New Hampshire, with its White Mountains, scenic lakes, and historic towns like Portsmouth and Concord, offers a lifestyle in the heart of New England. Known for its lack of sales tax and abundant outdoor activities, the Granite State attracts many. However, understanding the cost of living in New Hampshire is key to planning a move or adjusting your budget. From housing costs in cities like Manchester to utilities and healthcare expenses across the state, this guide breaks down what you can expect to spend while living in New Hampshire.
Housing costs: Median home prices and average rent in New Hampshire
Housing in New Hampshire tends to be more expensive than the national average. The median home sale price is $487,800, significantly higher than the national median of $428,000. Renters also face elevated costs, with the average rent at $1,987 compared to the national average of $1,645. Coastal cities like Portsmouth and towns near the Massachusetts border often command the highest prices due to their proximity to Boston and appeal to commuters. On the other hand, more affordable housing options can be found in cities like Claremont and Berlin, where rents and home prices are typically lower.
New Hampshire housing costs: Average rents and median home sale prices
| City in New Hampshire | 1 Bed Avg. Rent | 2 Bed Avg. Rent | Median Home Sale Price |
| National Average | $1,495 | $1,725 | $428,000 |
| Manchester | $1,800 | $2,137 | $463,000 |
| Nashua | $1,897 | $2,275 | $470,000 |
| Concord | $1,447 | $1,702 | $410,000 |
| Portsmouth | $2,134 | $2,512 | $817,000 |
| Dover | $2,070 | $2,312 | $535,000 |
| Keene | $1,705 | $2,130 | $350,000 |
| Rochester | $1,230 | $1,771 | $361,000 |
| Derry | $1,645 | $3,321 | $445,000 |
| Laconia | $1,350 | $1,975 | $390,000 |
| Exeter | $1,950 | $3,000 | $575,000 |
Housing costs in popular cities in New Hampshire
Manchester
Manchester, New Hampshire’s largest city, has plenty of amenities to enjoy. Housing costs here are competitive: a one-bedroom apartment averages $1,800, while a two-bedroom costs $2,137. For those looking to buy, the median home price is $463,000. Downtown Manchester thrives with attractions like the Currier Museum of Art, the SNHU Arena for concerts and sports. Residents also benefit from nearby recreational spots, such as Lake Massabesic for kayaking and biking trails, making it a city that balances work, leisure, and affordability.
Nashua
Located along the Massachusetts border, Nashua serves as a prime choice for those commuting to Boston while enjoying New Hampshire’s lower tax burden. Housing here reflects its proximity to urban centers, with one-bedroom apartments averaging $1,897 and two-bedrooms reaching $2,275. The median home sale price is $470,000. Nashua’s scenic Riverwalk, shopping districts like the Pheasant Lane Mall, and great neighborhoods contribute to its appeal.
Concord
The state capital, Concord, is a more affordable option for renters and buyers. A one-bedroom apartment averages $1,447, and a two-bedroom costs $1,702. The median home sale price is $410,000, making it an attractive destination for first-time homebuyers. Concord is known for its historic downtown, government buildings, and community-focused atmosphere.
Portsmouth
Portsmouth, along New Hampshire’s seacoast, is a premier destination for those seeking coastal living. The city’s high demand is reflected in its housing costs: a one-bedroom apartment averages $2,134, and two-bedrooms climb to $2,512. Homes for sale come with a hefty price tag, with a median of $817,000. Despite the expense, Portsmouth’s draw lies in its walkable downtown, filled with shops, craft breweries, and waterfront dining.
Utilities cost residents 14% higher than the national average
In New Hampshire, utility costs tend to run higher than the national average, with households paying about 14% more overall. The average monthly electric bill is around $150, reflecting the state’s reliance on energy during its cold winters. Additionally, internet and cable services typically cost about $151 per month, bringing the total utility expenses for most households to a notable portion of the monthly budget. In cities like Manchester, utility costs can be even steeper, reaching up to 16% higher than national averages. These increased expenses are partly due to New Hampshire’s colder climate, which drives up heating costs, as well as the rural infrastructure in some areas. Despite these higher costs, the state’s lack of a sales tax and the overall high quality of life are factors that many residents feel justify the additional utility expenses.
Prepare to save significantly on groceries
New Hampshire’s grocery costs are notably lower than the national average, with the average monthly cost per person at $183, a significant 49% decrease compared to the national average of $355. Several factors contribute to this affordability. The state’s lack of a sales tax plays a key role in lowering the overall price of items, including groceries. Additionally, New Hampshire’s proximity to major supply hubs in the Northeast and the availability of fresh local produce help keep prices down. The state’s small but productive agricultural sector, combined with local farmers markets, also provides cost-effective, locally sourced goods.
Cost of transportation is on par with national averages
Transportation costs in New Hampshire are relatively affordable, with gas prices averaging around $2.96 per gallon, slightly lower than the national average of $3.01. However, the northern parts of the state tend to have slightly higher gas prices due to the remoteness of certain areas and fewer fueling stations. While driving is the most common mode of transportation, New Hampshire’s public transit system is limited. Bus services are available in cities like Concord and Manchester, with typical fares ranging from $1.50 to $2.00 per ride, but these services are less frequent outside of the larger cities. For longer trips, you can consider the Concord Coach Lines, offering bus routes to neighboring states, including Boston.
Affordable doctor visits, but hospital stays can be expensive
Healthcare costs in New Hampshire are generally close to the national average, though there are some regional variations. The average cost for a doctor’s visit in New Hampshire is approximately $125, which is lower than the national average of $142. However, in cities like Manchester, healthcare costs can be up to 6% higher than the national average due to a higher concentration of specialized services and increased demand. Additionally, New Hampshire ranks among the top states for hospital costs, with the daily charge for a hospital stay ranging from $2,000 to $3,000. While residents generally have good access to healthcare, those without insurance or with high-deductible plans may find healthcare expenses to be a significant financial burden.
New Hampshire has a favorable tax structure
New Hampshire has a unique tax structure that is favorable in some areas but may require some adjustments for newcomers. One of the most notable aspects is that the state does not impose a broad-based income tax, which means your wages are not taxed at the state level. However, it does have a 5% tax on income from dividends and interest, which is significant for those with substantial investments. Additionally, New Hampshire levies a property tax, which is among the highest in the nation, with an average rate of 1.61%. While this can add up, especially for homeowners, there is no sales tax, which helps lower the overall cost of living.
How much do I need to earn to live in New Hampshire?
To comfortably live in New Hampshire, it’s recommended that you spend no more than 30% of your monthly income on housing costs. With housing expenses being relatively high, especially in cities like Portsmouth and Manchester, it’s important to earn enough to cover not only your rent or mortgage but also utilities, transportation, and other living costs. For example, with the average rent for a one-bedroom apartment in Manchester at around $1,800 per month, you’d need a pre-tax income of at least $72,000 a year to stay within the 30% housing cost threshold. This amount could be adjusted depending on other factors such as lifestyle, and other expenses, but earning at least this much will give you a comfortable cushion to manage your living expenses without financial strain.
Methodology
Average 1-bedroom and 2-bedroom rent sourced from Rent. Median home sale price, state average monthly rent, national rent prices, and cost of living data sourced from Redfin.
