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Hillsborough County, NH

Manchester

RANK #577 / 996 NAT  ·  POP 422,733

1YR FORECAST: +1.1%

5YR OUTLOOK: +22%

Hillsborough County's housing market is projected to grow +1.1% over the next year, below the national average.

[01] Why Hillsborough County?

Hillsborough County, New Hampshire, is defined by its blend of urban centers and natural landscapes, with its two county seats, Manchester and Nashua, serving as the state's largest cities. Located in south-central New Hampshire, bordering Massachusetts, the county offers a commute to Boston that typically takes around 1 hour and 24 minutes by car. Residents have access to extensive outdoor recreation, including hiking trails at Mount Monadnock State Park, one of the most climbed mountains globally, and Miller State Park. The county's geography features a hilly upland region with rivers and numerous small lakes.

Life in Hillsborough County balances suburban and rural living, attracting families and commuters. The public school systems in towns like Bedford and Amherst are considered above average. While many residents drive alone to work, carpooling and bus services are available. The economy, historically rooted in manufacturing and healthcare, is working to diversify. Efforts are underway to attract new businesses and industries through incentives and infrastructure investment, aiming to broaden job opportunities beyond traditional sectors.

[02] Market Snapshot

Housing Ratio
4.9x

Above national median (4.7x)

GDP Growth
+0.5%

Well below national median

Home Prices
+2.6%

Outpacing national median

Climate & Terrain
0.1

Moderate climate & terrain

Price/Rent
14x

Above national median (13x)

Housing is fairly valued at 4.9x relative to local economic output. The typical U.S. county is 4–6x.

[03] Top Employers

  1. 1
    Southern New Hampshire University (SNHU) Education
    5,000+
  2. 2
    Elliot Health System Healthcare
  3. 3
    BAE Systems Manufacturing
    2,500+
  4. 4
    Saint Anselm College Education
    1,000+
  5. 5
    Fidelity Investments Finance
  6. 6
    Anheuser-Busch Manufacturing
  7. 7
    Velcro Companies Manufacturing
  8. 8
    DEKA Research & Development Technology
  9. 9
    OSRAM SYLVANIA INC Manufacturing
    500+

Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.

[04] Home Value Growth vs National

Hillsborough County U.S. National

The Numbers

DEMOGRAPHICS
Population
422,733
+0.53% YoY
Median Household Income
$95,112
Median Home Value
$356,200
+2.6% 12mo
Median Rent
$1,444
Average Annual Pay
$79,660
+3.3% YoY
Employment
201,342
-0.3% YoY
Income-to-Home-Value
0.267
More affordable than average
Migration Inflow
1.76%
of pop. from another state
Bachelor's Degree+
40.2%
of residents (national avg: 33%)

Market Activity

REAL ESTATE
Median Sale Price
$500,000
Days on Market
34
Active market
Months of Supply
2.1
Seller's market
Sale-to-List Ratio
101.1%
Homes selling above asking
Sold Above List
51.4%
Listings w/ Price Drops
12.7%
Building Permits (2024)
872
Single-Family Permits
427

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Crime & Safety

A
SAFETY
GRADE
Homicide Rate
1.6
per 100K · nat avg 6.3
Firearm Fatalities
9.8
per 100K · nat avg 14.8
Injury Deaths
88.2
per 100K · nat avg 76.3
vs National Average
Well below national avg
based on homicide rate

Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →

[06] Air Quality

B
AIR QUALITY
GRADE
Median AQI (3yr)
38.3
Good
Good Air Days
88%
962 of 1,095 days
Unhealthy+ Days (3yr)
7
Sensitive groups affected
Primary Pollutant
Ozone
Ground-level ozone
Yearly Trend
2021
37
2022
39
2023
39
Median AQI · lower is better

Source: EPA Air Quality System (2021–2023). Grade based on 3-year average median AQI. Learn about AQI →

[07] Score Breakdown

GDP Growth +0.5% 11 percentile
Population Growth +0.5% 54 percentile
Income Growth +9.4% 71 percentile
Vacancy Rate 0.5% 94 percentile
Home Price Change +2.6% 66 percentile
Rent Growth +3.5% 59 percentile
Price/Rent 14x 43 percentile

Bars show percentile rank among all 996 counties.

[08] Frequently Asked Questions

Is Hillsborough County, NH a good place to move to?

Hillsborough County scores 42/100 on the Boom Town Index, landing in the middle of the pack among 996 U.S. counties (#577). Median household income is $95,112 and job growth is running at -0.3%. The data points to a county with mixed signals — some positive indicators alongside areas that lag faster-growing peers.

Is Hillsborough County affordable?

Housing in Hillsborough County is roughly in line with national affordability norms. The median home costs $356,200 and the income-to-home-value ratio sits at 0.27, with rents averaging $1,444/month. Not a bargain, but not a stretch for most local earners either.

Is Hillsborough County growing or shrinking?

Hillsborough County's population is growing — up +0.5% YoY — while the job market is roughly flat (employment change of -0.3%). Home values shifted +2.6% over the past year. In-migration is outpacing local hiring, which often points to remote workers or retirees driving the headcount.

Are many people relocating to Hillsborough County?

Not particularly — 1.76% of Hillsborough County's population moved in from another state, which is below the national average. Most residents are long-term locals rather than recent transplants.

[09] Similar Counties by Size & Score

Merrimack County, NH 36 Grafton County, NH 36 Cheshire County, NH 53 Carroll County, NH 56 Belknap County, NH 64 Strafford County, NH 19 Yavapai County, AZ 42 Doña Ana County, NM 42