Total monthly cost of ownership
Cost to Own a Home in Manchester, New Hampshire
A $336,000 home here costs
$2,940per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $126,000 a year.
A standard mortgage calculator would have told you $1,861. The real number is $1,079 higher every month, 58% more than the payment most buyers budget for.
Compare Hillsborough County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Manchester against Hillsborough County and New Hampshire
| Measure | Manchester | Hillsborough County |
|---|---|---|
| Median home value | $336,300 | $385,500 |
| Median property tax | $5,800 | $6,791 |
| Effective tax rate | 1.725% | 1.762% |
| Median gross rent | $1,465 | $1,532 |
| Population | 115,415 | 424,732 |
The weather behind that power bill
Manchester sits in Hillsborough County, which averages a high of 83.4°F in its hottest month and a low of 14.3°F in its coldest, with 46.04" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 546 cooling and 6,825 heating degree days, which is what sets the $165 electricity line above.
See the full climate breakdown for Hillsborough County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hillsborough County
Full Hillsborough County cost breakdown · Every county in New Hampshire
Talk to someone who works this market
These are Manchester averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Manchester every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Manchester I already own here and may sell
Common questions
How much does it cost to own a home in Manchester?
A $336,000 home in Manchester, New Hampshire costs approximately $2,940 per month with 20% down at 7.4%. That is $1,861 principal and interest, $483 property tax, $83 homeowners insurance, $233 utilities and $280 set aside for maintenance.
What is the property tax rate in Manchester?
Manchester has an effective property tax rate of 1.725%, based on a median home value of $336,300 and median real estate taxes of $5,800. That is lower than the Hillsborough County average of 1.762%.
What is the average home price in Manchester?
The median owner-occupied home value in Manchester, New Hampshire is $336,300, against $385,500 across Hillsborough County.
Is it cheaper to rent or buy in Manchester?
Median gross rent in Manchester is $1,465 a month, against $2,940 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Manchester?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Manchester, New Hampshire at today's rate takes a household income of roughly $126,000 a year. That covers the full $2,940 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Manchester, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for New Hampshire.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.