Financial Resources of Homebuyers and Renters
Upper
Moderate
Lower
| |
ASSOCIATES INC
Renting and Purchasing Capacity of Nashua Households, 2018
Source: ACS 2018, RKG Associates
Household
Income
$100,000+
$75,000 - $99,999
$50,000 - $74,999
$35,000 - $49,999
$20,000 - $34,999
$0 - $19,999
Households
% #
34% 12,259
15% 5,431
16% 5816
11% 4,017
12% 4411
12% 4,340
Maximum Affordable
Rent Range
S?,500+
Rents
ASSOCIATES INC
Change in Gross Rent 2013-2018
Source: ACS 2013 and 2018
50%
RENTS ARE RAPIDLY INCREASING 45%
IN NASHUA. 40%
¢ Median Gross Rent increased
19% from 2013-2018
2018:
Median Gross Rent
$1,287 per Month e
25%
35%
20%
15%
10%
5%
0% LJ
Less than $500 $500 - 999 $1,000-$1,499 $1,500 -$1,999 $2,000 or
Greater
m@2013 02018
Over the last five years, rents in the $1,500 to $1,999
range increased by 136%
Financial Resources of Homebuyers and Renters Home Sale Prices in Nashua, 2010-2019 source: mis 2010-2019 AN,
Comparison of Existing Home Sales to New Home Sales
Source: MLS 2010-2019
$450,000
$400,000
$350,000 MLS Sale Price Range
$300,000 Less than $200,000
$250,000 $200,001 - $275,000 K a, x Up if ye,
$275,001 - $350,000 eeeN ~~) |}
$200,000 Sw Cl -
GED $350,001 - $500,000 ae. Wane | \_ ae Ape
a: fe ) QE Kes
$150,000 GED wore than $500,000) PR
$100,000 (Ge w vy \
$50,000 i ee.
KZ, Vy C7 f
Home Values & Sales
HOUSES PRICED GREATER THAN $250K COMPRISE THE GREATEST
SHARE OF HOME SALES IN NASHUA.
According to MLS sales data from 2019, 84% of sales
were for homes priced above $250,000
« The median sales price of a newly constructed home in
Nashua is $407,439 while the median sales value of an
existing home is $321,198
* Home values in Nashua have appreciated by 19% over the
last 10 years
¢« Days on market declined 81% since 2011 to an average of
10 days in 2019
SR
Scala
90%
Income
ASSOCIATES INC
Median Household Income
Source: ACS 2018
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
Median HH Income $50,000
GED S0 - $44,000
GED $44,001 -$71,000 $40,000 $34,511 $33,275
GED $71,001 - $96,500 $30,000
GD $06,501 - $157,000
$20,000
$10,000
$0
White Alone Black or African Asian Hispanic or Latino
American
ISSUE & OPPORTUNITY AREA 2
FINANCIAL RESOURCES OF HOMEOWNERS AND RENTERS
ASSOCIATES INC
Accommodating Future Growth
ASSOCIATES INC
Accommodating Future Growth
ASSOCIATES INC
Total Population Change 2013-2030, City of Nashua
Source: ACS 2013, 2018, EMS!
Accommodating Future Growth
Development Pipeline
Source: City of Nashua, 2020
Permitted, Unit
Not Complete Count % of Total
Detached Single-Family 31 5%
Attached Single-Family 28 5%
3 Units or More 956 90%
Total 615 100%
There are 615 units of housing at different stages in
the development pipeline
90% of the housing units are in structures with three
or more units
159 Temple Street is permitted for 168 units
Bronstein Apartments development is permitted for
Vacancy
HOUSING VACANCY IN NASHUA IS EXTREMLY LOW.
In 2018, 3.1% of Nashua’s housing
stock was classified as vacant
Only 1.1% of all units were being
actively marketed for sale or for rent.
A healthy vacancy rate for a
community is typically between 3%
and 5%
Units
1,200
1,000
800
600
400
200
ASSOCIATES INC
Vacant Housing Units by Category 2013 & 2018
Source: ACS 2013, 2018
1,075
757 733
476
439
