No matter where you live in New Hampshire, rents are rising. Statewide, the median rent for a two-bedroom apartment is just shy of $1,500. That figure jumped by about 6% last year and about 24% in the last five years, according to New Hampshire Housing. But some parts of the state have seen even sharper increases.
Why are rents so high in New Hampshire?
“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.”
Is New Hampshire expensive to live?
New Hampshire has a cost of living that ranks slightly higher than the national average. However, compared to larger metro areas like Boston or New York, New Hampshire is relatively affordable.
How much does it cost to rent in New Hampshire?
For a more detailed breakdown, here is a list of average rent prices in the five most popular New Hampshire cities, including Dover, Portsmouth, Amherst, Concord, and Manchester.
New Hampshire Housing Costs.
| City | Average 1-Bedroom Rent | Average 2-Bedroom Rent |
|---|---|---|
| Manchester, NH | $1,487 | $1,700 |
What does the average person in NH pay for rent?
PORTSMOUTH, N.H. —
According to the New Hampshire Housing Finance Authority, the state needs 20,000 new rental units to house the workforce needed to keep the economy going. Availability and affordability, at crisis levels. The authority’s 2021 report put the statewide median rent for a two-bedroom unit at $1,498.
Is it cheaper to live in NH than Ma?
The cost of housing in NH is 25% less than MA. The cost of utilities in NH is 10% less than MA. The cost of transportation in NH is 6% less than MA. The cost of health care in NH is 4% less than MA.
Is there rent control in NH?
There is no New Hampshire statute limiting how much a landlord can raise the rent. If your landlord tries to raise your rent by an unreasonable amount, there is a legal argument that such an increase is not enforceable by a court.
What is minimum wage in NH?
That is why I was proud to once again introduce legislation to raise the minimum wage. SB 203 is simple — incrementally increase New Hampshire’s minimum wage between September of 2022 to July of 2024 from $10 per hour, $12 per hour, and finally $15 per hour.
What is a good salary in NH?
Average Salary in New Hampshire
| Annual Salary | Monthly Pay | |
|---|---|---|
| Top Earners | $102,566 | $8,547 |
| 75th Percentile | $76,925 | $6,410 |
| Average | $66,864 | $5,572 |
| 25th Percentile | $50,770 | $4,230 |
Why are homes so cheap in New Hampshire?
There is no income tax in the state, dividends and interest are taxed at just 5 percent, and there’s no sales tax either, which is why many New Englanders are flocking to the state not just to buy goods, but to put down roots. To compensate, property taxes can be considerably higher than in other areas of the country.
Is it cheaper to live in Texas or New Hampshire?
Texas is 11.3% cheaper than New Hampshire.
Is it cheaper to live in Florida or New Hampshire?
New Hampshire is 7.3% more expensive than Florida.
Is food expensive in New Hampshire?
Just as food costs are higher than average in New Hampshire, so, too, are incomes. The typical family in the state earns $97,001 a year, compared to the national average of $80,069. New Hampshire residents are less likely to rely on government assistance to afford groceries than the typical American.
What is the cheapest place to live in New Hampshire?
10 Most Affordable Cities in New Hampshire
- Claremont.
- Rochester.
- Laconia.
- Somersworth.
- Concord.
- Manchester.
- Derry.
- Keene.
What state has the cheapest cost of living?
Mississippi
Mississippi. Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi’s housing costs are the lowest in the nation.
Does New Hampshire have high 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 are the pros and cons of living in New Hampshire?
The Pros And Cons Of Living In New Hampshire
- Natural beauty in a tranquil setting.
- Low crime rates.
- Good economic and educational opportunities.
- No sales tax.
- No state income tax on salaries and wages.
- High property taxes.
- Harsh and long winters.
- Limited diversity.
Are taxes higher in NH or MA?
New Hampshire does have the lowest personal tax burden in the nation, with residents paying an average of about 13 percent of income in taxes and fees, even though property taxes are nearly one-third higher per capita than in Massachusetts and about 70 percent higher than the US average.
Should I move to NH?
New Hampshire is perfect for every lifestyle, from vibrant cities to mountain peaks, coastal views, and New England cities, the state has the right feel for everyone. If you enjoy skiing, rock climbing, camping, snowboarding, and other winter-related sports, moving to New Hampshire is right for you.
What is the most a landlord can raise 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%.
Can I evict in NH?
New Hampshire has a special process for eviction. No landlord can lawfully evict a tenant without following the steps set out by state law (RSA 540). A tenant can be evicted for violating the lease. If the tenant has no written lease, she or he can be evicted for a variety of reasons.