ZIP Code 03840 Housing Market

📝 Local Market Notes

ZIP 03840’s housing price index has risen sharply over the past five years, moving from 197.38 in 2021 to 295.26 in 2025—a cumulative increase of roughly 49.6 % and an average annual gain of about 8.4 %. The year‑over‑year change for 2025 was +7.61 %, markedly higher than the Rockingham County average of +4.54 % and the New Hampshire statewide average of +3.11 %. This divergence indicates that the ZIP is experiencing stronger price pressure than its surrounding areas, likely reflecting localized demand factors such as limited inventory or desirability of specific amenities within the ZIP. The parent county’s ACS 5‑year estimates show a median home value of $497,500, median gross rent of $1,687 per month, median household income of $118,331, and an owner‑occupancy rate of 78.4 %. Combined with ZIP 03840’s HPI of 295.3 (well above the county’s median HPI range), these figures suggest a sub‑market characterized by higher‑priced, owner‑occupied single‑family homes rather than entry‑level or renter‑dominated segments. The elevated income level supports the capacity to sustain premium prices. For prospective buyers or residents, the key takeaway is that ZIP 03840 currently commands a premium relative to both county and state benchmarks, with recent appreciation outpacing broader regional trends. Buyers should anticipate higher purchase prices and consider the area’s strong owner‑owner base and relatively affluent demographic when evaluating affordability and long‑term housing costs. No forward‑looking statements are made; the assessment is strictly based on the observed data.

Based on FHFA House Price Index data.