Cost of Living in New Hampshire

cost of living in New Hampshire 2021

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    (Last Updated – 12/2021)

    New Hampshire has been one of the most popular states to move to in recent years, according to research conducted by U.S. News & World Report. It’s easy to see why.

    New Hampshire offers residents close proximity to stunning nature, rich history, and culture. All of the perks of residing in New Hampshire may be why it’s one of the most expensive states to live in.

    To better understand the New Hampshire cost of living and how your budget would be affected by a move to the Granite State, keep reading.

    What’s the Average Cost of Living in New Hampshire?

    Average Cost of Living in New Hampshire: $51,760 per year

    If you’re considering relocating to this New England state, the cost of living could affect your monthly budget.

    According to MERIC data gathered in the third quarter of 2021, New Hampshire has the 38th lowest cost of living in the country. If New Hampshire exceeds your budget, don’t bank on finding an affordable nearby state to move to. All of the states around New Hampshire — Maine, Massachusetts, Connecticut, Rhode Island, and New York — are some of the most expensive in the country to live in.

    What would it cost you to live a bit farther south? Residents of South Carolina can expect to spend less, as the state came in three spots ahead of North Carolina when looking at the least expensive states to live in.

    So, what is the cost of living in New Hampshire? According to 2020 data from the Bureau of Economic
    , the average total personal consumption cost in New Hampshire comes to $51,760 per year. Here’s where that spending is going, specifically.


    Average Annual Per-Capita Cost in New Hampshire

    Housing and Utilities


    Health Care


    Food and Beverages (non-restaurant)


    Gas and Energy Goods


    All Other Personal Expenditures


    That works out to $4,313 in average monthly expenses for each Granite Stater.

    Housing Costs in New Hampshire

    Average Housing Costs in New Hampshire: $756 to $1,948 per month

    New Hampshire has only 642,315 housing units, according to the latest census data, and a typical home value of about $390,000 in late 2021, Zillow noted.

    Here’s what you can expect to spend monthly on housing in New Hampshire, per 2019 census data:

    •  Median monthly mortgage cost: $1,948

    •  Median studio rent: $756

    •  Median one-bedroom rent: $900

    •  Median two-bedroom rent: $1,273

    •  Median three-bedroom rent: $1,392

    •  Median four-bedroom rent: $1,458

    •  Median gross rent: $1,147

    How much the average home costs depends on where it is, of course. Let’s take a look at the typical home values for major New Hampshire cities, according to Zillow, in late 2021.

    New Hampshire City

    Typical Home Price













    Utility Costs in New Hampshire

    Average Utility Costs in New Hampshire: $402 per month

    What should you expect to spend on utilities monthly in New Hampshire? Here’s a breakdown of the average utility spending across major categories.


    Average New Hampshire Bill





    Cable & Internet




    Sources: U.S. Energy Information Administration, Electric Sales, Revenue, and Average Price, 2021;; DoxoInsights, U.S. Cable & Internet Market Size and Household Spending Report 2021; and, What Is the Average Water Bill?

    Groceries & Food

    Average Grocery & Food Costs in New Hampshire: $365.25 per person, per month

    So you can budget accordingly, let’s take a closer look at how much you’d likely spend on food on average in New Hampshire. The Bureau of Economic Analysis puts the average annual (non-restaurant) food cost per person at $4,383, or about $365 a month.

    The Council for Community and Economic Research ranks the food costs in major American cities. The only major New Hampshire city the council examined was Manchester. This is Manchester’s grocery costs ranking for the second quarter of 2021.

    New Hampshire City

    Grocery Items Index




    Average Transportation Costs in New Hampshire: $4,332 to $11,773 per year

    How many people you need to schlep to work, school, and recreation activities will affect how much you spend on transportation each year. To give you a better idea of what your family may spend on transportation in New Hampshire, here’s a breakdown of average spending, according to MIT’s Living Wage Calculator .

    Family Makeup

    Average Annual Transportation Cost

    One adult, no children


    Two working adults, no children


    Two working adults, two children


    Health Care

    Average Health Care Costs in New Hampshire: $8,759 per person, per year

    How much you’d need to budget for health care in New Hampshire depends on medical needs and type of coverage. That said, the average annual per-person cost of health care in New Hampshire is $8,759, according to the 2020 Bureau of Economic Analysis Personal Consumption Expenditures by State report.

    Child Care

    Average Child Care Costs in New Hampshire: $781 to $1,091 or more per child, per month

    Parents know that child care is a major expense.

    Those who meet certain income requirements and are working, searching for work, or participating in a training program might catch a break with child care scholarships .

    This is what many parents can expect to spend on child care costs in New Hampshire, per 2021 data from .

    Type of Child Care

    Average Cost Per Month, Per Child

    Infant Classroom


    Toddler Classroom


    Home-based Family Child Care



    Tax Rate in New Hampshire: 5% on interest and dividends

    New Hampshire taxes interest and dividend income and is the only state to do so, says the Tax Foundation . The rate is 5% but will be phased out by 2027.

    If you’re looking to save on taxes before then, you might consider moving to a state with no income tax: Alaska, Florida, Nevada, Washington, South Dakota, Tennessee, Texas, or Wyoming.

    Miscellaneous Costs

    If personal expenditures in New Hampshire average $28,498 per person each year, some of that could be spent on fun. Here are a few ideas (costs are accurate as of Nov. 24, 2021):

    •  Learn more about architecture and the work of Frank Lloyd Wright at the Currier Museum of Art in Manchester: $15 (kids), $20 (students), or $35 (adults) for regular admission.

    •  Get the kids’ imagination flowing in the city of Glen at Story Land, where fairytales come to life: Season passes start at $49.99.

    •  Enjoy some time in nature at Franconia Notch State Park in Lincoln: $2 (kids) to $4 (adults) per day.

    How Much Money Do You Need to Live Comfortably in New Hampshire?

    Your family size, lifestyle, and other unique factors will influence how accessible a comfortable style of living is in New Hampshire, but let’s just say that comfort will come at a price.

    New Hampshire ranks 38th on U.S. News & World Report’s Affordability Rankings , which measure the average cost of living in a given state against the average amount of money that state’s households have.

    MERIC’s ranking agrees: It, too, found that New Hampshire has the 38th lowest cost of living in the country among the 50 states and Washington, D.C.

    What City Has the Lowest Cost of Living in New Hampshire?

    The Council for Community and Economic Research singled out Manchester as the major New Hampshire city with the lowest cost of living.


    With a cost-of-living index of 111, Manchester is a relatively affordable city. (It’s all relative, right?) Manhattan has a staggering cost-of-living index of 241, which makes Manchester seem like a bargain.

    Even though Manchester is relatively small, with 112,673 residents as of the last census check, it’s home to more than 8,000 businesses. The homes here aren’t cheap (see above).

    SoFi Home Loans

    New Hampshire is a beautiful state with a lot to offer. If you’re ready to face the New Hampshire cost of living and put down roots, it might be time to shop for a home and a mortgage.

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