ZIP Code 03225 Housing Market

📝 Local Market Notes

ZIP 03225 in Belknap County, New Hampshire, exhibits a robust upward price trajectory over the last five years. The FHFA Home Price Index (HPI) for this ZIP code has risen from 244.72 in 2021 to 389.51 in 2025, representing a cumulative increase of approximately 59.1%. This sustained growth indicates a market that has consistently outperformed broader regional trends, with the most recent year showing a significant acceleration in value appreciation. The current year-over-year performance of ZIP 03225 stands at +18.74%, a figure that significantly diverges from the Belknap County average of +5.65% and the New Hampshire state average of +3.11%. This substantial outperformance suggests that ZIP 03225 possesses specific local demand drivers or inventory constraints that are not present in the wider county. When compared to nearby ZIPs such as 03254 (+3.23%) and 03220 (+7.66%), ZIP 03225’s growth rate is markedly higher, indicating a distinct sub-market dynamic rather than a uniform county-wide trend. Based on the parent county’s median home value of $374,900 and an owner-occupancy rate of 80.1%, ZIP 03225 functions as a high-demand, owner-occupied residential area. The high HPI level relative to the 2000 baseline suggests that while the area may not be ultra-luxury, it commands a premium over the county median due to localized desirability. With a median household income of $92,783, the market supports strong purchasing power, though the recent price surge may be testing affordability limits. For prospective buyers, the practical takeaway is that ZIP 03225 is a competitive market where price appreciation has outpaced income growth in the immediate term. The 18.74% annual increase suggests that entry costs are rising rapidly, potentially limiting the pool of qualified buyers. Residents should be aware that the current mortgage rate of 7.40% further impacts monthly carrying costs, making the timing of purchase critical in this high-growth sub-market. The data reflects a market characterized by strong equity gains for existing owners but elevated barriers to entry for new purchasers.

Based on FHFA House Price Index data.