Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Counties in New Hampshire
Housing Market Overview
| Metric | New Hampshire | US Average |
|---|---|---|
| Median Home Price | $273,705 | $242,182 |
| Price Trend (Annual %) | 5.1% | 8.2% |
| Median Gross Rent | $1,422 | $1,342 |
| Rent Trend (Annual %) | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — |
The median home price in New Hampshire is about 13% higher than in US. Rent is about 6% higher than the US average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in New Hampshire, up about 5.1% and 4.9% a year respectively. Home prices are changing faster.
Median rent in New Hampshire rose about 42.2% between 2015 and 2023, from $1,000 to $1,422. Over the same span, rent in US rose about 45.1%.
Affordability
On average, housing unit costs 2.8 yearly household incomes in New Hampshire.
Buying the median-priced home in New Hampshire costs roughly 16.0 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in New Hampshire. The price-to-rent ratio in US is about 15.0.
| Metric | New Hampshire | US Average |
|---|---|---|
| Median Home Price | $273,705 | $242,182 |
| Median Household Income | $96,071 | $78,145 |
| Price-to-Income Ratio | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in New Hampshire rose about 38.5%, while median household income rose about 51.9% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | New Hampshire | US Average |
|---|---|---|
| Homeownership Rate | 62.0% | 58.2% |
| Rental Rate | 23.5% | 31.3% |
| Vacancy Rate | 14.4% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 |
New Hampshire has a homeownership rate of 62.0%, higher than the US average of 58.2%. Its housing vacancy rate is 14.4%, compared with 10.6% in US.
Housing Stock
| Metric | New Hampshire | US Average |
|---|---|---|
| Average Household Size | 2.44 people | 2.54 people |
| Median Structure Built Year | 1974 | 1978 |
| Median Number of Rooms | 5.6 | 5.5 |
The typical housing unit in New Hampshire was built around 1974. On average, 2.4 people live in a home with about 5.6 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in New Hampshire.
What is the median home price in New Hampshire?
The median home price in New Hampshire is $273,705, higher than the US average of $242,182.
What is the average home price in New Hampshire?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in New Hampshire?
The median gross rent in New Hampshire is $1,422 per month, higher than the US average of $1,342.
What was the median gross rent in New Hampshire in 2020?
In 2020, the median gross rent in New Hampshire was $1,144 per month.
What is the price-to-rent ratio in New Hampshire?
The price-to-rent ratio in New Hampshire is about 16.0, meaning it would take roughly 16.0 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in New Hampshire.
Are home prices or rent rising faster in New Hampshire?
Both home prices and rent are rising in New Hampshire, up about 5.1% and 4.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in New Hampshire?
62.0% of households in New Hampshire own their home, higher than the US average of 58.2%.
What is the vacancy rate in New Hampshire?
The housing vacancy rate in New Hampshire is 14.4%, higher than the US average of 10.6%.