According to GoBankingRates.com, in an article titled “The Salary You Need to Afford Rent in Every State,” a resident of New Hampshire would need to make approximately $69,920 per year in order to afford a single-family residence without having your monthly rent consume more than 30 percent of total income.
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How much does it cost to live comfortably in New Hampshire?
An amount below 100 means New Hampshire is cheaper than the US average. A cost of living index above 100 means New Hampshire, New Hampshire is more expensive.
New Hampshire cost of living is 105.4.
| COST OF LIVING | New Hampshire | United States |
|---|---|---|
| Housing | 118.6 | 100 |
| Median Home Cost | $357,000 | $291,700 |
| Utilities | 120.5 | 100 |
What is a good salary in New Hampshire?
Average Salary in New Hampshire
| Annual Salary | Monthly Pay | |
|---|---|---|
| Top Earners | $95,167 | $7,930 |
| 75th Percentile | $78,248 | $6,520 |
| Average | $65,421 | $5,451 |
| 25th Percentile | $52,342 | $4,361 |
Is it inexpensive to live in New Hampshire?
New Hampshire has a cost of living that ranks slightly higher than the national average. However, compared to larger metro areas like Boston or New York, New Hampshire is relatively affordable.Another big draw for people who relocate to New Hampshire is the state’s lack of an income tax or sales tax.
What is considered low income in NH?
The Census Bureau data finds an estimated 94,289 people in New Hampshire lived below the federal poverty line in 2016. The poverty threshold used by the Census Bureau for income in the twelve months preceding July 2016 is $12,391 for an individual under 65 years of age and $19,171 for a family of three with one child.
Can I afford to live in New Hampshire?
According to GoBankingRates.com, in an article titled “The Salary You Need to Afford Rent in Every State,” a resident of New Hampshire would need to make approximately $69,920 per year in order to afford a single-family residence without having your monthly rent consume more than 30 percent of total income.
Is it cheaper to live in NH or VT?
The cost of living in Manchester, NH is -10.9% lower than in Burlington, VT. You would have to earn a salary of $53,449 to maintain your current standard of living. Employers in Manchester, NH typically pay 4.2% more than employeers in Burlington, VT.
Is NH a poor state?
All data is from the United States Census Bureau.
States, federal district, and territories.
| Rank | 1 |
|---|---|
| State | New Hampshire |
| 2019 Poverty rate (percent of persons in poverty) | 7.3% |
| 2014 Poverty Rates (includes unrelated children) | 9.5% |
| Supplemental Poverty Measure (2017–2019 average) (Geographically Adjusted) | 8.3% |
Is New Hampshire good place to live?
New Hampshire is one of the safest states to live in the country. The crime rate here is well below the national average and even the larger cities have a reassuringly low statistics, especially when it comes to violent crime.
Is New Hampshire a good place to retire?
A new ranking puts New Hampshire at the top of the list for retirement locations because of its low crime and poverty scores, as well as its health and well-being scores. Rounding out the top five states to retire to were North Dakota, Idaho, Maine and Montana.
What are the winters like in New Hampshire?
Climate and Average Weather Year Round in New Castle New Hampshire, United States. In New Castle, the summers are warm; the winters are freezing, snowy, and windy; and it is partly cloudy year round. Over the course of the year, the temperature typically varies from 20°F to 80°F and is rarely below 6°F or above 88°F.
How much are utilities in New Hampshire?
New Hampshire’s total average utility bill cost per month stands at $477.02. Electricity averages about $169.35 a month, ranking eighth. Natural gas averages around $107.67, ranking 20th. Internet (60 Mbps) costs $60 on average, ranking 27th.
What is the best city to live in in New Hampshire?
Portsmouth and Concord are among the best places to live in New Hampshire. There is no general sales tax or personal income tax in New Hampshire, which attracts many tourists, residents and businesses.
What is the average household income in New Hampshire?
$77,933
Median Household Income
Households in New Hampshire have a median annual income of $77,933, which is more than the median annual income of $65,712 across the entire United States.
Why is poverty so low in New Hampshire?
The low poverty rate is a result of the state’s strong economy and low unemployment rate, said Taylor Caswell, state commissioner of the Department of Business and Economic Affairs. “There is a connection to the economy,” he said. “We have jobs available across the state.”
What is not taxed in New Hampshire?
Overview of New Hampshire Taxes
New Hampshire has no income tax on wages and salaries. However, there is a 5% tax on interest and dividends. The state also has no sales tax. Homeowners in New Hampshire pay the fourth-highest average effective property tax rate in the country.
Can I afford a house on 50k?
A person who makes $50,000 a year might be able to afford a house worth anywhere from $180,000 to nearly $300,000. That’s because salary isn’t the only variable that determines your home buying budget. You also have to consider your credit score, current debts, mortgage rates, and many other factors.
How much do you need for a 400k house?
What income is required for a 400k mortgage? To afford a $400,000 house, borrowers need $55,600 in cash to put 10 percent down. With a 30-year mortgage, your monthly income should be at least $8200 and your monthly payments on existing debt should not exceed $981. (This is an estimated example.)
Can I afford 500k house?
How Much Income Do I Need for a 500k Mortgage? You need to make $153,812 a year to afford a 500k mortgage.In your case, your monthly income should be about $12,818. The monthly payment on a 500k mortgage is $3,076.
Is Vermont better than NH?
In terms of mountains, you’ll certainly find both in either state. However, when it comes to the most mountains and lush greenery, the better bet is Vermont. It’s not so much the fact that Vermont has more of it as much as it’s the fact that many of the state’s lands still remain undeveloped.
Are taxes higher in Vermont or New Hampshire?
The biggest tax difference between the two states is that NH does not have an income tax and VT does (VT tax calculator).
