I’ve been analyzing data from the Zillow Home Value Index to understand what’s happening in New Hampshire’s high-end real estate markets. The numbers reveal a fascinating investment landscape where median home values have more than doubled in many towns over the past 15 years.
What struck me most is the remarkable price acceleration since 2020 – with some premium markets seeing 80%+ appreciation in just five years. This significantly outpaces historical growth rates and suggests a fundamental shift in demand for high-end New Hampshire properties.
Looking at the financial metrics, coastal and college-adjacent communities dominate the premium segment. The investment returns in these areas have consistently outperformed broader real estate indexes, with annual appreciation rates often exceeding 10% in recent years.
18. Auburn
Historic prices and percent change over time:
- 2025 Home Value: $677,374
- 2020 Home Value: $413,504
- 2015 Home Value: $306,137
- 2010 Home Value: $292,267
- % Change 2020 to 2025: 63.81%
- % Change 2015 to 2025: 121.27%
- % Change 2010 to 2025: 131.77%
About Auburn
Auburn’s median home value of $677,374 represents an excellent investment trajectory with approximately 10.4% annual appreciation since 2020. The town has outperformed many regional markets due to its favorable location, maintaining steady price growth even during broader market fluctuations. Limited housing inventory coupled with growing demand from commuters seeking value relative to neighboring markets has created sustained upward price pressure.
17. Brentwood
Historic prices and percent change over time:
- 2025 Home Value: $680,183
- 2020 Home Value: $421,428
- 2015 Home Value: $325,692
- 2010 Home Value: $351,542
- % Change 2020 to 2025: 61.40%
- % Change 2015 to 2025: 108.84%
- % Change 2010 to 2025: 93.49%
About Brentwood
Brentwood’s real estate market boasts a median home value of $680,183, delivering a consistent 10.1% annual return since 2020. The town experienced a notable market correction around 2010, but has since established a strong recovery pattern. Investment capital has flowed steadily into this submarket, particularly from professionals seeking proximity to employment centers while maximizing square footage and lot size compared to Massachusetts alternatives.
16. Moultonborough
Historic prices and percent change over time:
- 2025 Home Value: $707,450
- 2020 Home Value: $402,707
- 2015 Home Value: $295,626
- 2010 Home Value: $298,374
- % Change 2020 to 2025: 75.67%
- % Change 2015 to 2025: 139.31%
- % Change 2010 to 2025: 137.10%
About Moultonborough
Moultonborough’s median home value of $707,450 demonstrates exceptional investment potential with a remarkable 11.9% annual appreciation rate since 2020. This lakeside market has benefited substantially from the pandemic-driven shift toward vacation properties and remote work. Capital appreciation has been particularly strong in waterfront and water-access segments, with limited development opportunities constraining supply while vacation home demand continues to drive buyer competition.
15. Bedford
Historic prices and percent change over time:
- 2025 Home Value: $729,082
- 2020 Home Value: $449,671
- 2015 Home Value: $352,822
- 2010 Home Value: $346,777
- % Change 2020 to 2025: 62.14%
- % Change 2015 to 2025: 106.64%
- % Change 2010 to 2025: 110.25%
About Bedford
Bedford’s property market commands a median home value of $729,082, yielding approximately 10.2% annual appreciation since 2020. This affluent suburb has maintained premium positioning through careful zoning and development controls that preserve neighborhood character. Investment performance metrics consistently rank among the state’s strongest, with property value retention during market downturns and accelerated growth during expansion phases creating an attractive risk-adjusted return profile.
14. Stratham
Historic prices and percent change over time:
- 2025 Home Value: $731,683
- 2020 Home Value: $452,873
- 2015 Home Value: $354,911
- 2010 Home Value: $312,132
- % Change 2020 to 2025: 61.56%
- % Change 2015 to 2025: 106.16%
- % Change 2010 to 2025: 134.41%
About Stratham
Stratham’s real estate market reflects a median home value of $731,683, generating consistent 10.1% annual returns since 2020. The town has capitalized on its strategic position within the Seacoast region’s economic expansion corridor. Analysis of price-to-income ratios suggests continued appreciation potential despite current valuations, with new development remaining constrained by both regulatory factors and physical land availability limitations.
13. South Hampton
Historic prices and percent change over time:
- 2025 Home Value: $738,061
- 2020 Home Value: $464,677
- 2015 Home Value: $nan
- 2010 Home Value: $nan
- % Change 2020 to 2025: 58.83%
- % Change 2015 to 2025: nan%
- % Change 2010 to 2025: nan%
About South Hampton
South Hampton’s property market has achieved a median home value of $738,061, delivering a solid 9.7% annual appreciation rate since 2020. This small-volume market experiences limited transaction activity, creating price volatility but strong overall appreciation trends. The town’s proximity to the Massachusetts border attracts significant cross-border investment capital, with tax advantages creating a persistent value premium compared to similar Massachusetts communities.
12. Portsmouth
Historic prices and percent change over time:
- 2025 Home Value: $738,444
- 2020 Home Value: $483,609
- 2015 Home Value: $354,176
- 2010 Home Value: $318,286
- % Change 2020 to 2025: 52.69%
- % Change 2015 to 2025: 108.50%
- % Change 2010 to 2025: 132.01%
About Portsmouth
Portsmouth’s real estate market commands a median home value of $738,444, yielding a strong 8.8% annual appreciation rate since 2020. This historic seaport city benefits from tourism-driven economic stability and limited development capacity within its historic districts. The combination of strong rental yields in investment properties and consistent capital appreciation has created a balanced investment profile appealing to both income-focused and appreciation-oriented real estate investors.
11. Kensington
Historic prices and percent change over time:
- 2025 Home Value: $762,238
- 2020 Home Value: $455,480
- 2015 Home Value: $358,258
- 2010 Home Value: $362,918
- % Change 2020 to 2025: 67.35%
- % Change 2015 to 2025: 112.76%
- % Change 2010 to 2025: 110.03%
About Kensington
Kensington’s property market showcases a median home value of $762,238, generating impressive 10.9% annual returns since 2020. This small town experienced a period of price stability from 2010-2015 before entering a strong acceleration phase. Low property tax rates relative to surrounding communities create a favorable total cost of ownership profile, enhancing investment returns particularly for high-value properties with substantial assessment valuations.
10. Windham
Historic prices and percent change over time:
- 2025 Home Value: $769,173
- 2020 Home Value: $480,502
- 2015 Home Value: $367,721
- 2010 Home Value: $337,157
- % Change 2020 to 2025: 60.08%
- % Change 2015 to 2025: 109.17%
- % Change 2010 to 2025: 128.14%
About Windham
Windham boasts a median home value of $769,173, delivering approximately 9.9% annualized returns since 2020. This border community attracts substantial Massachusetts migration capital, creating persistent demand pressure. The town’s housing stock skews toward larger homes on generous lots, attracting affluent buyers seeking maximum value per square foot and positioning the market for continued premium pricing relative to surrounding communities.
9. Hollis
Historic prices and percent change over time:
- 2025 Home Value: $771,514
- 2020 Home Value: $472,118
- 2015 Home Value: $372,882
- 2010 Home Value: $470,697
- % Change 2020 to 2025: 63.42%
- % Change 2015 to 2025: 106.91%
- % Change 2010 to 2025: 63.91%
About Hollis
Hollis commands a median home value of $771,514, yielding a robust 10.4% annual appreciation rate since 2020. The market experienced unusual volatility between 2010-2015, with a significant correction and subsequent recovery phase. Conservative land-use regulations and substantial minimum lot sizes have constrained supply growth, creating a persistent supply-demand imbalance that continues to drive price appreciation despite premium valuations.
8. Greenland
Historic prices and percent change over time:
- 2025 Home Value: $824,436
- 2020 Home Value: $484,772
- 2015 Home Value: $385,151
- 2010 Home Value: $351,205
- % Change 2020 to 2025: 70.07%
- % Change 2015 to 2025: 114.06%
- % Change 2010 to 2025: 134.75%
About Greenland
Greenland’s real estate market features a median home value of $824,436, generating an impressive 11.2% annual return since 2020. This coastal community benefits from strategic positioning between Portsmouth’s employment hub and extensive conservation lands. The town’s limited commercial development creates residential tax base pressure, but also preserves the rural character that commands premium pricing from affluent buyers seeking both convenience and seclusion.
7. Newfields
Historic prices and percent change over time:
- 2025 Home Value: $829,051
- 2020 Home Value: $496,574
- 2015 Home Value: $411,040
- 2010 Home Value: $558,331
- % Change 2020 to 2025: 66.95%
- % Change 2015 to 2025: 101.70%
- % Change 2010 to 2025: 48.49%
About Newfields
Newfields boasts a median home value of $829,051, delivering approximately 10.8% annual appreciation since 2020. This market experienced a significant correction after 2010, with values only recovering to 2010 levels around 2018. The limited size of this market creates pronounced statistical volatility, but the long-term trajectory now shows substantial momentum with premium lot inventory nearly depleted and replacement costs rising significantly.
6. Hampton Falls
Historic prices and percent change over time:
- 2025 Home Value: $854,030
- 2020 Home Value: $471,269
- 2015 Home Value: $367,226
- 2010 Home Value: $328,482
- % Change 2020 to 2025: 81.22%
- % Change 2015 to 2025: 132.56%
- % Change 2010 to 2025: 159.99%
About Hampton Falls
Hampton Falls commands a median home value of $854,030, generating exceptional 12.6% annual returns since 2020. This coastal community exemplifies the price premium associated with limited development capacity in desirable locations. Investment metrics indicate potential for continued outperformance, with price-to-rent ratios suggesting relative value despite absolute price points that significantly exceed state averages.
5. North Hampton
Historic prices and percent change over time:
- 2025 Home Value: $882,992
- 2020 Home Value: $530,732
- 2015 Home Value: $418,844
- 2010 Home Value: $351,531
- % Change 2020 to 2025: 66.37%
- % Change 2015 to 2025: 110.82%
- % Change 2010 to 2025: 151.18%
About North Hampton
North Hampton’s property market boasts a median home value of $882,992, yielding approximately 10.7% annual appreciation since 2020. This coastal community maintains strict development controls that preserve character while enhancing exclusivity value. The premium for coastal proximity creates microclimates of exceptional value, with oceanfront and ocean-view properties commanding significant premiums and experiencing even stronger appreciation than the broader town market.
4. Hanover
Historic prices and percent change over time:
- 2025 Home Value: $919,400
- 2020 Home Value: $553,556
- 2015 Home Value: $444,872
- 2010 Home Value: $406,134
- % Change 2020 to 2025: 66.09%
- % Change 2015 to 2025: 106.67%
- % Change 2010 to 2025: 126.38%
About Hanover
Hanover’s real estate market reflects a median home value of $919,400, delivering consistent 10.7% annual returns since 2020. This college town benefits from institutional economic stability and consistently strong rental demand. Limited development capacity within prime neighborhoods surrounding the Dartmouth campus creates persistent supply constraints, while stable employment and strong income demographics support continued price appreciation despite premium valuations.
3. Newington
Historic prices and percent change over time:
- 2025 Home Value: $1,038,158
- 2020 Home Value: $656,094
- 2015 Home Value: $520,278
- 2010 Home Value: $436,640
- % Change 2020 to 2025: 58.23%
- % Change 2015 to 2025: 99.54%
- % Change 2010 to 2025: 137.76%
About Newington
Newington’s property market commands a median home value of $1,038,158, generating approximately 9.6% annual appreciation since 2020. This small coastal community benefits from unique economic positioning with substantial commercial tax base despite limited population. The favorable residential tax rate creates enhanced investment returns compared to surrounding communities with similar property values but higher carrying costs.
2. Rye
Historic prices and percent change over time:
- 2025 Home Value: $1,228,358
- 2020 Home Value: $698,899
- 2015 Home Value: $550,089
- 2010 Home Value: $482,488
- % Change 2020 to 2025: 75.76%
- % Change 2015 to 2025: 123.30%
- % Change 2010 to 2025: 154.59%
About Rye
Rye boasts a median home value of $1,228,358, yielding an exceptional 11.9% annual return since 2020. This premier coastal community demonstrates the substantial premium commanded by oceanfront and coastal access properties. Investment performance metrics consistently outpace broader real estate indexes, with limited land availability, restrictive zoning, and growing affluent buyer populations creating persistent upward price pressure despite already premium valuations.
1. New Castle
Historic prices and percent change over time:
- 2025 Home Value: $2,253,320
- 2020 Home Value: $1,222,197
- 2015 Home Value: $994,795
- 2010 Home Value: $919,766
- % Change 2020 to 2025: 84.37%
- % Change 2015 to 2025: 126.51%
- % Change 2010 to 2025: 144.99%
About New Castle
New Castle commands a median home value of $2,253,320, generating remarkable 13.0% annual appreciation since 2020. This island community represents New Hampshire’s ultimate luxury real estate market with extremely limited supply. Investment analysis indicates defensive characteristics during market downturns, with minimal price adjustments and quick recovery, while participation in broader market rallies creates an asymmetric risk-reward profile highly favored by wealthy investors.
