Mortgage payment estimates, closing cost breakdowns, and homebuying data for Manchester, New Hampshire.
Median Home Price
$395K
Population
116K
Avg Monthly Rent
$1,620
Property Tax Rate
2.09% *
* Property tax shown is the New Hampshire state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Manchester.
Manchester vs New Hampshire Median
The median home price in Manchester is $395,000, which is 8% below the New Hampshire state median of $430,000.
Mortgage Calculator — Manchester, NH
Pre-filled with Manchester median home price and New Hampshire tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $395K home using New Hampshire's 2.09% tax rate and $1,400/yr insurance.
5% Down
$3,395/mo
Down: $19,750
Loan: $375K
P&I: $2,372
Tax: $688
Insurance: $117
PMI: $219
10% Down
$3,259/mo
Down: $39,500
Loan: $356K
P&I: $2,247
Tax: $688
Insurance: $117
PMI: $207
20% Down (No PMI)
$2,802/mo
Down: $79,000
Loan: $316K
P&I: $1,997
Tax: $688
Insurance: $117
Income needed (28% rule): $120K/year with 20% down, $140K/year with 10% down.
Rent vs Buy in Manchester
Rent
$1,620/mo
vs
Buy (10% down)
$3,259/mo
Price-to-rent ratio: 20.3 — At a ratio above 20, renting may be more economical in Manchester for shorter stays. Buying costs $1,639 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Manchester is $395,000, 8% below the New Hampshire state median of $430,000. With a population of 115,644, Manchester is a mid-size city where home prices tend to be more accessible than in many parts of New Hampshire.
Property taxes in New Hampshire average 2.09% annually. This higher-than-average tax rate means a $395,000 home in Manchester would carry roughly $688/month in property taxes alone — plan accordingly. Homeowners insurance in New Hampshire runs approximately $1,400 per year. This is within the normal range nationally.
Average rent in Manchester is $1,620/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Manchester presents moderate affordability. The $395K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Manchester.