Issues and Opportunities
Financial Resources of Homebuyers and Renters
ASSOCIATES INC
HOUSEHOLDS IN NASHUA. Source: ACS 2013, 2018
The increase in older householders (those over 65 years of age) is not only 1,000
leading to changes in total population, but it is also changing the income 919
dynamics in Nashua. Between 2013 and 2018 there were 526 additional
households headed by a person over the age of 65 that was also earning
over $100,000 a year. There were 919 additional households headed by a
person between 44 and 64 earning over $100,000 a year.
Households
800
These households, particularly the 65 and older households, are a rapidly
growing share of new renter households in Nashua. Between 2013 and 2018
there were 419 additional renter households and 522 owner households 600
headed by a person age 65 and older. With many of these new households 526
bringing incomes in excess of $100,000, it means they can afford housing at
a higher price point than many other households in Nashua. 437
If these new senior households choose to rent or purchase housing at their #00
level of affordability (30% of annual household income), they could afford
rents of $2,500 a month or more and purchase prices of $331,000 or more.
Households headed by residents ages 45-64 have even higher incomes, with
nearly 700 additional households earning $200,000+ annually. 200
At the same time, there has been a decrease in households headed by a
person 25-64 and earning less than $50,000 a year. Rising housing prices
plus an influx of higher income households could be creating pressure to 0
leave Nashua if housing is not readily available at prices affordable to lower- 10
income households. This may also be hurting the local economy as
residents in prime working years have to live further away and possible find
jobs elsewhere in the region.
-200
Under 25 25-44 45-64 Over 65
Nashua Housing Study - 42
