Agenda

Comprehensive Master Plan

Housing

The City has already done a great deal of ground work via the 2020
housing study, and this master plan endorses its recommendations.

Recommendation 2

Timeframe: Near-term/Ongoing

Update inclusionary Housing
Regulations.

Consider revising the current
Inclusionary Zoning (IZ) policy to
apply city-wide to any residential
or mixed-use development that
exceeds a certain number of units
(e.g. any development containing
10 or more units).

Imagine TEENA

The City will need to
encourage and support more
development to provide

the housing that is clearly
needed to support our current
and future residents and
businesses.

Implementation Report Card
Baseline —> 2030 Target

Housing units (increase from
base) - Housing Study
34018 —>39018

Housing affordability: cost
burden - rental
41% —>38%

Housing affordability: cost

burden - owner
26% —>22%

118

Rents are also increasing in
Nashua. Over the last five years,
median gross rent rose 19% to

a high of $1,287 per month. The
number of rental units priced
between $1,500 - $1,999 range
grew 24% in five years, the fastest
of any rent range. Rent growth has
been driven by demand for smaller
units, typically 1- bedroom units.

Downtown Nashua should

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.

Comprehensive Master Plan

Housing

Planning for future housing should not be in isolation of other factors,
but with access to opportunities, transit, and amenities in mind.

This has impacts on affordability,
ability to pay for housing, and
concentrations of lower income
households in certain parts of the
city.

Imagine TEENA

Housing Stats
(based on 2018 data)

Median Household Income:
$321,300

Median gross rent: $1,287
75% of Nashua’s owner-
occupied housing stock is

valued at or above $200,000

41% Cost Burdened Renter
Households

3.1% of Nashua’s housing
stock classified as vacant

age cohort are those residents 55
years and older, driving demand
for smaller units accommodating
single-and two-person
households.

Nashua Today:

Housing

The 2020 Housing Study outlined
five key considerations for housing
in Nashua including: planning for
how and where housing growth
should take place in the city,
expanding access to affordable
housing options across the city,
minimizing displacement of low
income households, employing
strategies to improve the quality
of the housing stock in the
Downtown area, and capitalizing
on strategic partnerships with
housing resources and agencies.

Like many cities in the region, the demand for
housing of all types and price points continues to
rise in Nashua, driving up sales and rent prices
across the city. The effects of rising costs will be
most felt by the city’s vulnerable populations.

Imagine Nashua Is committed to providing a mix
of affordable and quality housing options that
accommodate varying needs of individuals and
families across all of Nashua’s neighborhoods.

Action: Achieve citywide
carbon neutral electricity
by 2050.

Recommendation 1

Timeframe: Near-term/Ongoing

Uphold citywide policy of not
taxing rooftop solar until 2050.

Recommendation 2

Timeframe: Near-term/Ongoing

Have 25% of buildings in Nashua
be solar-powered by 2050.

Recommendation 3

Timeframe: Near-term/Ongoing

ifvetets601) Nashua \

https://imagine.nashuanh.gov

Action: Leverage land use Action: Phase out primary

regulations and zoning fossil fuel systems for
policy to reduce the heating and appliances
climate impact of new and encourage the retrofit
development. of full electrification

of primary sources for

Recommendation 1 existing buildings.

Timeframe: Near-term Timeframe: Mid-term