Manchester-Nashua Market Ranked No. 1 In U.S. By WSJ And Realtor.Com

By NH Journal

With housing prices hitting new records month after month, it may be counterintuitive, but it’s true: Manchester-Nashua, N.H., has been named the top housing market in the country in the Summer 2025 Housing Market Ranking by The Wall Street Journal and Realtor.com.

The joint analysis identifies housing markets that offer a strong balance of quality of life and projected home price appreciation. Manchester-Nashua took the top spot among 200 metropolitan areas evaluated across real estate trends, economic health, and lifestyle indicators.

“We are thrilled to see that we have once again been recognized as America’s top housing market,” said Manchester Mayor Jay Ruais, who is running for reelection in November. “This affirms our ongoing commitment to enhancing the quality of life for our residents while expanding economic and housing opportunities. While we celebrate this, we know there is more work to be done.”

The ranking’s findings reflect a broader trend. While for-sale inventory improved in many areas, housing costs remain the biggest barrier to home sales, not availability. That dynamic is driving buyers toward more attainable markets—many of them mid-sized communities in the Northeast and Midwest.

Joining Manchester-Nashua in the top 10 were:

1. Manchester-Nashua, N.H.
2. Canton-Massillon, Ohio
3. Springfield, Mass.
4. Toledo, Ohio
5. New Haven-Milford, Conn.
6. Lansing-East Lansing, Mich.
7. Worcester, Mass.
8. Appleton, Wisc.
9. Rockford, Ill.
10. Hartford-West Hartford-East Hartford, Conn.

The WSJ-Realtor.com Housing Market Ranking draws on eight weighted indicators—ranging from median listing price trends to unemployment, wages, climate risk, and amenities. The report uses the latest U.S. Census and Office of Management and Budget data to evaluate economic conditions and quality of life, with real estate factors making up 60 percent of the final score.

Gov. Kelly Ayotte, who made housing a major push of her legislative agenda this session, was also happy to hear the news.

“There’s no better place to call home than New Hampshire, and the work we’ve done this year will help our economy continue to thrive. From establishing a lean, 60-day permitting process, to expanding ADUs, to converting unused commercial space to workforce housing, I’m proud of what we accomplished. We’ll continue cutting red tape and expanding partnerships between the state, local government, and the private sector to make our state an even better place to live.”

Still, home prices in New Hampshire continue to set records. According to the New Hampshire Association of REALTORS (NHAR), the median price for single-family residential homes hit an all‑time high of $566,250 in June 2025, up about 4.9 percent over June 2024’s previous record of $540,000.

Housing has emerged as a dominant political issue in the Granite State. A recent New Hampshire Journal/Praecones Analytica poll found housing to be the top concern for voters—especially among independents. A separate March 2025 survey revealed strong bipartisan support for a slate of pro-housing bills, including zoning reforms, support for accessory dwelling units, and efforts to reduce mandatory parking requirements.

Mayor Ruais touted Manchester’s recent housing achievements, including a range of new developments and affordability initiatives:

• 535 Certificates of Occupancy issued in 2024, with 600 new dwellings brought online.
• 707 additional units currently under construction.
• More than 300 affordable units coming online, with support for projects including 40 units of transitional housing and 300 under construction using federal funds.
• Affordable housing approved at the Lamont Hanley Building on Elm Street using 79-E tax incentives.
• Designation as a “housing champion” by the N.H. Department of Business and Economic Affairs.
• A pending citywide zoning rewrite expected this fall to simplify development and boost the housing supply.

Perhaps the best news, says Ruais, is the sale of 16 city-owned properties, raising more than $1.25 million for the Affordable Housing Trust Fund.

“The lots that will be built on are now obviously going to be collecting tax revenue that wasn’t available before,” Ruais said. “But we know more needs to be done.”

Democrat Jessica Spillers, the Manchester school board member who filed at the last second to prevent her party from not fielding a candidate in the mayor’s race since the Civil War, did not respond to a request for comment.

Housing is not mentioned on her campaign website, which still features the headline “Re-Elect Jessica Spillers 4 School Board.”

The full Wall Street Journal/Realtor.com report is available at dowjones.com.

This story was originally published by the NH Journal, an online news publication dedicated to providing fair, unbiased reporting on, and analysis of, political news of interest to New Hampshire. For more stories from the NH Journal, visit NHJournal.com.