Rent or buy in Manchester? Renting is $1,332 a month cheaper.
Renting the typical home in Manchester costs $1,332 less a month than owning it. Even counting equity and price growth, buying does not come out ahead of renting and investing the difference within 30 years under our baseline assumptions.
Updated September 26, 2026 · Zillow data for August 2026 · 7.03% mortgage rate (Freddie Mac, September 24, 2026) · Rank 170 of 340 (1 = owning closest to renting) · Part of our 2026 rent vs. buy study
Monthly cost to own$3,426typical home, 20% down
Typical monthly rent$2,094Zillow, August 2026
Buying breaks even30+ years3.5% price growth
Cash needed to buy$101,456$441,115 home · 20% down + 3% closing
Income needed to own$137,051vs. $83,760 to rent · 30% rule
Where the monthly money goes.
The first-month cost of owning the typical Manchester home, split into its parts, against the typical rent. About $288 of the first mortgage payment is principal, which you keep as equity.
The median household income in Manchester is $81,007 (Census ACS 2020–2024). Owning the typical home would take 51% of it; renting would take 31%.
As a check with a larger rental, HUD's FY2027 Fair Market Rent for a three-bedroom home in the Manchester, NH HUD Metro FMR Area area is $2,583 a month, still $843 below the cost of owning.
Own
$3,426
Rent
$2,094
Mortgage principal & interest $2,355
Property tax $595
Home insurance $108
Maintenance $368
How long you would need to stay.
Net worth of a buyer compared with a renter who invests the down payment, closing costs and any monthly savings at 6% a year. Home values and rents grow 3.5% a year; selling costs 6%.
Price is the Zillow Home Value Index and rent the Zillow Observed Rent Index for Manchester. The cost of owning includes principal and interest at 7.03% with 20% down, property tax at the city's 1.62% effective rate (Census ACS), the New Hampshire average homeowners premium (NAIC 2023) and 1% yearly maintenance. It leaves out income-tax effects, HOA dues and utilities. The typical rental may be smaller than the typical home for sale. Full methodology. This is a citywide estimate, not advice about a specific home.