New Hampshire Cost Of Living Statistics


Steve Goldstein
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.

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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

When it comes to New Hampshire, the cost of living is a mixed bag. On one hand, the state boasts a relatively low unemployment rate and a higher-than-average median household income compared to the national average. This can be attributed to the state’s strong industries such as manufacturing, healthcare, and education, which provide ample job opportunities for residents.

However, as with many states, the cost of housing in New Hampshire can be a significant burden for many individuals and families. The state’s housing market has been on the rise in recent years, leading to an increase in rental and homeownership costs. This can be particularly challenging for lower-income residents who may struggle to afford a place to live in a desirable area.

Additionally, certain expenses such as healthcare and transportation can also add to the overall cost of living in New Hampshire. Healthcare costs have been steadily increasing across the country, and New Hampshire is no exception. Access to quality healthcare is essential for individuals and families, but the rising costs can pose a significant financial burden for many residents.

Transportation costs can also be a factor to consider in New Hampshire, especially for those who rely on their vehicles to commute to work or navigate the state’s rural areas. The cost of gas, maintenance, insurance, and registration fees can all add up over time, making it important for residents to budget accordingly for these expenses.

Despite these challenges, it’s important to note that the cost of living in New Hampshire also comes with its perks. The state boasts a high quality of life, with beautiful natural landscapes, outdoor recreational activities, and a strong sense of community. Residents have access to excellent schools, healthcare facilities, and cultural amenities that can enhance their overall well-being.

In conclusion, the cost of living in New Hampshire is a multifaceted issue that requires careful consideration. While the state offers a strong economy and job opportunities, the rising costs of housing, healthcare, and transportation can pose challenges for residents. It’s important for individuals and families to weigh the pros and cons of living in the state and to make informed decisions based on their unique financial circumstances. By understanding and planning for the cost of living in New Hampshire, residents can better navigate the expenses associated with daily life and ultimately enjoy all that the state has to offer.

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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