities over 20,000 population, 7 ranked and summarized by their median Overall. Every number traces to Census, Zillow and BLS. All states ranked →
Browse every New Hampshire ZIP Code area → · the full server-rendered index for this state.
Part of the New England Census division (Northeast region).
The honest read
New Hampshire ranks #39 of 51 states for rental investing, with a median Overall of 41.9/100 across its ranked cities, below the national median. 7 ranked cities roll up into this grade.
A state grade is the median of its ranked cities, a screen for where to look, not underwriting. Open any city below for its full shown-math breakdown, or run a specific deal through the cap rate and cash-flow calculators.
Where it ranks, factor by factor
Every value is the median across the 7 ranked cities in this state. The national rank compares all 51 states on that one factor; the engine already flips inverted factors (affordability, low unemployment) so a better rank always means a better market. Each factor sits in one of the model’s three categories (Cash Flow, Growth, or Stability); this is a representative summary, and the full thirteen-factor breakdown is on each city’s page. Full methodology.
| Factor | Category | State value | National rank |
|---|---|---|---|
| Gross rent yield | Cash Flow | 5.4% | not measured |
| Rent growth | Growth | 4.3% | not measured |
| Home value growth | Growth | 6.3% | not measured |
| Population growth | Growth | 0.4% | not measured |
| Job growth | Growth | 0.2% | not measured |
| Price-to-income | Cash Flow | 5.7× | not measured |
| Unemployment | Stability | 2.3% | not measured |
| Rental demand | Stability | 46% renters · 334.9% vacancy | not measured |
| Income growth | Growth | 6.1% | not measured |
Every city in New Hampshire, ranked
Led by Rochester at 46/100. Click any column to re-sort; every city links to its full shown-math breakdown.
| NH rank | City | Grade | Cash Flow | Growth | Stability | Typical home value | Gross yield | National rank |
|---|---|---|---|---|---|---|---|---|
| 1 | Rochester | 46 | D | C | C | $413,235 | 6.0% | #988 |
| 2 | Nashua | 45 | D | D | B | $515,004 | 5.3% | #1039 |
| 3 | Manchester | 45 | D | C | B | $444,613 | 5.6% | #1043 |
| 4 | Dover | 42 | D | C | B | $548,206 | 5.0% | #1202 |
| 5 | Keene | 38 | D | D | C | $358,023 | 5.9% | #1355 |
| 6 | Concord | 38 | F | C | B | $460,390 | 4.9% | #1374 |
| 7 | Portsmouth | 36 | F | C | B | $802,763 | 4.4% | #1455 |
Data as of: Zillow ZHVI/ZORI through the latest monthly release · Census ACS 5-yr 2019–2023 · Census PEP July 2024 · BLS LAUS county 2023 annual. Generated 2026-09-01. Methodology & limitations · underwrite any specific deal with the free calculators.
Limited-data cities in New Hampshire
These 1 cities lack enough measured factors to rank, so they are excluded from the state grade; their pages show exactly what could be measured.
ZIP markets in New Hampshire
246 Census ZIP Codes (ZCTAs) in New Hampshire · 170 data-eligible for subscores. These are sub-city government areas ranked separately from the New Hampshire city table. The overall Rental Investor ZIP Score leaderboard leads; the two component subscores (affordability, rental-market context) follow as independent percentiles. ZIP ranks are shown within the ZIP universe only, never mixed with, and not directly comparable to, city ranks. Vintage: the Key metric column is Census ACS 2020–2024 (5-year), a newer release than the ACS 2019–2023 figures the city table above uses; the same measure can legitimately disagree between the two.
Best overall ZIP Codes in New Hampshire
Ranked by the overall Rental Investor ZIP Score. The # is each ZIP Code's canonical NH state rank; the smaller figure is its national rank. Separate from the New Hampshire city table and not directly comparable to it.
| NH rank | ZIP Code | Overallgrade · national | Key metric |
|---|---|---|---|
| #1 | 03063Nashua | B 61#3,012 nat | 5.7%Survey yield |
| #2 | 03062Nashua | B 60#3,314 nat | 5.6%Survey yield |
| #3 | 03867Rochester | B 60#3,443 nat | 6.0%Survey yield |
| #4 | 03060Nashua | B 59#3,816 nat | 5.3%Survey yield |
| #5 | 03079 | B 59#4,006 nat | 4.1%Survey yield |
| #5 | 03894Wolfeboro | B 59#4,006 nat | 2.4%Survey yield |
| #7 | 03102Manchester | B 58#4,295 nat | 5.7%Survey yield |
| #8 | 03051Hudson | B 58#4,338 nat | 4.7%Survey yield |
| #9 | 03303Concord | B 58#4,453 nat | 5.7%Survey yield |
| #10 | 03820Dover | B 57#4,891 nat | 4.4%Survey yield |
| #10 | 03857Newmarket | B 57#4,891 nat | 4.4%Survey yield |
| #12 | 03301Concord | B 57#5,054 nat | 4.7%Survey yield |
Top affordability ZIP Codes in New Hampshire
State-scoped leaders on the affordability subscore only (national rank shown is within that subscore’s data-eligible universe). Substantially an inverse housing-cost signal: a component of the overall score, not a predicted return.
| # | ZIP Code | Affordability | Key metric |
|---|---|---|---|
| 1 | 03245 | 58#6,302 nat | 6.8%Survey yield |
| 2 | 03838 | 57#6,704 nat | 5.0%Survey yield |
| 3 | 03813Conway | 53#8,253 nat | 6.8%Survey yield |
| 4 | 03752 | 50#9,309 nat | 9.1%Survey yield |
| 5 | 03582Groveton | 49#9,830 nat | 9.8%Survey yield |
| 6 | 03044 | 49#10,095 nat | 7.7%Survey yield |
| 7 | 03782 | 46#11,447 nat | 5.0%Survey yield |
| 8 | 03740Mountain Lakes | 45#11,610 nat | 7.4%Survey yield |
| 9 | 03254Suissevale | 44#12,144 nat | 2.7%Survey yield |
| 10 | 03814Center Ossipee | 44#12,144 nat | 6.0%Survey yield |
| 11 | 03230 | 44#12,319 nat | 6.4%Survey yield |
| 12 | 03282 | 43#12,626 nat | 6.8%Survey yield |
Deepest rental-market ZIP Codes in New Hampshire
State-scoped leaders on the rental-market-context subscore only (national rank shown is within that subscore’s data-eligible universe). Rental depth/tightness: a separate component, never combined here with affordability.
| # | ZIP Code | Rental market | Key metric |
|---|---|---|---|
| 1 | 03784Lebanon | 82#123 nat | 4.8%Survey yield |
| 2 | 03060Nashua | 81#161 nat | 5.3%Survey yield |
| 3 | 03561Littleton | 81#187 nat | 4.0%Survey yield |
| 4 | 03785Mountain Lakes | 80#260 nat | 5.4%Survey yield |
| 5 | 03857Newmarket | 78#407 nat | 4.4%Survey yield |
| 6 | 03264Plymouth | 78#518 nat | 4.6%Survey yield |
| 7 | 03458Peterborough | 78#518 nat | 4.0%Survey yield |
| 8 | 03101Manchester | 77#599 nat | 4.3%Survey yield |
| 9 | 03820Dover | 76#779 nat | 4.4%Survey yield |
| 10 | 03063Nashua | 75#916 nat | 5.7%Survey yield |
| 11 | 03801Portsmouth | 75#945 nat | 3.2%Survey yield |
| 12 | 03860North Conway | 74#1,042 nat | 3.1%Survey yield |