Sell Your Commercial Property In Hillsborough County, NH

Who rents in Hillsborough County

Renters head 55,030 of the 168,740 occupied households in Hillsborough County, New Hampshire, a 32.6% share in the 2020-2024 American Community Survey. Owners hold the larger share, at 113,710 households. Manchester and Nashua, the county's two largest cities, together hold 41,643 renter households, about 75.7% of the county total.

Manchester alone counts 25,233 renter households, a 51.3% renter share inside the city. Nashua follows with 16,410 renter households, a 44.2% share. Both cities run well above the Hillsborough County renter share, which pulls down once the county's smaller towns are added in.

Rents, growth and affordability

Hillsborough County's median gross rent reached $1,623 in the 2020-2024 ACS, up 36.3% from $1,191 in the 2015-2019 survey. Population grew far more slowly, up 3.2% to 426,378 residents, an increase of 13,343 people. Median household income rose 27.1% to $103,545 over the same span.

Rent burden is heavy across Hillsborough County. In the 2020-2024 ACS, 48.2% of county renters paid 30% or more of income on gross rent. HUD's FY2027 two-bedroom Fair Market Rents across the county's 31 towns range from $1,834 to $2,239, effective October 1, 2026, both above the county median gross rent.

Apartment supply has not kept pace with rent growth. Units in buildings of five or more units in Hillsborough County rose only 3.0% over the comparison period, to 36,798 units, a 20.7% share of all housing. Rental vacancy sits at a tight 3.5%, which keeps pressure on asking rents.

City-by-city comparison

Manchester and Nashua post different rent and vacancy profiles. Manchester's median gross rent of $1,564 runs below Nashua's $1,737, even though Manchester carries the higher renter share and the larger share of units in 5+ unit buildings.

Nashua's 1.5% rental vacancy rate sits well below Manchester's 4.9% and below the Hillsborough County rate of 3.5%. A Nashua apartment building can draw a different buyer than a Manchester property given that gap. Both cities carry roughly a third of their housing stock in buildings of five or more units, close to the county figure of 20.7%.

Property taxes and assessment in Hillsborough County

New Hampshire taxes real estate through a single municipal rate that stacks town, local school, state education and county portions, so Hillsborough County itself sets no separate county-wide rate. Each city or town bills its own combined rate once a year.

Under RSA 75:8-a, every town and city in Hillsborough County must reappraise all real estate at full and true market value at least once every five years. An apartment sale this year can feed directly into the next scheduled revaluation in Manchester, Nashua or any other Hillsborough County town.

Because rates vary by town within Hillsborough County, pull the current combined rate and assessed value from the specific city or town assessor before you price a sale, rather than relying on a single county-wide figure.

What this means if you sell in Hillsborough County

When you sell commercial property in Hillsborough County, NH, you are selling into a market with 55,030 renter households and a tight 3.5% rental vacancy rate. Rents rose 36.3% over the past comparison period while the 5+ unit apartment stock grew only 3.0%, so buyers will test your rent roll against that supply gap.

Taxes come next. Buyers underwrite the next RSA 75:8-a revaluation in whichever Hillsborough County town holds the property, not just the current bill. New Hampshire sets no statewide rent control, so rents in Manchester, Nashua and the rest of Hillsborough County move with lease terms and local market conditions.

As a multifamily buyer active across Hillsborough County, we review 5+ unit buildings in Manchester, Nashua and surrounding towns as they stand today. Send a current rent roll, a T-12 and the latest tax bill, and we will price the building on those numbers.