ZIP Code 03048 Housing Market
ZIP code 03048 is located in Hillsborough County, New Hampshire. Based on the FHFA House Price Index, the most recent annual HPI value is 355.0 (2000 = 100) , with a year-over-year change of +12.80% as of 2025.
📈 03048 HPI Trend
FHFA House Price Index for Five-Digit ZIP Codes (2000 = 100)
📝 Local Market Notes
ZIP code 03048 in Hillsborough County, New Hampshire, exhibits a robust upward price trajectory over the past five years. The FHFA House Price Index (HPI) for the area has risen from 215.59 in 2021 to 355.0 in 2025, representing a cumulative gain of approximately 64.7%. This sustained appreciation indicates a consistent tightening of supply relative to demand, with annual growth accelerating from 2022 through the current period. The recent year-over-year increase of 12.80% underscores the momentum within this specific geographic segment, distinguishing it from broader regional trends. The performance of ZIP 03048 demonstrates significant divergence from both the county and state averages. While Hillsborough County recorded a 4.77% year-over-year increase and the state of New Hampshire saw a 3.11% rise, the ZIP code’s 12.80% growth rate is nearly triple the state average. This substantial outperformance suggests that local factors are driving premium pricing beyond general economic conditions. Compared to nearby ZIP codes 03043 and 03440, which posted increases of 9.84% and 9.13% respectively, 03048 remains the strongest performer, indicating unique desirability or scarcity within the immediate vicinity. The sub-market character of 03048 aligns with a high-value residential segment. With an HPI of 355.0, the area commands a premium relative to the parent county’s median home value of $421,100. The county’s high median household income of $103,545 and 67.4% owner occupancy rate support a market dominated by established homeowners rather than renters. For prospective buyers, the data indicates a competitive environment where entry costs are significantly above regional norms. The 12.80% annual price appreciation, occurring against a backdrop of 7.40% mortgage rates, implies that affordability constraints are likely mitigated by high local incomes, but entry barriers remain steep for outside investors or first-time buyers seeking value.
About This ZIP Code
ZIP code 03048 is one of the most active real estate sub-markets in Hillsborough County, New Hampshire. The FHFA House Price Index tracks cumulative price appreciation since 2000, providing a consistent measure of long-term value change in this specific ZIP area.
For full county-level context, see the Hillsborough County Housing Market page, which includes ACS median home values, rent, owner-occupancy, employment, migration, and other economic indicators.
Other Active ZIPs in Hillsborough County
| ZIP Code | HPI | YoY | Latest Year |
|---|---|---|---|
| 03043 | 294.2 | +9.84% | 2025 |
| 03440 | 327.9 | +9.13% | 2025 |
| 03109 | 335.2 | +7.68% | 2025 |
| 03070 | 291.1 | +5.57% | 2025 |
| 03060 | 314.4 | +8.01% | 2025 |
| 03062 | 308.3 | +3.35% | 2025 |
| 03102 | 328.5 | +2.30% | 2025 |
| 03104 | 312.6 | +7.82% | 2025 |
| 03449 | 258.9 | +7.45% | 2025 |
Data Source: FHFA House Price Index for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100). Data as of 2025. This product uses FHFA Data but is neither endorsed nor certified by FHFA.