New Hampshire is a beautiful state known for its stunning landscapes and vibrant communities. However, living in New Hampshire comes at a cost, as the state has a higher-than-average cost of living compared to the national average. But don’t despair! In this ultimate guide, I will take you through the best and most affordable places to live in New Hampshire, so you can make an informed decision about your next home.
Whether you’re considering a move to New Hampshire or already live here and want to find a more affordable city, this guide has got you covered. We will provide data on the average cost of living, housing costs, and other living expenses to help you compare and choose the right place for your budget and lifestyle.
Key Takeaways:
- New Hampshire has a higher cost of living compared to the national average.
- Despite the overall high cost of living, there are affordable cities within the state.
- Cost of housing, utilities, groceries, and transportation contribute to the higher cost of living.
- Some of the most affordable cities in New Hampshire include Berlin, Claremont, Rochester, Somersworth, and Keene.
- Bedford and Hanover are considered the best cities for families due to their amenities and high household incomes.
The High Cost of Living in New Hampshire
New Hampshire is known for its natural beauty and charming towns, but living in the Granite State comes with a price tag. The cost of living in New Hampshire is 15 times higher than the national average, making it more expensive compared to neighboring states like New Jersey, Connecticut, and Rhode Island.
The high cost of living in New Hampshire is influenced by various factors, including utilities, groceries, healthcare, and transportation expenses. These costs can add up and impact your overall budget. Additionally, New Hampshire has the fourth-highest property tax rates in the United States, with an average effective rate of 1.77%. This means that homeowners in the state face higher property taxes, further contributing to the cost of living.
Considering the high cost of living in New Hampshire is crucial when making decisions about moving or residing in the state. It’s important to plan finances accordingly and assess whether the benefits of living in New Hampshire outweigh the higher expenses.
Affordable Places to Live in New Hampshire
Despite the high overall cost of living in New Hampshire, there are still affordable places to live within the state. In this section, I will introduce you to the top five cities in New Hampshire that are known for their affordability: Berlin, Claremont, Rochester, Somersworth, and Keene. These cities offer lower costs of living compared to the state average and provide a range of amenities and attractions for residents.
Berlin
Berlin is a small town in New Hampshire that offers a low cost of living compared to the state average. With a population of 9,518, Berlin has a median household income of $39,479 and a cost of living that is 86% of the U.S. average. The median rent price in Berlin is $1,150, and the home price-to-income ratio is 2.18. Despite experiencing a year-over-year increase in rental costs, Berlin’s real estate market remains affordable, making it an attractive option for those seeking lower housing prices.
Claremont
Claremont is another affordable city in New Hampshire, with a population of 13,149. The median household income in Claremont is $46,414, and the cost of living is 90% of the U.S. average. The median rent price in Claremont is $1,444, and the home price-to-income ratio is 2.94. While rental costs have remained stable over the past year, the real estate market in Claremont is warming up, potentially leading to higher housing prices in the future.
Rochester
Rochester is one of the most populated cities in New Hampshire, with a population of 33,169. The median household income in Rochester is $70,582, and the cost of living is 102% of the U.S. average. The median rent price in Rochester is $2,000, and the home price-to-income ratio is 2.95. Rental prices in Rochester have increased slightly over the past year, but they are still lower than the national median. The city offers an urban feel without the high prices of larger cities.
Somersworth
Somersworth is a suburb located on the Maine border in New Hampshire. It has a population of 12,159 and a median household income of $68,762. The cost of living in Somersworth is 101% of the U.S. average. The median rent price is $1,800, and the home price-to-income ratio is 3.29. Rental prices in Somersworth have stabilized in recent months, with rents still 14% lower than the national median. The city is ranked as the 10th best real estate market in the country for first-time homebuyers.
Keene
Keene is a city in southwestern New Hampshire with a population of 22,774. The median household income in Keene is $63,490, and the cost of living is 101% of the U.S. average. The median rent price in Keene is $1,845, and the home price-to-income ratio is 3.04. Rental prices in Keene have increased by $270 since last year, but they are still below national averages. Keene offers a small suburban feel with access to the outdoors at an affordable cost.
Berlin
Berlin is a small town in New Hampshire that offers a low cost of living compared to the state average. With a population of 9,518, Berlin has a median household income of $39,479 and a cost of living that is 86% of the U.S. average. The median rent price in Berlin is $1,150, and the home price-to-income ratio is 2.18. Despite experiencing a year-over-year increase in rental costs, Berlin’s real estate market remains affordable, making it an attractive option for those seeking lower housing prices.
| Cost of Living Data for Berlin, NH | Comparison to State Average |
|---|---|
| Median Household Income | $39,479 |
| Cost of Living | 86% of U.S. Average |
| Median Rent Price | $1,150 |
| Home Price-to-Income Ratio | 2.18 |
As you can see from the data, Berlin provides affordable living conditions for its residents. The cost of living is significantly lower than the state average, allowing individuals and families to save more and enjoy a higher quality of life. With its charming small-town atmosphere and affordable housing options, Berlin is an ideal choice for those looking for a budget-friendly living arrangement in New Hampshire.
Claremont
Claremont is another affordable city in New Hampshire, with a population of 13,149. The median household income in Claremont is $46,414, and the cost of living is 90% of the U.S. average. The median rent price in Claremont is $1,444, and the home price-to-income ratio is 2.94. While rental costs have remained stable over the past year, the real estate market in Claremont is warming up, potentially leading to higher housing prices in the future.
When it comes to affordability, Claremont offers a great balance between low living expenses and decent household incomes. This makes it an attractive option for individuals and families looking for a city where they can comfortably settle without breaking the bank. With a variety of amenities, including parks, restaurants, and cultural attractions, living in Claremont provides the small-town charm and convenience that many desire.
If you’re considering a move to New Hampshire and affordability is a top priority, Claremont should be on your list of potential cities to explore. Its lower housing costs and overall cost of living make it a budget-friendly option compared to other parts of the state. Whether you’re renting or buying a home, Claremont offers opportunities for affordable and comfortable living.
Key Facts about Claremont
| Population | Median Household Income | Cost of Living | Median Rent Price | Home Price-to-Income Ratio |
|---|---|---|---|---|
| 13,149 | $46,414 | 90% of the U.S. average | $1,444 | 2.94 |
Rochester
Rochester, one of the most populated cities in New Hampshire, offers a vibrant community with a population of 33,169. With its dynamic atmosphere and diverse population, Rochester is a great place to call home. As a resident, you’ll find numerous amenities, entertainment options, and a rich cultural scene to explore.
When it comes to the cost of living, Rochester provides affordability compared to larger cities in the region. The cost of living in Rochester is 102% of the U.S. average, making it a budget-friendly choice for those seeking a desirable quality of life. This means you can enjoy the benefits of an urban feel without the high prices typically associated with bigger cities.
Housing costs in Rochester are also relatively reasonable. The median rent price is $2,000, offering an affordable option for renters. Additionally, the home price-to-income ratio is 2.95, indicating that purchasing a home in Rochester is within reach for many residents.
While rental prices in Rochester have seen a slight increase over the past year, they remain lower than the national median. This makes Rochester an attractive location for individuals and families looking to find affordable housing options in New Hampshire.
With its blend of affordability and urban amenities, Rochester stands out as one of the most attractive cities in New Hampshire for those seeking a balance between cost of living and quality of life.
Somersworth
Somersworth, a charming suburb situated on the border of Maine in New Hampshire, is an excellent choice for individuals seeking affordable living options. With a population of 12,159 and a median household income of $68,762, Somersworth provides a comfortable and inviting community. The cost of living in Somersworth amounts to 101% of the U.S. average, rendering it an attractive destination for those looking for affordable living arrangements.
When it comes to housing costs, Somersworth remains competitive and budget-friendly. The median rent price rests at $1,800, while the home price-to-income ratio stands at 3.29. Despite recent stability in rental prices, they remain 14% lower than the national median. In fact, Somersworth is ranked as the 10th best real estate market in the country for first-time homebuyers. This makes it a highly desirable location for individuals and families seeking affordable housing options.
| Population | Median Household Income | Cost of Living | Median Rent Price | Home Price-to-Income Ratio |
|---|---|---|---|---|
| 12,159 | $68,762 | 101% | $1,800 | 3.29 |
Somersworth offers a welcoming community atmosphere and the benefits of a strategic location near the Maine border. Its affordability and competitive housing costs make it an ideal choice for individuals who wish to enjoy a high quality of life without breaking the bank.
Keene
Keene is a city located in southwestern New Hampshire. With a population of 22,774, Keene offers a vibrant community with a small suburban feel. The city is known for its charming downtown area, beautiful parks, and access to outdoor activities.
The median household income in Keene is $63,490, providing residents with a decent income to support their cost of living. The overall cost of living in Keene is 101% of the U.S. average, making it a relatively affordable option compared to other cities in New Hampshire.
| Cost of Living | Keene | U.S. Average |
|---|---|---|
| Housing | $1,845 (median rent price) | |
| 3.04 (home price-to-income ratio) | ||
| Rental Prices | Increase of $270 since last year |
The housing costs in Keene are relatively affordable, with a median rent price of $1,845. The home price-to-income ratio is 3.04, indicating that housing is relatively accessible to residents. While rental prices in Keene have increased by $270 since last year, they are still below national averages.
Keene is a desirable city for those seeking an affordable cost of living without sacrificing access to amenities and outdoor recreational opportunities.
Keene provides a range of community events, local businesses, and cultural attractions. Residents can explore beautiful parks, hike scenic trails, and enjoy a variety of recreational activities. The city also offers a strong educational system, making it an attractive option for families.
If you are looking for an affordable city in New Hampshire with a high quality of life, Keene is worth considering.
Best Places to Live in New Hampshire for Families
When it comes to finding the perfect place for your family to settle down in New Hampshire, there are a few key factors to consider. Good schools, safety, healthcare, and kid-friendly amenities are all essential components of a family-friendly community. Luckily, there are two standout cities in New Hampshire that excel in these areas: Bedford and Hanover.
Bedford:
With a high median household income and an array of family-friendly activities and services, Bedford is a top choice for families in New Hampshire. This city of 23,704 residents offers excellent schools, a low crime rate, and a range of recreational options. From parks and playgrounds to community events, Bedford has something to offer every member of the family.
Hanover:
Home to Dartmouth College, Hanover is a charming town that combines a rich cultural scene with family-friendly amenities. It boasts a high median household income, which contributes to its excellent schools and healthcare facilities. Hanover also offers plenty of outdoor activities, including hiking, biking, and skiing, making it a great place for families to explore and enjoy nature together.
Both Bedford and Hanover provide an ideal environment for families to thrive. These cities prioritize the well-being and education of their residents, ensuring a high quality of life for families in New Hampshire.
Key Highlights:
- Bedford has a high median household income, providing financial stability for families.
- Hanover offers excellent schools and healthcare facilities, ensuring the well-being of children and parents alike.
- Both cities have a range of family-friendly amenities and activities, promoting a strong sense of community.
Whether you choose Bedford or Hanover, you can be confident that you are selecting one of the best cities in New Hampshire for families. These communities are dedicated to creating a safe, welcoming, and enjoyable environment for you and your loved ones.
Bedford
In this section, we will explore Bedford, one of the best cities in New Hampshire for families. With a population of 23,704, Bedford offers a thriving community and a high quality of life. Let’s dive into the details of living in Bedford.
Cost of Living in Bedford
When it comes to the cost of living, Bedford is on the higher end compared to the U.S. average. The cost of living in Bedford is 122% of the national average. However, it’s important to note that the high cost is balanced out by several factors, including the city’s excellent amenities, quality education system, and overall high standard of living.
Housing Costs
Housing costs in Bedford are also higher compared to the national average. The median rent price is $2,197, and the home price-to-income ratio is 3.31. Despite the higher housing costs, Bedford offers a range of housing options, from spacious single-family homes to modern apartments, ensuring there is something for everyone.
Best City in New Hampshire for Families
Despite the higher cost of living and housing, Bedford remains one of the best cities in New Hampshire for families. The city boasts excellent schools, a low crime rate, and a variety of family-friendly activities and services. The median household income in Bedford is $143,119, which contributes to a high quality of life for residents.
“Bedford truly is a wonderful place to raise a family. The community is tight-knit, the schools are top-notch, and there are plenty of outdoor activities for kids and parents alike. It’s no surprise that Bedford is consistently ranked as one of the best places to live in New Hampshire.”
– A satisfied Bedford resident
If you’re looking for a city that offers a high standard of living and a range of family-friendly amenities, Bedford is an excellent choice. Despite the higher costs, the benefits and opportunities available in this vibrant community make it a desirable place to call home.
Hanover
Hanover is a charming town nestled in the scenic state of New Hampshire. With a population of 11,612, Hanover offers a close-knit community and a high standard of living. While the cost of living in Hanover is 140% of the U.S. average, the town provides a range of benefits that make it an attractive place to call home.
One of the standout features of Hanover is its strong economy and lucrative job opportunities. The median household income in Hanover is $136,992, which is significantly higher than the national average. This economic stability contributes to the town’s overall prosperity and quality of life.
Hanover boasts a diverse range of outdoor activities, making it an exceptional place for nature enthusiasts. The town is surrounded by picturesque landscapes, including the stunning Connecticut River and Dartmouth College’s beautifully maintained campus. Residents of Hanover have access to a plethora of hiking trails, parks, and recreational facilities, ensuring plenty of opportunities for outdoor adventures.
However, it’s important to note that the rising cost of housing in Hanover can present challenges for renters. The median rent price in Hanover is $3,950, which is considerably higher than the national average. This increase in rental prices has made it more difficult for individuals and families to find affordable housing in the area.
Despite the housing costs, Hanover remains one of the best cities in New Hampshire for families. The town offers excellent schools, a safe environment, and a strong sense of community. Families can enjoy a range of family-friendly activities and events throughout the year, ensuring a well-rounded and enriching experience for children.
Housing Costs in Hanover
| Rent | Home Price-to-Income Ratio |
|---|---|
| $3,950 | 4.46 |
Table: Housing costs in Hanover compared to the national average.
Dover
Dover is another city in New Hampshire that is considered one of the best places for families. It has a population of 33,416 and a median household income of $82,387. The cost of living in Dover is 108% of the U.S. average. The median rent price is $2,200, and the home price-to-income ratio is 3.77. Dover offers a range of family-friendly attractions and easy access to the beach.
In Dover, families can enjoy a high quality of life with a variety of amenities and activities. The city has well-regarded schools, beautiful parks, and a vibrant community. Whether you’re looking to explore the downtown area, take a stroll along the waterfront, or enjoy outdoor recreational activities, Dover has something for everyone.
“Dover is a wonderful place to raise a family. We love the friendly community atmosphere and the abundance of family-friendly events and activities. It’s the perfect blend of small-town charm and modern amenities.”
When it comes to housing costs in Dover, the median rent price of $2,200 is slightly higher than the national average. However, the home price-to-income ratio of 3.77 indicates that homeownership is still within reach for many residents. With a range of housing options, from cozy family homes to spacious apartments, Dover offers something for every budget and lifestyle.
Overall, Dover is a desirable city for families looking for a welcoming community, access to outdoor recreation, and a range of amenities. With its reasonable cost of living and strong sense of community, it’s no wonder why Dover is considered one of the best cities in New Hampshire for families.
Other Affordable Places to Live in New Hampshire
In addition to the cities mentioned above, there are other affordable places to live in New Hampshire. Some of these include Laconia, Suncook, and Loudon. These towns offer lower costs of living and a range of amenities for residents.
Conway
Conway is a charming and affordable town located in eastern New Hampshire. With a population of around 10,000, it offers a close-knit community and a peaceful lifestyle. What makes Conway truly special is its access to breathtaking natural beauty. Positioned near the stunning Conway Lake and Diana’s Bath waterfalls, residents are treated to picturesque landscapes that showcase the best of New Hampshire’s outdoor wonders.
One of the primary advantages of living in Conway is its lower cost of living compared to the state average. This makes it an attractive option for individuals and families seeking affordable housing and living expenses in New Hampshire. The town’s affordable cost of living allows residents to enjoy a high quality of life without breaking the bank. Whether you’re looking to purchase a home or rent an apartment, Conway offers a range of options to suit various budgets.
| Cost of Living | Housing Costs |
|---|---|
| Conway’s cost of living is lower compared to the state average, providing affordable living expenses for residents. | Conway’s housing costs are also more affordable compared to the state average, making it an ideal choice for those seeking affordable housing options. |
With its combination of a close-knit community, access to nature, and affordable living, Conway offers a desirable lifestyle for those looking to settle down in New Hampshire. Whether you enjoy outdoor activities, a friendly community, or simply want to take advantage of the lower cost of living, Conway has it all.
Belmont
Belmont is a small town in New Hampshire with a population of about 7,500. It is known for its excellent renovation of the Belmont Mill, which has won awards for architectural excellence. The cost of living in Belmont is lower compared to the state average, making it a desirable place to live.
With its charming small-town atmosphere and affordable cost of living, Belmont is an attractive option for residents looking for a peaceful community with easy access to outdoor activities. The town offers a range of amenities, including parks, hiking trails, and recreational areas.
In terms of housing costs in Belmont, both renting and buying property are more affordable compared to other parts of New Hampshire. The median home price in Belmont is below the state average, making homeownership a more attainable goal for residents.
Whether you’re drawn to the beautiful natural scenery, the historic charm of the Belmont Mill, or the affordable cost of living, Belmont is a hidden gem in New Hampshire that offers a high quality of life without breaking the bank.
Conclusion
New Hampshire offers a range of affordable places to live, making it an attractive option despite its overall high cost of living. Cities such as Berlin, Claremont, Rochester, Somersworth, and Keene provide lower costs of living compared to the state average, allowing residents to enjoy a comfortable lifestyle without breaking the bank. These cities offer a variety of amenities and attractions, ensuring that residents have everything they need within reach.
Additionally, Bedford, Hanover, and Dover are considered the best cities for families in New Hampshire. These cities boast high median household incomes and offer a wide range of family-friendly activities and services. From top-rated schools to beautiful parks and recreational areas, these cities provide an optimal environment for families to thrive.
Whether you’re searching for an affordable city or a family-friendly community, New Hampshire has options to suit your needs. With its diverse range of affordable places to live, this beautiful state offers a high quality of life without the exorbitant expenses found in many other parts of the country. From low-cost housing to a welcoming community spirit, New Hampshire provides a wonderful place to call home for individuals and families alike.
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Source Links
- https://www.sofi.com/best-affordable-places-to-live-in-new-hampshire/
- https://www.newhomesource.com/learn/affordable-cities-new-hampshire/
- https://www.onlyinyourstate.com/new-hampshire/low-cost-of-living-nh/
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