New Hampshire Cost Of Living Statistics 2023: Facts about Cost Of Living in New Hampshire reflect the current socio-economic condition of the state.
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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On this page, you’ll learn about the following:
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
One of the benefits of considering the cost of living in New Hampshire is that it provides a snapshot of the overall affordability of the state. By looking at indicators such as housing costs, healthcare expenses, and transportation costs, individuals can get a sense of how far their income will stretch in the state. This information can be particularly useful for those considering a move to New Hampshire or for residents looking to budget effectively and plan for their financial future.
Additionally, the cost of living in New Hampshire can be a valuable tool for policymakers and legislators. By understanding the financial strain that many residents are under, they can make informed decisions about issues such as minimum wage, affordable housing initiatives, and healthcare reform. These efforts can help to improve the quality of life for all New Hampshire residents and ensure that the state remains an attractive place to live and work.
On the other hand, critics argue that the cost of living in New Hampshire may not tell the full story. While it can provide a general overview of expenses in the state, it may not account for individual circumstances or differences in income levels. For example, a cost of living index may not capture the nuances of affordable housing options in different regions of New Hampshire or the impact of rising healthcare costs on low-income families.
Furthermore, some argue that focusing solely on the cost of living may overlook other important factors that contribute to a high quality of life. A lower cost of living does not necessarily equate to a better standard of living if residents are not able to access quality education, healthcare, or cultural amenities. By solely looking at affordability, we may miss the bigger picture of what makes a place truly livable and thriving.
In conclusion, the New Hampshire cost of living is a useful tool for assessing affordability and financial stability in the state. It can help individuals make informed decisions about their finances and assist policymakers in addressing areas of need. However, it is important to consider the limitations of this metric and to look at other factors that contribute to a high quality of life. By taking a holistic approach to understanding the challenges and opportunities in New Hampshire, we can work towards creating a more equitable and prosperous state for all its residents.
Reference
- nhfpi – https://nhfpi.org/resource/new-hampshires-workforce-wages-and-economic-opportunity/
- 247wallst – https://247wallst.com/state/how-the-cost-of-living-in-new-hampshire-compares-to-the-nation/