What’s the cost of living in New Hampshire?

1 min readLast updated March 6, 2024by Charlie Barton

Wondering about the cost of living in New Hampshire? This article summarizes everything you need to know, from tax rates to healthcare costs.

When considering a move to a new state, understanding the cost of living is vital for effective budgeting and financial planning. If New Hampshire is at the top of your list, here are some current statistics related to the cost of living in the state that could help you make up your mind.    

The average cost of living in New Hampshire 

New Hampshire is home to over 1.3 million people. 

According to 2021 data from the Bureau of Economic Analysis, the average total personal consumption cost in New Hampshire comes to $56,727 per year. 

While according to data gathered in 2022 from MERIC, the Missouri Economic Research and Information Center, the state ranks 42nd in a list of states with the lowest to the highest cost of living. 

Housing costs in New Hampshire 

As of March 2023, the average home value in New Hampshire is estimated to be around $429,421, according to the Zillow Home Value Index as of March 2023.  

It’s important to note that housing prices can significantly differ across various regions within the state. Here are some examples of typical home prices based on Zillow's data:

CityAverage Home Value
Manchester $378,475
Nashua $428,467
Concord $369,134
Derry $434,353
Dover $449,982

The monthly rental price ranges across the state for those considering renting in New Hampshire. For example, a one-bedroom apartment in Portsmouth, NH is $1,300 and a two-bedroom costs $1,743. 

In addition, understanding these costs in relation to the average salary in New Hampshire is crucial for realistic budgeting.

Utility costs in New Hampshire 

Utility costs play a significant role in New Hampshire's overall cost of living. According to Forbes, the average monthly cost is around $434.  

UtilityAverage cost in New Hampshire
Energy bill $125.24
Monthly water bill $27
Internet $30
Natural gas $90
Phone bill $114
Streaming $48

Grocery and food costs in New Hampshire 

When it comes to groceries and food costs, New Hampshire generally aligns with prices found elsewhere in the United States.   

According to Zippia, those in Manchester pay $183 on average each month. This is the lowest in the country.  

According to 2021 data from the Bureau of Labor Statistics, the average spending on food at home is $5,259 annually, or about $438 per month for US households.   

Transportation costs in New Hampshire 

Transportation costs, including gas prices and vehicle maintenance, impact New Hampshire's overall cost of living.  

According to MIT, a single adult with no children can expect to pay upwards of $4,400. 

Gas prices in New Hampshire are typically in and around the national average. At the time of writing, New Hampshire was lower than the national average. These prices fluctuate over time.   

It is also worth noting that prices can vary across different regions within the state.  

Healthcare costs in New Hampshire 

Understanding healthcare expenses is crucial when considering the cost of living.  

The specific healthcare costs in New Hampshire can vary depending on factors such as insurance coverage and individual circumstances. Therefore, it is advisable to research and consult with healthcare providers and insurance companies to obtain accurate cost estimates. 

MIT estimates:

ScenarioAnnual healthcare expenditure
One adult, no children $3,380
One adult, one child $9,012
One adult, two children $9,022
Two adults (one working), no children $7,341
Two adults (one working), one child $9,022
Two adults (one working), two children $8,947
Two adults (two working), no children $7,341
Two adults (two working), one child $9,022
Two adults (two working), two children $8,947

Childcare costs in New Hampshire 

Families in New Hampshire currently pay around $10,802 per year for childcare for one child. This figure doubles for two children.   

However, it's important to note that this figure can vary across the state.  

Taxation in New Hampshire 

New Hampshire has no state income tax. 

Here's a comparison of income tax rates among some neighboring states:  

StateState Income Tax Rate
New Hampshire No state income tax
Maine 5.00% - 7.15%
Massachusetts 5.00%
Vermont 3.35% - 8.75%
New York 4.00% - 8.82%

New Hampshire does not have a statewide sales tax. However, a 9% meals and rooms tax applies to prepared meals, restaurant purchases, and lodging accommodations. 

The bottom line 

The amount of money needed to live comfortably in New Hampshire can vary depending on location, lifestyle, family size, and personal preferences. However, as the most expensive state in the US, you may need more than you first think. 

It's essential to consider these factors, along with personal circumstances and preferences, when evaluating the cost of living in New Hampshire. In addition, consulting with a financial advisor can provide valuable insights and assistance in managing expenses and financial planning. 

Get expert financial advice and learn more about the cost of living and how to manage it with an SEC-regulated advisor. Let Unbiased match you with the best financial advisor for your needs. 


Charlie Barton

Charlie Barton is a writer at Unbiased. He has been writing about personal finance and investing since 2017, with extensive knowledge of platforms and products. Charlie has a first-class degree from the London School of Economics.