01944, Manchester, MA

The 1944 zip code of Manchester, MA includes approximately 116,000 residents. The median home value in this zip code is $114,900, and the median household income is $48,000. Approximately one-third of households in this zip code own their homes outright, and another third are homeowners with a mortgage. The remaining third of households rent their homes.

Manchester has experienced strong home equity growth over the past several years. The average home value in Manchester increased by 28% from 2012 to 2016, which is faster than the national average rate of growth (24%). In addition, the average home value in Manchester has grown faster than any other Massachusetts zip code over that time period. This strong demand for housing in Manchester likely contributes to these high home values and incomes.

Despite these high prices and incomes, there are some areas of concern for homeowners in Manchester. One issue is that the city's population is growing rapidly (by about 20% since 2010), which could lead to increased competition for housing and drive down prices. Another potential issue is that interest rates have been relatively low recently (below 3%), which could make it difficult for many homeowners to afford their mortgages if rates increase significantly in the future.