Issues and Opportunities
Downtown Nashua Percent Renter Households, 2018 | source: acs 2018 % Renter Households
0% - 23%
RENTER HOUSEHOLDS ARE MORE ~~ 24% - 49%
PREVALENT DOWNTOWN THAN ‘| (fi. % , GED 50% - 74%
f v ne GED 75% - 95%
ELSEWHERE IN THE CITY.
Issues and Opportunities
Downtown Nashua
DOWNTOWN CONTAINS A DIVERSITY OF
HOUSING TYPES.
Downtown Nashua, like many downtowns within
larger cities, contains a mix of housing types in
buildings ranging from single-family homes to
small infill buildings with 4-9 units to larger
scale multi-family and mixed-use buildings.
Issues and Opportunities
Downtown Nashua
DEFINING THE DOWNTOWN AREA.
To identify the statistics relative to
Downtown Nashua and the surrounding
neighborhoods, RKG chose 20 Census Block
Groups that generally cover the area within
one-mile of Main Street in Downtown.
ASSOCIATES INC
Downtown Census Block Groups source: US Census, RKG Associates
These Block Groups also hold the highest f . V\ gm
" Canalis
concentrations of renter households, lower
Issues and Opportunities
ISSUE & OPPORTUNITY AREA 3
DOWNTOWN NASHUA
RKG
Nashua Housing Study - 43
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
Issues and Opportunities
Financial Resources of Homebuyers and Renters
THE MARKET FOR AFFORDABLE RENTAL UNITS IS TIGHT AT THE
LOW END OF THE INCOME SPECTURM.
For extremely low-income renter households, the supply of
affordable and available units is tight. There are 2,943 more
households than available affordably priced units. Nearly
14% of occupied rental units have rents below $750 a
month, illustrating the degree to which some Nashua
residents rely on affordable housing that matches their
incomes.
Issues and Opportunities
Financial Resources of Homebuyers and Renters
ASSOCIATES INC
Supply and Demand for Affordable Homeownership Units, City of Nashua
Source: HUD 2020, ACS 2018
THERE ARE MORE POTENTIAL BUYERS IN HIGHER INCOME BRACKETS 10,000
THAN THERE ARE HOUSING UNITS THAT MATCH THEIR PRICE POINTS.
For households earning at or below 30% of AMI, there are 769 9,000 8,956
more households than there are housing units. Only 10% of owner-
occupied units are valued at less than $99,430. Many of these
Issues and Opportunities rt
Financial Resources of Homebuyers and Renters
ASSOCIATES INC
Housing Affordability for Nashua Households, 2018
Source: HUD 2020, ACS 2018, RKG Associates
ACCESS TO QUALITY AFFORDABLE HOUSING IS CRITICAL. Affordable Affordable
Issues and Opportunities
Financial Resources of Homebuyers and Renters
RECENT HOME SALES ILLISTRATE MARKET DYNAMICS.
Home sale prices vary from neighborhood to neighborhood in Nashua with
the highest home sales prices found in the newest neighborhoods at the
periphery of the city. Homes in these neighborhoods tend to sell for over
$500,000.
Issues and Opportunities
Financial Resources of Homebuyers and Renters
NASHUA HAS VERY DISTINCT BREAKS FOR HOUSEHOLD
INCOME AND HOME PURCHASING POWER.
Based on the data collected and analyzed for Nashua, it
appears there are three distinct groups of home buyers
and renters in the city: upper income buyers and renters,
moderate income, and lower income. The upper income
group accounts for 49% of all households, while the
moderate or middle-income comprise about 27%, with the
lower income households accounting for 24%.
