Demographics & Housing Market Conditions
ASSOCIATES INC
Rents
Nashua’s Change in Rent by Unit Type, 2012-2019
RENT FOR ONE-BEDROOM UNITS IS UP OVER 40%. Source: Rent Jungle, 2012-2078
According to data from Rent Jungle, since 2012 rents for one- $1,700
Demographics & Housing Market Conditions
Rents
Rental Units by Age of Structure
Source: ACS 2018
Age Units
Built 2000 or later 1,508
Built Between 1980 and 1999 4,395
Built Between 1960 and 1979 4,491
Built 1959 or earlier 6,137
% of Total
9%
27%
27%
37%
MOST RENTAL UNITS ARE IN BUILDIGS BUILT 40 YEARS AGO.
Demographics & Housing Market Conditions
Rents
RENTS ARE RAPIDLY INCREASING IN NASHUA.
Gross rent, which is rent plus utilities, has
increased 19% over the last five years to a high
of $1,287 per month.
2018:
Median Gross Rent
$1,287 per Month
Nashua Housing Study - 25
Change in Gross Rent 2013-2018
Source: ACS 2013 and 2018
50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
Less than $500 $500 - 999 $1,000-$1,499 $1,500 -$1,999 $2,000 or
Greater
Demographics & Housing Market Conditions
Home Values & Sales
THE NUMBER OF HOMES SELLING FOR OVER $250,000 HAS
MORE THAN TRIPLED SINCE 2010.
Demographics & Housing Market Conditions
Home Values & Sales
ASSOCIATES INC
Average Days on Market
Source: MLS 2010-2019
Comparison of Existing Home Sales to New Home Sales
Source: MLS 2010-2019
$450,000 2010 i 35
$400,000 eeeeerrr—(tis‘“(:‘CSCSCS
$350,000 2012 is 42
$300,000
2013) i ;
$250,000 2014 a 3:
$200,000 5015 50
Pe
$150,000
2016 x is
$100,000
2017 i 11
§50,000
$0 2018 10
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Demographics & Housing Market Conditions
Home Values & Sales
HOUSES PRICED GREATER THAN $250K COMPRISE THE GREATEST SHARE OF HOME
SALES IN NASHUA.
Approximately 75% of Nashua’s owner-occupied housing stock is valued at or
above $200,000, which aligns with stakeholder conversations with real estate
professionals and developers/builders. According to MLS sales data from
2019, 91% of sales occurred in this price range as well.
Demographics & Housing Market Conditions
Demographics & Housing Market Conditions
Vacancy
ASSOCIATES INC
HOUSING VACANCY IN NASHUA IS EXTREMLY LOW. Vacant Housing Units by Category 2013 & 2018
In 2018, 3.1% of Nashua’s housing stock was Source: ACS 2013, 2018
classified as vacant. This was down from 4.2%
five years ago. Nashua’s vacancy rate (number
of units actively listed for rent or sale) was 1.1% 1,075
in 2018. A healthy vacancy rate for a community
is typically between 3% and 5%. 1,000
1,200
Demographics & Housing Market Conditions
Percent of Renter Households source: acs 2018 1M
Housing Stock
BLOCK GROUPS WITH HIGHER PERCENTAGES OF
RENTERS ALSO HAVE LOWER MEDIAN INCOMES.
Block groups in Nashua where renter households comprise 75%
or more of all households have an average median income of
$31,400 which is less than half the City’s median of $73,000.
Several block groups have median incomes of just over $20,000
which is below the federal poverty line of $26,200.
Demographics & Housing Market Conditions
Housing Tenure
ASSOCIATES INC
Housing Tenure 2018 Change in Households by Tenure and Size 2013 - 2018
Source: ACS 2018, 2010 Census Source: ACS 2013, 2018
4% Owner- oe
e 60%
O Occupied
40%
22%
20% 12% 9
Oo, Renter “% We ox
e 0% = 7 = =
0 Occupied “4% LJ 4% 4%
-20% -13%
-40%
THE SHARE OF OWNERSHIP HOUSING IN NASHUA HAS BEEN DECLINING,
BUT VERY SLOWLY. -60%
