Location: Merrimack County, NH | Metro: Manchester, NH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,520 |
| 1 Bedroom | $1,670 |
| 2 Bedrooms | $2,180 |
| 3 Bedrooms | $2,600 |
| 4 Bedrooms | $2,870 |
| 5 Bedrooms | $3,329 |
| 6 Bedrooms | $3,728 |
| 7 Bedrooms | $4,026 |
| 8 Bedrooms | $4,227 |
U.S. Census Bureau data (2024)
The ZIP code 03045, located in Goffstown, New Hampshire, stands out within Hillsborough County due to its unique demographic and economic characteristics. With a population of 14,080 residents, only 13.0% of whom rent their homes, Goffstown has a strong homeownership culture. The median household income here is $119,205, reflecting a prosperous community. The median home value is notably high at $508,749, indicating that property values are well above the national average.
For landlords and small-portfolio investors, the dynamics of Section 8 vouchers are particularly important. In ZIP 03045, the Fair Market Rent (FMR) for a one-bedroom apartment is set at $1,790 for fiscal year 2024, slightly higher than the market's ZORI (Zillow Observed Rental Index) rate of $1,725. This suggests that landlords participating in the Section 8 program can expect a modest premium over market rates when renting to tenants with vouchers.
The data signature for ZIP 03045 indicates a stable environment. The low percentage of renters and high median income suggest a community where most residents can afford market-rate housing without assistance. However, the presence of Section 8 vouchers still offers an opportunity for landlords to serve those who may need financial aid while maintaining a rental rate close to the market value. Given these factors, the ZIP code appears to be in a stable phase, with little indication of significant changes in the near future.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.