What’s the cost of living in New Hampshire?

1 min readLast updated May 25, 2023by Charlie Barton

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.

Typical Home Prices in New Hampshire (Zillow Data):

  1. Dover: $449,982

  2. Derry: $434,353

  3. Nashua: $428,467

  4. Manchester: $378,475

  5. Concord: $369,134

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.

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.

Average Monthly Utility Costs in New Hampshire:

  1. Energy bill: $125.24

  2. Monthly water bill: $27

  3. Internet: $30

  4. Natural gas: $90

  5. Phone bill: $114

  6. 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.

Annual Health Expenditure in New Hampshire Estimated by MIT:

  1. One adult, no children: $3,380

  2. One adult, one child: $9,012

  3. One adult, two children: $9,022

  4. Two adults (one working), no children: $7,341

  5. Two adults (one working), one child: $9,022

  6. Two adults (one working), two children: $8,947

  7. Two adults (two working), no children: $7,341

  8. Two adults (two working), one child: $9,022

  9. 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.

Taxes in New Hampshire compared to neighboring states:

  1. New Hampshire Income Tax Rate: No state income tax

  2. Maine Income Tax Rate: 5.00% - 7.15%

  3. Massachusetts Income Tax Rate: 5.00%

  4. Vermont Income Tax Rate: 3.35% - 8.75%

  5. New York Income Tax Rate: 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.

Whether you’re retirement planning or considering relocating to chase a new career, Unbiased can assist you with your move's financial ins and outs. Find the right advisor for your needs today.


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.