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Demographics & Housing Market Conditions

Population and Age

NASHUA’S POPULATION IS DIVERSIFYING.

The total population of Nashua increased by
just over 2% between 2013 and 2018, but new
residents were more diverse than in the past.

Over the five-year period, Nashua lost 3,400
residents who identified as White and gained
5,200 residents who identified as a race or
ethnicity other than White. The most
significant growth was seen in Hispanic and
Latino residents. This group added 2,770 new
residents to the city. Residents identifying as
Mexican or Puerto Rican comprised 50% of all
residents identifying as either Hispanic or
Latino.

Nashua also saw an increase of 1,260
residents identifying as Black or African
American, and 1,000 residents identifying as
Asian.

Nashua Housing Study - 9

90%

80%

70%

60%

50%

40%

30%

20%

10%

0%

79%

73%

White

ASSOCIATES INC

Population by Race/Ethnicity

Source: ACS 2013, 2018

m2013 2018

13%
10%

7% 8%
a |

Black or African American Asian Two or more races Hispanic or Latino

Categories comprising less than 1% of total population not shown in this figure.

Demographics & Housing Market Conditions

Household Composition

HOUSEHOLDS ARE INCREASING AT A FASTER RATE THAN THE POPULATION.

Change in Household Composition 2013-2018

Source: ACS 2013, 2018

2013

% 11% 30% .
m@ Married Couple

Male

Non-Family Female

Family Households Households

Living Alone

@ Not Living Alone
% 12% 30%

2018

HOUSEHOLD COMPOSITION REMAINS RELATIVELY UNCHANGED.

Nashua’s household composition remained relatively unchanged
between 2013-2018. Approximately 61% of all households are family
households comprised of one or more related individuals living together,
of which 16% are family households headed by a single parent.

Single-person households account for 30% of all households in Nashua
and have increased by about 600 over the five-year period. Nationally,
we have seen a larger increase in single-person households due to
delays in marriage, divorce rates, and seniors living alone.

Nashua Housing Study - 10

Change in
Households
2013-2018

Source: ACS 2013, 2018

Households by
Size and Tenure
2013-2018

Source: ACS 2013, 2018

Households by
Age of Householder
2013-2018

Source: ACS 2013, 2018

ASSOCIATES INC

HOUSEHOLD GROWTH OUTPACING POPULATION GROWTH.

Between 2013 and 2018, the number of households
in Nashua grew by over 4% while population grew
by 2%. Nashua added just under 1,500 new
households over the five-year period. Householders
living alone accounted for 37% of that growth.

GROWTH DRIVEN BY 1- AND 2-PERSON HOUSEHOLDS.

One- and two-person renter households increased by
12% and 22%, respectively. These 1,500 households
are accounting for the more rapid increase in
households compared to total population. Larger 4-
and 5-person households, particularly owner-
occupied households, are not increasing at nearly the
same rate.

OLDER RESIDENTS ARE DOMINATING NASHUA’S HOUSEHOLDS.

Households headed by a resident 65 years or older are
driving much of the population and household change in
Nashua. Nearly every category of household composition
tracked by the Census (family and non-family) shows
increases in 65+ households since 2013. The largest
increases were in married-couple households and
householders living alone.

Demographics & Housing Market Conditions

Education and Income

Change in Educational Attainment 2013 - 2018

Source: ACS 2013, 2018

20%
15%
10%
- | i
0% []
-5%
-10%
-15%
No High High School Associates or Bachelor's Master's Professional or
School Diploma or Some College Degree Degree Doctorate
Diploma Equivalent
mNashua_ sHillsborough

NASHUA RESIDENTS ARE ADVANCING THEIR EDUCATION.

Over the last five years, the number of residents with a bachelor’s degree or higher
increased 11%. That translates into nearly 2,169 residents who earned post
secondary degrees. There is also a strong correlation between the increase in
educated residents and the increase in household incomes over the last five years.

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ASSOCIATES INC

Change in Household Income 2013 - 2018

Source: ACS 2013, 2018
70%
60%
50%
40%
30%

20%
10% JJ
7 s FFs

-10% L

-20%

-30%
Lessthan $25,000- $50,000- $75,000- $100,000- $150,000- $200,000+
$25,000 $49,999 $74,999 $99,999 $149,999 $199,999

mNashua_ sHillsborough

HIGHER INCOME HOUSEHOLDS ARE BECOMING MORE PREVALENT IN NASHUA.

Nashua households have become increasingly wealthier with the highest percentage
growth taking place in households earning more than $200,000 per year. Over the last
five years, Nashua saw a 13% growth in households earning more than $50,000 per
year. This was a faster rate than Hillsborough County (10%). Households earning at or
above $75,000 can afford homes priced over $250,000 and rents of $1,875 or more per
month.

Demographics & Housing Market Conditions

Income

Median Household Income by Race/Ethnicity
Source: ACS 2018

$100,000
$92,004 2018 Income
$90,000
$81,552

$80,000
$70,000
$60,000
$50,000

$40,000 $34,511 $33,275

$30,000
$20,000
$10,000

$0
White Alone Black or African Asian Hispanic or Latino
American

MEDIAN HOUSEHOLD INCOME OF WHITE HOUSEHOLDS IS 2.4 TIMES HIGHER THAN BLACK, HISPANIC AND
LATINO HOUSEHOLDS.

White and Asian households in Nashua have significantly higher household incomes
than Black, Hispanic and Latino households. This greatly impacts their ability to pay
rents and mortgages, contain cost burdening as prices escalate, and find affordable
housing options in the city. It may also be impacting their ability to enter the
homeownership market over time as prices continue to rise.

Nashua Housing Study - 12

Percent Non-White Residents ASSOCIATES INC
Source: ACS 2018

% Non-White Residents
0% - 9%

10% - 17%

GD 12% - 28%

GRD 29% - 45%

Higher percentages of non-white residents can be found in block groups
in and around the Downtown area which correlates with lower income
households and much higher percentages of renter households. Block
groups on the edges of Nashua also have higher percentages of non-
white residents influenced by high numbers of Asian residents.

Demographics & Housing Market Conditions

Income
Change in Household Income by Tenure 2013-2018
Source: ACS 2013, 2018

140%
120%
100%
80%

60%

40%

20% i
0% = — a —
-20% |

-40%
Less than $25,000 - $50,000 - $75,000 - $100,000 - $150,000 +
$25,000 $49,999 $74,999 $99,999 $149,999
m@ Owner Households Renter Households

NASHUA IS SEEING AN INCREASE IN INCOMES AMONG RENTER HOUSEHOLDS.

Nashua renter households have become increasingly wealthier with the highest
percentage growth taking place in households earning more than $150,000 per year.
Owner households on average have not experienced the same amount of growth in
incomes as renter households. The reason for this is because there are already four
times more owner households than renter households earning over $100,000 a year.
Across the United States, renter households tend to earn less than owner households.

Nashua Housing Study - 13

Median Household Income ASSOCIATES INC
Source: ACS 2018

(— "Median HH Income
GED $0 - $44,000
GED 344,001 - $71,000
GED 871,001 - $96,500

L GED $96,501 - $757,000

The lowest median household incomes in Nashua are
concentrated in the block groups in and around the
Downtown area. This also correlates to where the oldest
housing stock is located and where most renters are living
in Nashua.

Demographics & Housing Market Conditions

Employment and Wages

Top Ten Largest Employment Sectors 2019

Source: EMSI 2020

Industry Sector 2020 Jobs 2020 Avg. Earning
Health Care and Social Assistance 12,207 $73,141
Manufacturing 10,572 $128,334
Retail Trade 9,772 $41,579
Government 5,104 $76,530
Accommodation and Food Services 4,577 $25,100
Professional, Scientific, and Technical 3,759 $121,513
Services
Administrative and Support and Waste
Management and Remediation Services ole $59,651
Other Services (except Public
Administration) 2,719 $35,978
Educational Services 2,301 $60,866
Construction 1,986 $71,689

Top Ten Employment Growth Sectors
Source: EMS! 2020-2029

Industry Sector 2029 Jobs 2020 Avg. Earning

Health Care and Social Assistance +1,671 $73,141
Educational Services +411 $60,866
Accommodation and Food Services +213 $25,100
Administrative and Support and Waste

Management and Remediation Services +179 $59,651
Other Services (except Public

Administration) #120 oe
Arts, Entertainment, and Recreation +46 $24,732
Construction +15 $71,689
Unclassified Industry +10 $56,502
Agriculture, Forestry, Fishing and Hunting +6 $29,927
Government +6 $76,530

Nashua Housing Study - 14

ASSOCIATES INC

What Can Different Jobs/Earnings Afford in Nashua?

Source: EMSI 2020, HUD, RKG Associates

Earnings Chart

$135,000
Manufacturing
$425,000 Home = >——
§3,208 Rent $120,000
Prof/Tech/Science
$105,000 $403,000 Home
Government $3,037 Rent
$253,000 Home
$1,913 Rent $90,000 Healthcare
$242,000 Home
Construction $1,829 Rent
$238,000 Home = = ->——
$1,792 Rent Educational Services
$60,000 $201,000 Home
Admin Support Serv, $1,522 Rent
$198,000 Home
$1,491 Rent $45,000 Retail
$138,000 Home
$1,039 Rent
$30,000
Other Services
$119,000 Home
Accommodation/ $15,000 $900 Rent
Food Services r..~CO~S
$83,000 Home
$628 Rent

LOWEST PAYING JOBS IN NASHUA CANNOT AFFORD RENT OR HOME PURCHASE AT NASHUA’S MEDIAN PRICES.

With a median gross rent of $1,287/month and a median home value of $278,400, 31% of
employees in Nashua’s top ten largest employment sectors can’t afford units at those
prices. These industry sectors are also projected to add employees through the year 2029.

Demographics & Housing Market Conditions

Housing Stock

NASHUA’S HOUSING STOCK IS CHANGING TO ACCOMMODATE GROWTH.

NASHUA IS ADDING HOUSING UNITS TO ACCOMMODATE ITS GROWING POPULATION.

Between 2013 and 2018, Nashua added an estimated 1,600 new housing
units to its overall stock. Much of that growth occurred in multi-family
structures with 20 - 80 units around the Downtown and Route 3 south
areas. At the same time, the City saw a loss of units in structures with 2-4
units which created a net increase of units closer to 990, or 3%, since 2013.

Nashua Housing Study - 15

ASSOCIATES INC

Units in Structure 2013 & 2018

Source: ACS 2013, 2018

20+
10-1 9 Unit

52%

2018

52%

2013

NASHUA’S HOUSING STOCK IS PREDOMINATELY SINGLE-FAMILY UNITS.

In 2018, 52% of Nashua’s housing stock was comprised of single-family
housing units. The City added just over 330 1-unit detached and
attached homes in the last five years. The City also added 1,335 units in
multi-family buildings of 5 or more units, with growth concentrated in
buildings of 5-9 units and 20+ units in size. This includes 115 new units
of affordable housing.

Demographics & Housing Market Conditions

Housing Stock

SINGLE-FAMILY HOUSING UTILIZES A LARGE PERCENTAGE

OF NASHUA’S LAND.

Single-family housing comprises 50%
of Nashua’s housing stock but
comprises 63% of the city’s residential
land acreage. Single- and two-family
structures together comprise 66% of
the city’s residential land acreage.
Conversely, residential units in
buildings with 50 or more units
comprise 20% of the city’s housing
stock but only utilize 5% of the city’s
residential land acreage. Since much
of the larger-scale multi-family
housing developments have been
constructed on larger parcels at the
edges of Nashua (see red parcels on
map), land consumption of similar
projects in the Downtown area would
likely have an even higher ratio of land
area to units.

If the City is looking to create more
housing opportunities to accommodate
future population and employment
growth, multi-family and mixed-use
development utilizes less land area per
unit than any other housing typology.

Nashua Housing Study - 16

Residential Land Area to

Unit Count Comparison
Source: City of Nashua Assessor Database,

RKG Associates

Structure % of % of
Type Land Area ___ Res. Units
1-Unit 63% 50%
2-Unit 3% 10%
3-Unit 1% 3%
4-9 Unit 1% 8%
10-20 Unit 0.2% 2%
21-50 Unit 0.5% 3%
51-100 Unit 1% 2%
100+ Unit 4% 18%
Mixed-Use 0.03% 0.5%
Nousing A% 0.04%
pow ose
Nursing Home 1% 2%
Other 22% 1%

Residential Type by Units in Structure

Source: City of Nashua

Units in Structure

1-Unit
2- Units
™® 3-Units

4-9 Units
GERD 10-20 Units
GD 21 -50units

51 - 100 Units
GD 101+ Units
GD Mixed-Use

Manu. Homes
GD Housing Auth.
GED Nursing Home

Other

ASSOCIATES INC

Demographics & Housing Market Conditions

Housing Stock

SIXTY PERCENT OF NASHUA’S HOUSING WAS BUILT BEFORE 1970.

Nashua, like most New England

cities, began its development history . . . .
around water and transportation in Residential Units by Year Built

what is today Downtown Nashua Source: City of Nashua Assessor Database, RKG Associates
with many structures dating to the

Year Built of Structure source: City of Nashua ASSOCIATES INC

downtown section of Nashua

contains the largest diversity of Pre-1930 9,505 28%

housing types from single-family, 1931 - 1961 4,584 13% Vem bak
smaller multi-family infill buildings, to

large 50+ unit multi-family buildings. 1962 — 1970 6,518 19% ae 9121950
ne Nashville Historic District is 1971 - 1983 6,222 18% 1931 - 1961
ocated just north of Downtown, sone 4058
beginning in the early 1800's and 1984 - 2019 7,189 21%

expanding considerably in the 1840's Je: Tees
and 50’s as housing was needed to GED 1984-2019

support the growing textile mills.

Residential growth in Nashua occurred in waves radiating out in rings from the downtown
core. As development expanded outward, the development pattern became more suburban
with single-family home subdivisions on larger lots compared to the historic core.
Development after 1970 is most representative of this pattern with larger neighborhoods and
subdivisions planned and built leapfrogging Route 3 to the west.

Since 2010, 70% of all housing units added in Nashua were part of a multi-family apartment
development bringing in close to 1,000 new units in the last ten years. These new projects
have been locating around Downtown and in the southern part of the city along Route 3 in
buildings ranging from 20 units to 88 units in size. As much of Nashua’s land area is already
utilized; the focus on downtown, the TOD overlay districts, and strategic infill is not surprising.

Nashua Housing Study - 17

Demographics & Housing Market Conditions

Housing Tenure

ASSOCIATES INC

Housing Tenure 2018 Change in Households by Tenure and Size 2013 - 2018
Source: ACS 2018, 2010 Census Source: ACS 2013, 2018
4% Owner- oe
e 60%
O Occupied
40%
22%
20% 12% 9
Oo, Renter “% We ox
e 0% = 7 = =
0 Occupied “4% LJ 4% 4%
-20% -13%
-40%

THE SHARE OF OWNERSHIP HOUSING IN NASHUA HAS BEEN DECLINING,
BUT VERY SLOWLY. -60%

As more ental housing hasbeen bul or oxership units screen, SRG, RGR, RRER, Someige
converted to rental, the overall percentage of owner-

occupied housing has declined. Since 2013, the percentage m Owner Household Renter Household

of housing in Nashua that is renter-occupied increased by

12%. SINGLE PERSON AND 2-AND 3-PERSON HOUSEHOLDS ARE DRIVING CHANGES.

The number of 1- and 2-person renter households increased by 12% and 22%, respectively over the
last five years. On average, owner households are declining especially 3-person households which
have declined by 13%.

Nashua Housing Study - 18