Department of Numbers

Manchester New Hampshire Residential Rent and Rental Statistics

The median monthly gross residential rent in Manchester, NH (the Manchester-Nashua metro area) was $1,107 in 2015 according to the Census ACS survey.1 Average gross rent in Manchester was $1,102 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Manchester median and average rent data will be released in September of 2017.

Data is also available below for Manchester rental vacancy rates, Manchester rent as a percent of median income and the fraction of renters in Manchester.

Show dollars as: Nominal Real

Real Gross Rent in Manchester New Hampshire (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
New Hampshire Median Gross Rent $1,017 +2.83% +4.85%
Manchester, NH Median Gross Rent $1,107 +2.41% +7.48%

Manchester, NH Real Gross Rent Trends

Median gross rent for Manchester peaked in real terms in 2008 at $1,116 and is now $9 (0.81%) lower. From a recent low of 1003.0 in 2011, real median gross rent has now increased by $104 (10.37%). At $1,102, real average gross rent in Manchester was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Manchester: Manchester NH Median, Manchester NH Average, New Hampshire Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Manchester

Date US
Median
New Hampshire
Median
Manchester, NH
Median
Manchester, NH
Average
2015 $959 $1,017 $1,107 $1,102
2014 $930 $989 $1,081 $1,089
2013 $898 $988 $1,053 $1,030
2012 $886 $970 $1,030 $1,019
2011 $887 $956 $1,003 $994
2010 $901 $1,002 $1,073 $1,059
2009 $905 $986 $1,052 $1,038
2008 $920 $1,020 $1,116 $1,100
2007 $874 $988 $1,078 $1,072
2006 $883 $997 $1,093 $1,075
2005 $858 $1,006 $1,096 $1,078

Manchester Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Manchester New Hampshire was 3.11% according to Census ACS data.

Rental Vacancy Rate in Manchester New Hampshire

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
New Hampshire 3.36% -1.80% -2.25%
Manchester, NH 3.11% -4.44% -3.86%

Trends in Manchester, NH Rental Vacancy Rate

The rental vacancy rate in Manchester peaked in 2005 at 10.89%. Since then it has fallen by 7.78% to 3.11%. Data records for this series originated in 2005.

Rental Vacancy Rate: Manchester NH, New Hampshire, US

Rental vacancy rate in New Hampshire

Historical Rental Vacancy Rate data for Manchester

Date US New Hampshire Manchester, NH
2015 5.85% 3.36% 3.11%
2014 6.32% 5.16% 7.55%
2013 6.49% 5.14% 4.99%
2012 6.77% 5.61% 6.97%
2011 7.40% 4.33% 4.63%
2010 8.17% 5.28% 6.07%
2009 8.43% 6.89% 6.73%
2008 7.86% 5.84% 4.95%
2007 7.87% 5.28% 5.46%
2006 7.70% 5.23% 5.43%
2005 7.74% 6.85% 10.89%

Rent as a Fraction of Income

Using median household income data for Manchester, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Manchester, median monthly gross rent as a fraction of median household income was 17.87% in 2015 according to the ACS.

Manchester New Hampshire Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
New Hampshire 17.36% -0.57% -0.98%
Manchester, NH 17.87% -0.37% +0.04%

Trends in Manchester, NH Rent as a Fraction of Income

The fraction of median Manchester household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 18.84%. Since then it has fallen by 0.97% to 17.87%.

Fraction of Income towards Rent: Manchester NH, New Hampshire, US

Percent of median household income going towards median monthly gross rent in Manchester New Hampshire

Historical Data for Annual Rent as a Fraction of Income in Manchester New Hampshire

Date US New Hampshire Manchester, NH
2015 20.63% 17.36% 17.87%
2014 20.89% 17.93% 18.25%
2013 20.78% 18.59% 18.84%
2012 20.65% 18.34% 17.84%
2011 20.70% 17.99% 17.75%
2010 20.50% 18.70% 17.90%
2009 20.12% 18.19% 18.14%
2008 19.00% 17.21% 17.34%
2007 18.66% 17.16% 17.26%
2006 18.90% 17.31% 17.06%
2005 18.89% 18.05% 18.32%

Renter Fraction in Manchester New Hampshire

You can calculate the renter fraction in Manchester in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Manchester as a fraction of total Manchester households. In 2015 33.53% of households were renters according to Census ACS data.

Manchester Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
New Hampshire 29.15% -0.63% +0.01%
Manchester, NH 33.53% -0.12% +0.99%

Trends in the Manchester, NH Renter Fraction

The Manchester household renter fraction peaked in in 2013 at 34.43% and is now 0.90% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Manchester NH, New Hampshire, US

Fraction of renters in Manchester

History of Manchester Renter Fraction

Date US New Hampshire Manchester, NH
2015 36.97% 29.15% 33.53%
2014 36.90% 29.78% 33.65%
2013 36.50% 29.85% 34.43%
2012 36.09% 29.14% 32.54%
2011 35.42% 28.54% 33.31%
2010 34.65% 28.32% 31.88%
2009 34.13% 27.46% 31.58%
2008 33.36% 27.67% 30.98%
2007 32.80% 25.89% 29.68%
2006 32.73% 27.92% 29.93%
2005 33.10% 27.00% 30.37%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.