Property Management in Merrimack, New Hampshire
This New England town was officially founded in 1746, although the area had been inhabited long before by both Native Americans and early European settlers, due to the Merrimack River’s fresh water supply and abundant sturgeon. Though the area was originally part of Massachusetts, the state boundary was revised in 1746 and the town became part of New Hampshire.
An Historic Town with a Bright Future
Agriculture was the main stay of the local economy during the town’s early days. With the invention of the automobile and the construction of modern highway systems, the city became an important bedroom community of the Boston metro area in the early 1960s. The city is a welcome mixture of new and old. It has two historic landmarks that are connected with Matthew Thornton, an early resident of Merrimack, who was one of the signers of the Declaration of Independence. The first is known as the Signer’s House, which is a two-story home Thornton lived in from 1780 to 1797. The second is his burial site, which is located across from the house in the Thornton Cemetery. For the modern minded, the city offers great shopping at the Merrimack Premium Outlets, an outdoor mall that has over 100 stores and is located near I-93.
Property Management and Real Estate in the Community
The city has several features that make it an attractive property management community. First, town’s 25,660 residents are mostly white-collar workers, with over 86% involved in professional, upper-level jobs. Approximately 27% work in sales, offices and administrative support, while 12% work in management. Also, the town’s citizens are a well-educated group, with over 44% having completed college. The high value on education helps to make the local school district very strong. The district’s average spending on students is $15,415, much more than the U.S. average of $12,383. The student to teacher ratio is 13 to 1, also better than the national rate. Another positive feature is the town’s low crime rate. Violent crime is 6.4%, much lower than the U.S. average of 22.7%. Property crime is also low. The town has an 18.4% rate while the U.S. rate is 35.4%. The local economy is also healthy, with a low unemployment rate of 2.5%, much lower than the U.S. rate of 3.9%. The job market has grown 2.1% in the last year. This all results in the citizens having above-average incomes, with the family median income being $107,191 annually, while the U.S. average is $70,850. Finally, the area has a healthy real estate market. Over 85% of the town’s residents own their homes, while just under 15% are renters. Most of the homes were constructed from 1970 to 1999 with over 70% of these being single-family homes. The median value of a home in the town is $341,772. The median rent is $2022. Call us for a comprehensive market analysis of your rental property.