Nearly half of the state’s renters have housing costs that make them “cost-burdened,” with nearly a quarter paying 50% of their monthly income for housing, according to the latest figures from the American Community Survey.
The state’s homeowners are also feeling the heavy weight of housing costs, with a quarter paying more than 30% of gross monthly income on the cost of keeping a roof over their head.
Households that pay more than 30% of gross income for housing – including mortgage or rent, utilities, homeowner’s insurance and property taxes – are considered cost-burdened.
High housing costs have a ripple effect both for the individuals paying the bills and the state’s economy overall.
“In New Hampshire, far too many Granite Staters are cost-burdened and making impossible choices, cutting back on food, health care, or savings, because their housing costs are far higher than what they can realistically afford,” Nick Taylor, director of NH Housing Action, said. “This isn’t happening because people are spending irresponsibly; it’s happening because there simply aren’t enough homes that meet families’ needs and budgets. When local workers can’t afford to live in the communities they serve, and families can’t afford to put down roots, it strains our economy and weakens our neighborhoods.”
Taylor said the good news is that it’s a solvable problem.
“We can allow more types of homes in more places, like starter homes, townhomes, and small apartments, giving people real choices, reducing the pressure that’s driving up costs, and helping families build stability and opportunity here in New Hampshire,” he said. “We also must support the public-private partnerships that make below-market-rate housing possible to build for our lowest-earning friends and neighbors.”
Renter housing costs
Renters in New Hampshire carry a heavy housing burden. Statewide, of the 156,544 households that pay rent, 43.52% use more than 30% of income for housing costs and 21.3% pay more than 50%.
Of the estimated 56,556 households in Hillsborough County that pay rent, 44.7% have housing costs more than 30% of gross income, and 22.8% pay more than 50% of their income in housing costs.
The median rent in Hillsborough County in 2024 was $1,714, according to the ACS, higher than the state median of $1,558. Both are higher than the national median of $1,487. Median means that half pay more and half pay less.
Of New Hampshire’s New England neighbors, only Massachusetts has a higher median rent, at $1,848. The others are Connecticut, $1,550; Rhode Island, $1,418; Vermont, $1,319; Maine, $1,210.
Homeowner numbers
Statewide, of the 250,792 homeowners with a mortgage, 25.87% have housing costs higher than 30% of their gross income, and 9.87% pay more than 50%.
Of Hillsborough County’s estimated 76,681 homeowners with a mortgage, 24.6% pay more than 30% of their income for housing costs. Some 9.2% of homeowners with a mortgage have housing costs of more than 50% of their gross income.
Homeowners without a mortgage also find it hard to get their monthly housing costs to an affordable level, according to the ACS numbers.
Statewide, 18.18% of the 163,535 homeowners without a mortgage have costs higher than 30% and 9.8% have costs higher than 50%.
In Hillsborough County, of the estimated 38,178 homeowners who don’t have a mortgage, 18.51% pay more than 30% of their gross income for housing costs, and 9.3% pay more than 50%.
One reason household costs are so high for New Hampshire homeowners, mortgage or not, is the state’s high property taxes.
Hillsborough County homeowners with a mortgage paid a median $7,174 in property taxes; those without a mortgage paid $7,138.
The state median was a little lower – $6,909 for those with a mortgage, $6,303 for those without and $6,707 overall – but still high when compared to neighboring states. Median property taxes in the other six New England states are:
- Connecticut: $6,573 overall; $6,688 with mortgage, $6,378 without.
- Massachusetts: $6,080 overall; $6,089 with mortgage, $6,062 without.
- Vermont: $5,026 overall; $5,260 with mortgage, $4,719 without.
- Rhode Island: $4,886 overall; $4,984 with mortgage, $4,713 without.
- Maine: $3,102 overall; $3,318 with mortgage, $2,818 without.