Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Merrimack County | New Hampshire Avg | US Average |
|---|---|---|---|
| Median Home Price | $313,262 | $273,705 | $242,182 |
| Price Trend (Annual %) | 7.3% | 5.1% | 8.2% |
| Median Gross Rent | $1,293 | $1,422 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Merrimack County is about 14% higher than in New Hampshire. Rent is about 9% lower than the New Hampshire average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Merrimack County, up about 7.3% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Merrimack County rose about 37.6% between 2015 and 2023, from $939 to $1,293. Over the same span, rent in New Hampshire rose about 42.2%.
Affordability
On average, housing unit costs 3.3 yearly household incomes in Merrimack County.
Buying the median-priced home in Merrimack County costs roughly 20.2 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Merrimack County. The price-to-rent ratio in New Hampshire is about 16.0.
| Metric | Merrimack County | New Hampshire Avg | US Average |
|---|---|---|---|
| Median Home Price | $313,262 | $273,705 | $242,182 |
| Median Household Income | $93,959 | $96,071 | $78,145 |
| Price-to-Income Ratio | 3.3 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Merrimack County rose about 38.8%, while median household income rose about 50.9% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Merrimack County | New Hampshire Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.2% | 62.0% | 58.2% |
| Rental Rate | 24.2% | 23.5% | 31.3% |
| Vacancy Rate | 8.5% | 14.4% | 10.6% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Merrimack County has a homeownership rate of 67.2%, higher than the New Hampshire average of 62.0%. Its housing vacancy rate is 8.5%, compared with 14.4% in New Hampshire.
Housing Stock
| Metric | Merrimack County | New Hampshire Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.46 people | 2.44 people | 2.54 people |
| Median Structure Built Year | 1973 | 1974 | 1978 |
| Median Number of Rooms | 5.8 | 5.6 | 5.5 |
The typical housing unit in Merrimack County was built around 1973. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Merrimack County, New Hampshire.
What is the median home price in Merrimack County, New Hampshire?
The median home price in Merrimack County, New Hampshire is $313,262, higher than the New Hampshire average of $273,705.
What is the average home price in Merrimack County, New Hampshire?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Merrimack County, New Hampshire?
The median gross rent in Merrimack County, New Hampshire is $1,293 per month, lower than the New Hampshire average of $1,422.
What was the median gross rent in Merrimack County in 2020?
In 2020, the median gross rent in Merrimack County, New Hampshire was $1,066 per month.
What is the price-to-rent ratio in Merrimack County, New Hampshire?
The price-to-rent ratio in Merrimack County, New Hampshire is about 20.2, meaning it would take roughly 20.2 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Merrimack County.
Are home prices or rent rising faster in Merrimack County, New Hampshire?
Both home prices and rent are rising in Merrimack County, up about 7.3% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Merrimack County, New Hampshire?
67.2% of households in Merrimack County, New Hampshire own their home, higher than the New Hampshire average of 62.0%.
What is the vacancy rate in Merrimack County, New Hampshire?
The housing vacancy rate in Merrimack County, New Hampshire is 8.5%, lower than the New Hampshire average of 14.4%.