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Zip Code 03103

Manchester, NH • Hillsborough County

Real Estate Market Analysis

Q3 2025 Report
$420,000 (Feb 2025, up 5.0% MoM)
Median Home Value
~33,000 (Manchester Wards 8-9, covers 03103)
Population
$62,000 (area estimate)
Median Income
Average (C+ to B-, GreatSchools)
School District Rating

Market Statistics

Property Values

$420,000 (Feb 2025, up 5.0% MoM)
Median Home Value
Approx. $2,100/month (estimate based on area trends)
Median Rent
$270 (estimate, based on recent sales)
Price per Sq Ft

Market Performance

Home Appreciation+5.0% MoM; +3.8% YoY (NH overall)
Market VelocityMedian days on market: 16-29 days (NH: 16 days avg., 03103 likely similar)
Foreclosure RateLow; no significant uptick reported

Area Information

Area SizeUrban/suburban, part of Manchester metropolitan area
CountyHillsborough
Primary CityManchester

Housing Profile

Housing Statistics

Total Housing UnitsApprox. 10,000+ (Manchester city data)
Owner Occupied~45% (estimate, urban area)
Rental Properties~55% (estimate, strong rental market)
Vacant UnitsLow, under 5% (tight inventory)
New ConstructionLimited, mostly infill or small multifamily projects

Housing Types

Single-family homesCondosMulti-family (2-4 units)Apartments

Demographics

~33,000 (Manchester Wards 8-9, covers 03103)
Population
36
Median Age
$62,000 (area estimate)
Median Income
Strong, unemployment under 3% (Manchester area)
Employment Rate
High school grad: 89%; Bachelor's or higher: 27%
Education Levels
Mix of families, singles, young professionals
Family Composition

Education Quality

School District Performance

Average (C+ to B-, GreatSchools)
District Rating
School DistrictManchester School District
Test ScoresSlightly below NH average
Graduation Rates~80%

Schools in Area

  • Jewett Street School
  • Southside Middle School
  • Manchester Memorial High School

Economic Factors

Employment & Business

Job GrowthSteady, 1.5-2% annually
Unemployment Rate~2.8% (Manchester area)
Business EnvironmentDiverse, healthcare, education, manufacturing, retail
Commercial ActivityActive retail corridors, medical offices, service businesses

Major Employers

  • Elliot Hospital
  • Catholic Medical Center
  • Southern NH University
  • BAE Systems
  • City of Manchester

Infrastructure & Quality of Life

Infrastructure

Transportation Access

  • • I-293, I-93, Route 3
  • • Manchester-Boston Regional Airport (nearby)
  • • Public bus (MTA)

Utilities & Services

  • • City water/sewer
  • • Natural gas
  • • Electricity (Eversource)

Quality of Life

Safety & Environment

Moderate; higher than NH average but improving (urban area)

Urban, some air/noise pollution, good water quality

Healthcare Access

  • • Elliot Hospital
  • • Catholic Medical Center

Development Trends

Planned Developments

  • Small multifamily infill
  • Retail/medical office renovations

Infrastructure Projects

  • • Road resurfacing, sidewalk upgrades

Investment Outlook

Growth Outlook

Moderate, steady demand, limited land for large-scale new builds

Investment Opportunities

  • • Small multifamily conversions
  • • Value-add single-family flips

Marketing Intelligence

Target Demographics

  • First-time buyers
  • Young professionals
  • Investors
  • Healthcare workers

Competitive Advantages

  • Lower price point than NH average
  • Urban amenities, strong rental demand

Pricing Strategies

Price slightly below median to attract multiple offers; highlight move-in ready features

Common Objections & Response Strategies

Objection: Higher crime rate than NH suburbs

Response Strategy:

Emphasize community policing, improving trends, and neighborhood watch programs

Objection: Older housing stock

Response Strategy:

Highlight recent renovations, value-add potential, and solid construction

Objection: Average school ratings

Response Strategy:

Point to specialized programs, extracurriculars, and proximity to private/charter options

Professional Recommendations

1

Advise buyers to move quickly on well-priced listings

2

Highlight rental income potential for investors

3

Emphasize recent area improvements and amenities

4

Price listings competitively to drive multiple offers

5

Educate sellers on importance of move-in ready presentation

Competitive Analysis

Comparable Markets

  • 03104 (Manchester North)
  • 03060 (Nashua)
  • 03110 (Bedford)

Market Positioning

Affordable urban alternative with strong rental and resale demand

Competitive Advantages

  • Lower entry price than Bedford/Nashua
  • Higher rental yields than NH suburbs

Price Comparison

03103 median ($420k) vs. NH median ($534k, June 2025)

Investment Metrics

5.5-6.5% (multifamily, 2025)
Cap Rates
6-7% gross yield (area average)
Rental Yields
16-18 (favorable for investors)
Price-to-Rent
Positive cash flow likely on well-bought multifamily
Cash Flow
3-5% annual (moderate, steady)
Appreciation

Buyer Journey Insights

First-Time Buyers

Strong FHA/VA loan options, competitive market, need pre-approval

Move-Up Buyers

Can leverage equity, but face tight move-up inventory

Downsizers

Limited single-level options, but condos available

Investors

Strong rental demand, value-add multifamily attractive

Relocators

Appealing for healthcare/education workers, proximity to Boston

This zip code analysis was generated using comprehensive market data and AI intelligence.

Market conditions change rapidly - consult with local real estate professionals for the most current information.