ZIP Code · NH

ZIP 03038

Part of Derry, NH

Pop. 34,474·Rockingham County·10th most expensive ZIP in New Hampshire

Median rent (all units)

$2,263/mo

Year-over-Year

+4.4%

Month-over-Month

+0.5%

vs US Median

+$331

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 03038 · $2,263

More expensive than 72% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,400

1 BR

$1,550

2 BR

$2,030

3 BR

$2,550

4 BR+

$2,690

Research median

$2,030/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 03038 is at its highest level since Zillow's records here began in December 2022.

Past year vs. the rest of New Hampshire

Rent in ZIP 03038 changed +4.4% over the year to September 2026. Across the 20 New Hampshire ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($108,322) is $2,708 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,690).

Cheaper nearby

ZIP 03103, 9 miles away, rents for 12% less ($1,994/mo), about $3,200 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 03038. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$27,156/yr

At $2,263/mo median

Location

CityDerry

StateNH

CountyRockingham County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (4.4% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+4.4% YoY, +0.5% MoM), not inventory.

Demographics

Who lives here

ZIP 03038 (Derry, NH) is majority owner-occupied, has a median income above the national average, 36.9% of residents hold a bachelor's degree or higher.

Population

34,474

Median income

$108,322

Median age

40.3

Renters

30.3%

Age distribution

20.6%

21.5%

26.2%

16.5%

15.3%

Under 1820.6%

18–3421.5%

35–5426.2%

55–6416.5%

65+15.3%

Gender

49.3%

50.7%

Male49.3%

Female50.7%

Race & ethnicity

90%

White90%

Black1.2%

Hispanic5%

Asian2%

Other1.7%

Education (25+)

28.7%

28.3%

36.9%

No HS diploma6.1%

HS diploma28.7%

Some college28.3%

Bachelor's+36.9%

Housing tenure

69.7%

30.3%

Owner69.7%

Renter30.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How ZIP 03038 in Derry, NH has changed in 5 years

Rent

$2,030 → $2,263

up 11.5%

Income

$84,819 → $108,322

up 27.7%

Population

34,371 → 34,474

up 0.3%

Renter share

33.4% → 30.3%

-3.1 pts

Bachelor's+

31.4% → 36.9%

+5.5 pts

Median age

39.2 → 40.3

+1.1 yrs

Five years ago, renters in ZIP 03038 in Derry, NH paid around $2,030 a month. That figure now sits near $2,263, up 11.5% from the 2023 baseline. On the earnings side, the typical household in ZIP 03038 in Derry, NH now reports about $108,322, up from $84,819 in 2021. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. The renter share has eased from 33.4% to 30.3%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 31.4% to 36.9% across the same window. For context, the 2023 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 03038 in Derry, NH reflects that arc in its own way.

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About renting in ZIP 03038

Last updated: October 17, 2026

ZIP code 03038 covers Derry, NH. The median rent here is $2,263/mo as of October 2026. A 1-bedroom rents for a median of $1,550/mo. A 2-bedroom rents for a median of $2,030/mo.

At 25% of local median household income ($108,322/yr), ZIP 03038 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.4% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 03038?

To keep rent at or below 30% of gross income, you would need to earn at least $91,000/year (about $44/hour full-time) to afford the median rent of $2,263/mo in ZIP 03038. The local median household income is $108,322/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 03038?

Rent in ZIP 03038 has risen 4.4% over the past year as of September 2026. That is the highest level since Zillow's records here began in December 2022.

How does ZIP 03038 compare to other ZIPs in New Hampshire?

ZIP 03038 is in the middle among New Hampshire ZIP codes for rent, ranking #10 of 24 at $2,263/mo. Over the year to September 2026, rent in ZIP 03038 changed +4.4%, against a typical +3.4% across the 20 New Hampshire ZIP codes Zillow tracks.