New-Hampshire Housing Market Overview In June 2022, home prices in New-Hampshire were up 15.9% compared to last year, selling for a median price. On average, the number of homes sold was down 11.6% year over year and there were 2,227 homes sold in June this year, down 2,520 homes sold in June last year.
Are home prices dropping in New Hampshire?
Prices for homes in New Hampshire are also at record levels. The median sale price for a home is $460,000, a relatively recent increase. “Since 2019 until today, we’ve gone from $300,000 to $460,000,” Gaudet said. One thing that could slow the housing market is rising mortgage rates.
Is it a good time to buy a house in NH?
Although interest rates are on the rise, it’s still a great time to purchase a home. Speak with one of our expert loan officers today!
Is real estate good in New Hampshire?
Increasing median home values – New Hampshire’s median home value is well above the national average, and appreciated by 7.1% over the last 12 months year. The state’s cost of living is higher than the national average. New Hampshire is home to the highest median income in the country, however.
What is the average home price in New Hampshire?
The median home price in New Hampshire is $357,000.
Why is rent in NH so high?
“In turn, the lack of inventory of affordable homes to purchase means that many would-be home buyers continue to rent because of a scarcity of homes in their price range. The lack of for-sale inventory adds pressure to rental costs in New Hampshire.”
What is the inflation rate for New Hampshire?
June 2022
| Prices (BLS/Haver, AAA) | ||
|---|---|---|
| CPI-U Inflation | 6.8% | 6.2% |
| “Core” CPI Inflation | 4.9% | 4.6% |
| National Gas/gal. Updated 6/22/22 12:00 AM | $4.96 | $4.59 |
| New Hampshire Gas/gal. | $4.93 | $4.68 |
Will house prices go down in 2023?
House prices will also decline as affordability constraints bite, but tight markets and a lack of forced sellers means we expect the drop to be relatively modest, with annual growth falling to -5% by mid-2023,” wrote Capital Economics in its latest outlook.
Is it hard to buy a house in New Hampshire?
To buy a house in New Hampshire, you will need a credit score of at least 620 and a 20% downpayment. New Hampshire’s cost of living is well above the national average, and to buy a house there, you will need to save up at least $100,000 on average.
What town in NH has the lowest property taxes?
Hebron has the lowest property tax rate in New Hampshire with a property tax rate of 6.52. Moultonborough has the second lowest property tax rate in New Hampshire with a property tax rate of 6.98 and Bridgewater has the 3rd lowest property tax rate in New Hampshire with a property tax rate of 8.27.
What towns in NH have the highest property taxes?
When combining all local, county, and state property taxes, these towns have the highest property tax rates in New Hampshire (as of January 1, 2022):
Which NH towns have the highest property taxes?
- Claremont ($40.98)
- Berlin ($36.54)
- Gorham ($35.60)
- Northumberland ($35.31)
- Newport ($33.00)
Are homes expensive in New Hampshire?
Our cost of living indices are based on a US average of 100. An amount below 100 means New Hampshire is cheaper than the US average.
New Hampshire cost of living is 105.4.
| COST OF LIVING | New Hampshire | United States |
|---|---|---|
| Housing | 118.6 | 100 |
| Median Home Cost | $357,000 | $291,700 |
| Utilities | 120.5 | 100 |
| Transportation | 87.6 | 100 |
Is rental income taxed in NH?
Like hotel and B&B stays, short-term rentals in New Hampshire are subject to tax. Tax authorities require short-term vacation rental hosts to collect applicable short-term rental taxes from their guests and remit them to the proper authorities.
How much is property tax in New Hampshire?
New Hampshire is known as a low-tax state. But while the state has no personal income tax and no sales tax, it has the fourth-highest property tax rates of any U.S. state, with an average effective rate of 2.05%. Consequently, the median annual property tax payment here is $5,768. Not in New Hampshire?
What is the cost of living in New Hampshire?
According to data from the Bureau of Economic Analysis, goods and services in the state cost 6.0% more than they do on average nationwide. Compared with all other states, New Hampshire has the ninth highest overall cost of living.
How many homes are for sale in New Hampshire?
5,038 homes
There are currently 5,038 homes for sale in New Hampshire. The median list price in New Hampshire is $479,900 and the average price per square foot is $237.
Why are houses so expensive in New Hampshire?
The economic principle of supply and demand has been hard at work in the real estate market since well before anyone ever heard of Covid-19. The pandemic exacerbated it, driving demand where supply is thin, therefore driving up prices, particularly in the Seacoast region.
Does New Hampshire have any taxes?
3 Only Alaska and New Hampshire have no state income tax or state sales tax. Nonethe- less, the Granite State does impose an interest and dividends tax, and cities in Alaska can impose a sales tax.
What’s the most a landlord can increase rent?
According to the Tenant Protection Act of 2019, also known as AB 1482, landlords are allowed annual rent increases of 5% plus the percentage change in the cost of living (Consumer Price Index) per year, up to 10%.
What is the main industry in New Hampshire?
Travel and tourism are mainstays of the state economy with spending by tourists accounting for over 8% of the gross state product. It is estimated that approximately 64,000 people are employed within the travel and tourism industry in the state.
What is it like living in New Hampshire?
Like we already said, New Hampshire has one of the lowest unemployment rates in the country. It also has the lowest poverty rate, and one of the highest life expectancies. With all of that fresh air combined with the locals’ holistic attitudes towards life, it’s easy to see why people here are so happy and healthy.