TurboTenant Report: The Best Places to Buy Rental Investment Property in New Hampshire

map of new hampshire with best cities for rental investment

In this edition of the TurboTenant report, we will be focusing on the best places to buy an investment property in New Hampshire. Three towns made our list: Manchester, Farmington, and Nashua. We curated data from studies on the best places to buy an investment property, median sale prices, and proprietary TurboTenant data. The TurboTenant Data includes stats on the average number of leads a rental property received, as well as the average number of days on the market. These two points will help an investor determine the strength of the rental market, as well as estimating potential vacancy rates. 

Live free or die as they say in New Hampshire! This New England state is beautiful in all four seasons with so much to do year round. Whether it’s hiking, skiing down the East Coast’s largest mountains, or visiting the New Hampshire Motor Speedway, this state is full of activities and opportunities. Once a hub for granite quarries and rocks, the state is seeing employment growth in the insurance, electronics, science, and nature tourism industries – it’s also the first state to hold a primary during the U.S. presidential election and does not have a sales or income tax. New Hampshire has amazing education opportunities from universities, such as, Dartmouth, University of New Hampshire, and Keene State College, to excellent public and private primary schools. It’s also known for its great food including, chop suey and, of course, clam chowder – yum!

It might be the fifth smallest state, but don’t take New Hampshire for granite – let’s take a look at the best places to buy an investment property in The Granite State.

#3: Manchester

Located on the banks of the Merrimack River, the “Queen City,” AKA Manchester, is the largest city in New Hampshire and one of the largest in New England. All roads lead to Manchester as it is home to many of the state’s, historical landmarks and cultural institutions such as the Currier Museum of Art, the Palace Theatre, and the Manchester Monarchs hockey team. With easy access to Boston, New York City, Philadelphia, and Canada, Manchester is a great place to live with many affordable housing options from apartments to single-family homes. Renters, such as, students at Southern New Hampshire University and the New Hampshire Institute of Art can expect an average rent of $1,452. Landlords will quickly fill their properties in two weeks or less with 82 leads per property – man, Manchester sounds great.

  • Population growth: 0.7%
  • Employment growth: 1.4%
  • Increase in home values: 10.3%

Median Sale Price: $247k

Average Rent: $1,452

Average Number of Leads per Property: 82

Number of days on the rental market: 15

#2: Farmington

Farmington’s name is fitting since agriculture and farming have been a vital part of its history. However, three rivers, the Cocheco, the Ela, and the Mad, enabled water-power industries to modernize and progress the town which now thrives in retail, services, and industrial industries. Farmington prides itself on being a safe and nurturing community great for families and children with a myriad of sports, parks, and activities for people of all ages. This is a great town for first-time property investors with a low sale price of $222k and an increase in home values of 6.8%. Everyone wants to live in Farmington which is obvious by the low rent of $898 and a record number of leads for New England -234 per property; landlords should give themselves around a month to fill their properties. Clearly, the “Gateway to the Lakes Region” is also the gateway to success for property investors!

  • Population growth: 0.0%
  • Employment growth: 1%
  • Increase in home values: 6.8%

Median Sale Price: $222k

Average Rent: $898

Average Number of Leads per Property: 234

Number of days on the rental market: 41

#1: Nashua

The Gate City of Nashua is located in southern New Hampshire and is famous for its legacy as a progressive, innovative, experimental, and diverse community. Nashua has a fun historic downtown district, a baseball team, and a great volunteering community – even actress Mandy Moore and singer Ray LaMontagne call Nashua home! Its neighborhoods have a great mix of affordability, housing-types, ethnicities, and architecture – there is truly a neighborhood for every different lifestyle or family which makes it appealing to many renters. Employment growth is steady at 1.8% in Nashua which is strongly associated with health care, technology, and manufacturing. Nashua claims the least number of days on the rental market compared to our other NH towns – only eight days! Landlords will fill their properties in a week with an average of 105 leads per property – sounds good to us.

  • Population growth: 0.6%
  • Employment growth: 1.8%
  • Increase in home values: 4.5%

Median Sale Price: $283k

Average Rent: $1,524

Average Number of Leads per Property: 105

Number of days on the rental market: 8

Once you’ve landed the perfect investment property in a good location, TurboTenant can help take your landlording into the digital world by streamlining the rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.

About the TurboTenant Report

The TurboTenant Report analyzes data from active listings across all 50 states, as well as third party real estate, population and employment growth data. Our goal with the TurboReport is to empower seasoned and novice investors to make wise purchasing decisions when purchasing a rental investment property. For more information or custom data requests, please contact [email protected].


In order to determine the best cities to invest in each state, we curated data from a number of reputable sources as well as using TurboTenant proprietary data. Our main city selections were taken from a study that evaluated four main factors for each city: employment growth, population growth, increase in home values and rental yield. We combined that with TurboTenant data on the average rent price, the number of rental leads per property, as well as the average number of days the rental stays on the market.

We also included an honorable mention where applicable. They are pulled from this study on the best places to invest in every state. These were determined using Zillow’s Buyer-Seller Index and Zillow Home Value Forecast, and AreaVibes’ Livability Score. Other methods for determining honorable mentions include using TurboTenant proprietary data to determine which cities return the best rental investment R.O.I. using data points including days on market, the number of leads per property, and average rent price.

DISCLAIMER: TurboTenant, Inc does not provide legal advice. This material has been prepared for informational purposes only. All users are advised to check all applicable local, state and federal laws and consult legal counsel should questions arise.


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