New Hampshire Cost Of Living Statistics


Steve Goldstein
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New Hampshire Cost Of Living Statistics 2023: Facts about Cost Of Living in New Hampshire reflect the current socio-economic condition of the state.

new-hampshire

LLCBuddy editorial team did hours of research, collected all important statistics on New Hampshire Cost Of Living, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to start a New Hampshire LLC business in 2023? Maybe for educational purposes, business research, or personal curiosity, whatever it is – it’s always a good idea to gather more information.

How much of an impact will New Hampshire Cost Of Living Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

Please read the page carefully and don’t miss any words.

Top New Hampshire Cost Of Living Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 6 New Hampshire Cost Of Living Statistics on this page 🙂

New Hampshire Cost Of Living “Latest” Statistics

  • Based on the most recent estimates from 2017, approximately 47% of New Hampshire renters were spending greater than 30% of their income on rental costs.[1]
  • Along with the continued increase in the cost of renting the vacancy rate of units across the state has continued to drop and currently sits below 1%.[1]
  • Food, housing, utilities, transportation, and health care are the five main consumer categories that the index takes into account; health care is the most costly of these in New Hampshire when compared to national pricing, costing roughly 15.8% more than the national average.[2]
  • According to the Missouri Economic Research and Information Center’s composite cost of living index, New Hampshire has a cost of living that is 9.9% greater than the national average.[2]

New Hampshire Cost Of Living “Be” Statistics

  • The U.S. median household income was predicted to be $60,336 per year in 2017, whereas the median household income in New Hampshire was estimated to be $73,381 per year.[1]

New Hampshire Cost Of Living “Other” Statistics

  • According to estimates, the percentage of senior residents in the state will reach roughly 34% by 2035.[1]

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How Useful is New Hampshire Cost of Living

New Hampshire’s cost of living is often a topic of discussion among residents and potential newcomers alike. For some, the state’s cost of living can be a significant concern, as it is higher than the national average in various categories. Housing costs, in particular, can be a significant expense in New Hampshire, especially in popular cities like Portsmouth, Manchester, and Nashua. Rent prices and property taxes can put a strain on individuals and families, impacting their overall financial well-being.

However, it is essential to note that the cost of living in New Hampshire is not solely determined by high housing costs. Other factors, such as healthcare, utilities, and transportation, also contribute to the overall expenses individuals face. While these costs may not be as high as housing in some cases, they can still add up and affect the overall affordability of living in the state.

Despite the higher cost of living, many argue that New Hampshire offers a high quality of life that may justify the expenses. The state boasts excellent public schools, low crime rates, and stunning natural landscapes that provide endless opportunities for outdoor recreation. Additionally, New Hampshire has a strong economy, with low unemployment rates and a diverse range of job opportunities in various industries.

For some, the higher cost of living in New Hampshire is offset by the state’s lack of sales or income tax. Residents can save money by not having to pay these taxes, which can make a significant impact on their overall financial situation. Moreover, the state’s high median household income compared to the national average can also help residents cover the higher cost of living.

Ultimately, the usefulness of New Hampshire’s cost of living depends on individual circumstances and priorities. For some, the state’s high cost of living may be a barrier to moving or settling down in the area. Others may find that the benefits of living in New Hampshire outweigh the expenses and choose to make it their home despite the costs.

Overall, it is essential for individuals considering a move to New Hampshire to thoroughly research and understand the state’s cost of living. By doing so, they can make informed decisions about whether or not the state is a suitable and financially feasible place for them to live.

Reference

  1. nhfpi – https://nhfpi.org/resource/new-hampshires-workforce-wages-and-economic-opportunity/
  2. 247wallst – https://247wallst.com/state/how-the-cost-of-living-in-new-hampshire-compares-to-the-nation/

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