New Hampshire market guide

DSCR loans in Keene, NH

Rental financing for Keene investors, qualified on the property's rent.

In short

Keene is a NH market where the rent-to-payment ratio decides the loan. Median rent is $1,342, median home value is $252,500 and 45% of households rent.

Keene rental market at a glance

Start with the two numbers every DSCR file turns on. Rent in Keene runs a median $1,342 a month (about 10% below the New Hampshire median of $1,491), and the median owner-occupied home is worth $252,500. The gross rent-to-value ratio for Keene works out to 6.4% (twelve months of median rent divided by median value), neither especially thin nor especially rich. The figure combines all rental types with all owner-occupied homes, so it is a screening number and not an appraisal.

Indicator	New Hampshire	Keene	Difference
Annual property tax bill, median	$6,667	$6,812	+2%
Household income, median	$99,031	$78,445	-21%
Typical owner-occupied value	$402,500	$252,500	-37%
Typical monthly rent	$1,491	$1,342	-10%
Persons per household	2.44	2.18
Share in 2-4 unit buildings	10.5%	20.3%	+93%
Share of homes detached	63.3%	46.0%	-27%
Long commuters, 45 min plus	17.2%	6.9%	-60%
Degree holders, age 25+	40.6%	44.1%	+9%
Workers on their own account	9.3%	7.5%	-19%
Units sitting vacant	14.3%	10.8%	-24%
Typical construction year	1979	1961
Households that rent	27.2%	44.9%	+65%
Tax as a share of home value	1.66%	2.70%	+63%
Residents (Census estimate)	1,394,868	22,939

The renter share is 44.9% in Keene, well above the New Hampshire median of 27%, a sizable rental market. Household income runs a median $78,445 (about 21% below the New Hampshire median of $99,031), while 44% of renters spend 30 percent or more of income on housing.

Housing mix and age in Keene

Apartments and small buildings carry real weight in Keene, about 46% of units, with duplexes through fourplexes at 20%. Median year built is 1961. Older buildings tend to need more capital work, and insurers notice roof and electrical age.

Use vacancy as a reality check: 11% of all units are vacant in Keene, and the rental vacancy rate is 4.4%.

Underwriting angles in Keene

At 6.4%, Keene is neither a bargain nor a stretch for DSCR underwriting, so the file turns on the exact rent, tax and insurance figures for the property. Age is the main physical risk here: median year built 1961 points to deferred maintenance in a share of listings. Renters are 45% of households, which gives investors a real tenant base to market to.

What costs can do to a Keene ratio

Real estate taxes are a line the rent has to cover. The median owner in Keene pays $6,812 a year (close to the New Hampshire median of $6,667), which is about 2.70% of the median home value. That is about 42% of a year of median rent gone to taxes before the loan is even counted.

The federal National Risk Index scores Cheshire County relatively low for overall risk, led by lightning (relatively moderate), ice storms (relatively moderate) and riverine flooding (relatively moderate). That is a county-level view, so check the flood map for the exact parcel.

Hazard in Cheshire County, FEMA index	Level
Landslides exposure	Relatively Low
Riverine flooding exposure	Relatively Moderate
Ice storms exposure	Relatively Moderate
Lightning exposure	Relatively Moderate
Social vulnerability score	Very Low
Annualized loss estimate	Relatively Low
Composite risk	Relatively Low

Flood risk in Keene is parcel by parcel: check the address on FEMA's flood map service, because a mapped high-risk zone means required flood cover and a heavier payment.

A worked DSCR test for Keene

The quick test for Keene: rent of $1,342 divided by a 1.25 ratio allows a total payment of $1,074, and subtracting $568 in monthly taxes leaves $506 for the loan, insurance and dues. At 1.00 the allowance is the full $774.

What NH law and Keene require of landlords

This page does not claim to list every Keene rental ordinance. Before you buy, call the city's planning or code office and Cheshire County to ask about rental registration, inspections and short-term rental permits, and read any association declaration. For Keene short-term hosts, one state-level point stands out. New Hampshire's Meals and Rooms tax covers residential rentals of under 185 consecutive days, so an operator needs an operator's license, displays it on the property and includes the license number in advertisements, and Airbnb collects the tax on stays of 184 nights or fewer.

Deposits come due back within 30 days of the tenant leaving, and Keene owners should document condition at both ends of the lease.

Keene next to nearby cities

Of the cities listed, Merrimack is the most expensive ($458,600 median value) and Claremont the least ($204,600); Keene sits at $252,500.

Market	Renter share	Tax bill	Home value	Residents	Rent
Manchester	51%	$5,922	$365,600	115,643	$1,564
Concord	43%	$7,227	$350,900	44,375	$1,441
Merrimack	11%	$7,345	$458,600	28,164	$1,932
Claremont	43%	$5,774	$204,600	13,078	$1,146
Keene	45%	$6,812	$252,500	22,939	$1,342

Tenants, jobs and anchors in Keene

Self-employed workers, incorporated or not, make up 7.5% of employed residents, a group that often has irregular tax-return income and a natural fit with rent-based qualification. Other workforce markers: government workers are about 14% of employment, 44% of adults hold a bachelor's degree or higher and 7% of commuters travel 45 minutes or more.

The Keene area is home to Keene State College and Antioch University New England. Students and employees at schools like these are a recurring source of rental demand. Access runs through air service through Dillant-Hopkins Airport, which shapes where commuters want to live and how long a showing takes.

Moving from numbers to a Keene loan

Run the Keene rent, tax and insurance figures through the DSCR calculator. When they clear the ratio, start an application or ask for a quote.

More New Hampshire markets

Where these facts come from

We took the Keene data from Census ACS five-year tables for 2020 to 2024, estimates with margins of error. Deposit and notice summaries come from RedFlagLease (CC BY 4.0) and the linked New Hampshire sections. Checked October 2026; confirm with Keene or the county before you rely on any rule.

Quick file checklist

Before you commit on a Keene deal, confirm the rent with the lease or a market estimate, price the insurance for the exact address, and check how the taxes may change after the sale, so the ratio you run matches the one the lender calculates.

DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.

Frequently asked questions

Lease or market rent: what counts in Keene?

Expect to supply a lease, or let the appraiser's rent schedule stand in for one; the Keene median rent of $1,342 is context and not a substitute.

Does the ratio in Keene include taxes and dues?

They do. Rent of $1,342 divided by 1.25 gives about $1,074 as the payment ceiling, and $568 of that is spoken for by the median Keene tax bill.

What do Keene owners pay in real estate taxes?

Typical owners pay $6,812, or 2.70% of home value, with New Hampshire overall at 1.66%. Do not assume the seller's bill carries over to you.

Will a lender count nightly rental income at a Keene property?

Possible where lender guidelines allow it, subject to Keene and Cheshire County rules and to the building's association. Lenders usually average a year of bookings and discount the result.

What deposit rules apply to a NH rental?

Landlords in Keene follow RSA 540-A:5, I-II; 540-A:6, I-IV; 540-A:7, I-II; 540-A:8, I-III. Return deadline: 30 days from move-out.

What hazard risk does Keene carry for investors?

The National Risk Index gives the county an overall relatively low rating. Use that as a prompt to get quotes, not as a verdict on one Keene street.

Can a company be the borrower on a Keene purchase?

You do not need one, and many investors close in an entity. If you use an LLC, the lender asks for formation documents and usually a personal guaranty. Talk to your attorney and accountant about structure for a New Hampshire property.