Manchester is is famous for its livability and affordability. There is no state income tax or city sales tax, and the city's economy is robust. The city is also close to a variety of outdoor recreation opportunities. There are plenty of things to do in Manchester, NH. People can hike the White Mountains and relax at Hampton Beach. Some even prefer a steamship cruise on Lake Winnipesaukee. It is easy to explore New Hampshire's beautiful back roads and charming towns for less than a half tank of gas. If you're curious about what's going on in Manchester real estate, read on for a roundup of the latest news and updates.
Quick Facts
- Manchester is the largest city in northern New England.
- Manchester has an average household income of $75,665 and a poverty rate of 13.10%.
- In recent years, the median rental cost has been $1,160 per month, with a median house value of $241,600.
- Manchester is currently growing at a 0.52% annual rate.
- Manchester will have a population of 116,860 in 2022.
Manchester, NH in a Nutshell
Manchester is the largest New England city north of Boston, with a population of around 116,860. It is roughly halfway between two cities: Nashua, the state's second-largest city and retail capital, and Concord, the state capital. While it once had a bad reputation, it has undergone a significant renaissance in the last ten years. Historic textile mill buildings housed tech companies. These converted buildings also became luxury residential lofts and condos. Restaurants have also moved in due to the influx of money from events. The Southern NH Arena and Northeast Delta Dental Stadium gather heavy traffic. Manchester has something for everyone. Living in Manchester and the state of New Hampshire has many advantages.
For one thing, there is no sales or income tax in the state. Granite State also has the lowest poverty rate in the country, at 7.3%. Not to mention that it is also one of the safest and healthiest states in the country. Living in Manchester is more affordable than in other major cities like Boston. Manchester's cost of living is only 8% higher than the national average. This rate, compared to Boston's cost of living, which is 46% higher, is so much better.
Economy
Manchester's economy centers on the healthcare, retail, manufacturing, and education sectors. There are two largest employers in the city. Elliot Hospital has 3,800 employees, and Southern NH University has 3,200 employees. The unemployment rate is 2.7%, which is lower than the national average of 3.9%. Recent job growth is comparable to the US average of 1.6%. Queen City is one of northern New England's largest business and financial centers. This information makes it an ideal place to settle down and start a career. There are plenty of opportunities to work in the offices of Fortune 500 companies. Some companies include Eversource Energy, Northwestern Mutual, and Anthem Blue Cross Blue Shield. Explore career opportunities at software companies headquartered in the Manchester-Nashua metropolitan area. These job opportunities include business software companies Oracle or educational technology company Skillsoft. Job opportunities in healthcare are at Catholic Medical Center or Elliot Hospital. At Southern New Hampshire University, people can work in IT, marketing, or HR. Those looking for a job in a larger city will not have a problem. Many Manchester residents work in Boston or other New Hampshire cities.
Employment
Office and administrative support, sales and related, and management are common occupations. Other typical jobs include food preparation and service-related and production fields. Those looking for work should look at different websites. These websites include indeed.com, simplyhired.com, careerbuilder.com, and snagajob.com. Consult websites to see what jobs are currently available in the city. The Human Resources Department of the City of Manchester advertises job openings. They promote work in technology, public service, science, and construction, among other fields. Elliot Hospital and Catholic Medical Center are among the area's largest employers. The health care and education sectors hire a lot of people. So, residents interested in the financial and health industries will find opportunities fast. There are plenty of options in TD Bank, Citizens Bank, Anthem Blue Cross, and Blue Shield. But, thousands of Manchester residents commute to work in other metro areas. These include Concord and Portsmouth, New Hampshire, as well as Boston.
Real Estate in Manchester, NH
The median sale price for those looking to buy a home in Manchester, NH is around $385,000. Homes are also on the market for about ten days. The median sale price of a single-family home and a condo/co-op in Manchester is around $387,000. The median sale price of townhouses in the Manchester area is $297,000. This rate makes them less expensive than single-family homes. Those not ready to buy a home should consider one of the many apartments for rent in Manchester. According to Zillow, the Manchester housing market is very hot right now. Home appreciation has increased in the last ten years and the previous year. As a result, the median list price for a home is much more affordable. For those looking to rent, a 1-bedroom apartment will cost around $1,077, and a 2-bedroom apartment is about $1,368. Renters account for approximately 47% of the population. Housing in some neighborhoods is less expensive than in others. But generally, the closer you are to the city center, the less expensive housing appears.
Real Estate Trends
Almost everywhere you look, the housing market is thriving. But, some areas sell as fast or faster than other communities. The city remains affordable compared to other hot real estate markets in the country. Home prices are at all-time highs. So, affordability and strong local economies remain a priority for today's buyers. On average, homes in Manchester sell after 37 days on the market, up from 13 days last year. For example, compared to Boston, homes in Manchester sold at a much lower price point. This situation resulted in more out-of-state home buyers entering the community. There were also more out-of-state home buyers telling others about their purchases. As a result, Manchester is becoming one of the hottest housing markets in 2022.
Final Thoughts
Manchester, NH is a beautiful place to live, and the low tax rates are reason enough to move there. Education and property taxes are pretty high in the city, but the 0% state income taxes are appealing. Manchester has one of the lowest crime rates in the country, and residents are safe. The lack of public transportation can be one disadvantage for living in Manchester. City housing prices are generally affordable regardless of where they choose to live. So those thinking about moving to Manchester should have nothing to worry about here. Take advantage of the low tax rates and affordable housing, and many will enjoy this New England gem.
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