State rental market analysis · NH
New Hampshire rental markets
14 tracked cities over 5,000 population, 13 ranked and summarized by their median Overall; 0 of 13 evaluable cities pass the modeled Buy & Hold screen. Every number traces to Census, Zillow and BLS. Compare state coverage and results →
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 has a median Overall of 37.4/100 across its ranked cities, but it is not assigned a headline state rank: 13 cities across 9 county contexts are evaluable for the Buy & Hold screen, below the published minimum of 20 cities and 10 county contexts. 13 ranked cities roll up into this grade. Its strongest factor is home-value growth: 6.2%, 3rd of 51, backed by low unemployment (7th).
The biggest drag is job growth: 0.1%, 46th of 51. 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 13 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 | 5.5% | #32 of 51 |
| Rent growth | Growth | 4.6% | #13 of 51 |
| Home value growth | Growth | 6.2% | #3 of 51 |
| Population growth | Growth | 0.5% | #29 of 51 |
| Job growth | Growth | 0.1% | #46 of 51 |
| Price-to-income | Cash Flow | 5.4× | #35 of 51 |
| Unemployment | Stability | 3.2% | #7 of 51 |
| Rental demand | Stability | 45% renters · 3.7% vacancy | two-part measure |
| Income growth | Growth | 5.4% | #19 of 51 |
Every city in New Hampshire, ranked
Led by Lebanon at 57/100. 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 | Lebanon | 57 | C | B | B | $464,813 | 6.7% | #1024 |
| 2 | Rochester | 47 | D | B | C | $410,388 | 5.7% | #2420 |
| 3 | Nashua | 46 | D | C | B | $509,265 | 5.4% | #2580 |
| 4 | Laconia | 46 | D | C | B | $442,834 | 5.1% | #2612 |
| 5 | Dover | 45 | D | C | A | $546,302 | 5.0% | #2738 |
| 6 | Manchester | 41 | D | C | C | $441,115 | 5.7% | #3239 |
| 7 | Keene | 37 | D | C | C | $358,686 | 6.1% | #3715 |
| 8 | Portsmouth | 36 | F | C | B | $797,662 | 4.6% | #3881 |
| 9 | Concord | 36 | F | C | C | $455,058 | 5.0% | #3890 |
| 10 | Claremont | 34 | D | D | C | $284,115 | 7.2% | #4039 |
| 11 | Somersworth | 30 | F | C | C | $449,639 | 5.3% | #4321 |
| 12 | Berlin | 29 | D | F | C | $185,545 | 6.1% | #4356 |
| 13 med | Franklin | 29 | F | C | D | $385,660 | 5.1% | #4386 |
Data as of: Zillow ZHVI/ZORI through the latest monthly release · Census ACS 5-yr 2020–2024 · Census PEP July 2025 · BLS LAUS county 2025 annual (11-month average). Generated 2026-10-06. 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), the same release the city table above uses; the geographies differ, so the same measure can still 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 63#2,391 nat | 5.7%Survey yield |
| #2 | 03062Nashua | B 62#2,683 nat | 5.6%Survey yield |
| #3 | 03060Nashua | B 61#3,118 nat | 5.3%Survey yield |
| #4 | 03867Rochester | B 61#3,284 nat | 6.0%Survey yield |
| #5 | 03051Hudson | B 60#3,419 nat | 4.7%Survey yield |
| #6 | 03894Wolfeboro | B 59#3,975 nat | 2.4%Survey yield |
| #7 | 03102Manchester | B 59#4,040 nat | 5.7%Survey yield |
| #8 | 03079 | B 58#4,355 nat | 4.1%Survey yield |
| #9 | 03820Dover | B 58#4,445 nat | 4.4%Survey yield |
| #10 | 03857Newmarket | B 58#4,635 nat | 4.4%Survey yield |
| #11 | 03055Milford | B 58#4,738 nat | 5.0%Survey yield |
| #11 | 03766Lebanon | B 58#4,738 nat | 5.7%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 |