ZIP Code · NH

ZIP 03054

Part of Merrimack, NH

Pop. 28,176·Hillsborough County·6th most expensive ZIP in New Hampshire

Median rent (all units)

$2,530/mo

Year-over-Year

+5.7%

Month-over-Month

+0.8%

vs US Median

+$598

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 03054 · $2,530

More expensive than 81% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,630

1 BR

$1,860

2 BR

$2,360

3 BR

$3,130

4 BR+

$3,330

Research median

$2,360/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 03054 is at its highest level since Zillow's records here began in February 2023.

Past year vs. the rest of New Hampshire

Rent in ZIP 03054 changed +5.7% over the year to September 2026. Across the 20 New Hampshire ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent has risen 6 months in a row, and rose in 10 of the last 12 months.

What a typical income covers

30% of the median household income ($127,303) is $3,183 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($3,130); a 4-bedroom is $3,330.

Cheaper nearby

ZIP 03063, 5 miles away, rents for 13% less ($2,196/mo), about $4,000 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 03054. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$30,360/yr

At $2,530/mo median

Location

CityMerrimack

StateNH

CountyHillsborough County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 5.7% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+5.7% YoY, +0.8% MoM), not inventory.

Demographics

Who lives here

ZIP 03054 (Merrimack, NH) is majority owner-occupied, has a median income above the national average, 50.2% of residents hold a bachelor's degree or higher.

Population

28,176

Median income

$127,303

Median age

41.5

Renters

11.1%

Age distribution

22%

19.4%

25.8%

16.1%

16.8%

Under 1822%

18–3419.4%

35–5425.8%

55–6416.1%

65+16.8%

Gender

49.7%

50.3%

Male49.7%

Female50.3%

Race & ethnicity

88.7%

White88.7%

Black0.8%

Hispanic3.8%

Asian4.8%

Other1.9%

Education (25+)

16.8%

30%

50.2%

No HS diploma2.9%

HS diploma16.8%

Some college30%

Bachelor's+50.2%

Housing tenure

88.9%

Owner88.9%

Renter11.1%

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

2023 vs 2026

How ZIP 03054 in Merrimack, NH has changed in 5 years

Rent

$2,214 → $2,530

up 14.3%

Income

$114,562 → $127,303

up 11.1%

Population

26,730 → 28,176

up 5.4%

Renter share

12.2% → 11.1%

-1.1 pts

Bachelor's+

48.2% → 50.2%

+2.0 pts

Median age

42 → 41.5

-0.5 yrs

The median rent in ZIP 03054 in Merrimack, NH stood at $2,214 in 2023 and currently runs about $2,530, reflecting a 14.3% increase over the period. On the earnings side, the typical household in ZIP 03054 in Merrimack, NH now reports about $127,303, up from $114,562 in 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 5.4% since 2021, moving from about 26,730 residents to roughly 28,176. College-educated residents now make up 50.2% of adults here, versus 48.2% in 2021. For context, the 2023 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 03054 in Merrimack, NH reflects that arc in its own way.

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About renting in ZIP 03054

Last updated: October 17, 2026

ZIP code 03054 covers Merrimack, NH. The median rent here is $2,530/mo as of October 2026. A 1-bedroom rents for a median of $1,860/mo. A 2-bedroom rents for a median of $2,360/mo.

At 24% of local median household income ($127,303/yr), ZIP 03054 ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 03054?

To keep rent at or below 30% of gross income, you would need to earn at least $101,000/year (about $49/hour full-time) to afford the median rent of $2,530/mo in ZIP 03054. The local median household income is $127,303/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 03054?

Rent in ZIP 03054 has risen 5.7% over the past year as of September 2026. That is the highest level since Zillow's records here began in February 2023.

How does ZIP 03054 compare to other ZIPs in New Hampshire?

ZIP 03054 is one of the pricier among New Hampshire ZIP codes for rent, ranking #6 of 24 at $2,530/mo. Over the year to September 2026, rent in ZIP 03054 changed +5.7%, against a typical +3.4% across the 20 New Hampshire ZIP codes Zillow tracks.