Imagine TEENA
A gap in purchasing power
In Nashua, homebuyers are
made up of upper income
homebuyers which account
for 49% of all households,
moderate income which
account for 17%, and lower
income which account for
24%. Households in the top
34% can purchase homes
starting at $331,000. Due to
a lack of supply, households
in the bottom 50% are left
competing for homes with
residents whose purchasing
power is $100,000 greater.
Nashua’s housing stock is
predominantly single-family.
Single family housing comprises
86% of the residential land area
in Nashua. These units comprise
52% of all housing units in the city.
Buildings with less than 10 units
account for 93% of residential land
area and 74% of all housing units.
Home values in Nashua are
rising, rapidly. The demand for
owner-occupied housing units
in Nashua has driven prices up
significantly over the last ten
years. From 2010 to 2019, home
values have appreciated 19%. The
median sales price for a newly
constructed home in Nashua
is $407,439 while the median
sales price of an existing home is
$321,198.
“We know that housing
in Nashua is becoming
increasingly unaffordable for
more and more residents and
that not only is that impacting
the beautiful diversity of the
city but it’s leading to a rise
and associated social costs of
homelessness.”
“T believe that this is a once and
a lifetime opportunity to develop
housing that is affordable.”
- Public Meeting
Rent and Purchasing Capacity of Nashua Households
Household
Income
$100,000+
Upper
$50,000-$74,999
Moderate
$0-$19,000
Lower
Source: ACS 2018, Housing Study
116
$75,000-$99,999
$35,000-$49,999
$20,000-$34,999
Maximum Affordable
Households Rent Range
34% 12,259 eno’,
ash 5,431 see - $2,500
16% 5,816 $1,250 - 1,875
ahs 4,017 ss - $1,250
$500 - $875
12% 4,411 —s
$0 - $500
12% 4,430 yak
Home Purchasing
Power
$331,000+
$249,000-$331,000
$166,000-$249,000
$116,000-$166,000
$66,000-$116,000
$0-$66,000
