new hampshire real estate - craigslist (2024)

FAQs

Why is real estate so expensive in New Hampshire? ›

Low supply of residential housing is in part caused by high mortgage rates being faced by the entire country, as well as restrictive zoning. Rate cuts could encourage sellers to list their properties in New Hampshire, thus improving inventory and supply. However, new housing stock is still needed.

The absence of state income tax and sales tax creates a favorable environment for property owners. Additionally, property tax rates in New Hampshire are relatively low compared to many other states, allowing investors to keep more of their rental income.

Seller Market Trends

Sellers are experiencing a favorable market in New Hampshire, chiefly due to a lower-than-average inventory of homes for sale. This has resulted in a dynamic where seller's market conditions are prevalent, with many homeowners seeing their properties sold relatively quickly.

The latest NHAR trends report for April shows that the new $525,000 median price for a single-family home is 13.7% higher than it was in April 2023. While not a record, residential condominium pricing for April was $400,000, an 11% bump from last April.

Prices have been steadily climbing ever since 2012, and though housing market fundamentals are not comparable to those which prompted the recession, the steady increase in median price — rising to $395,000 in 2021 and heading for well over $400,000 in 2022 — has created an affordability and availability crisis, ...

The cost of living in NH is 15% less than MA. The cost of groceries in NH is 14% less than MA. The cost of housing in NH is 25% less than MA.

New Hampshire property taxes are high because the state does not have a state personal income tax or sales tax, relying heavily on property taxes to fund local services.

New Hampshire is an attractive destination for retirees who can save big on their retirement funds by lowering their tax burden. New Hampshire does not impose state income tax, meaning you do not pay tax on your retirement income. This includes income from your 401(k), IRA, pension, and Social Security.

“It's no secret New Hampshire is experiencing a housing shortage—we need 90,000 new units by 2040 to meet expected demand,” said Congresswoman Kuster.

What is the number one industry in New Hampshire? ›

Overview of the New Hampshire Economy

The top three sectors by total employment are Real Estate and Rental and Leasing, Professional, Scientific and Technical Services, Manufacturing, while the unemployment rate across the state in 2024 was 2.8%.

Overall, sold prices in Hampshire over the last year were 3% down on the previous year and 4% up on the 2021 peak of £396,835. Who provides this information? English and Welsh house price data is publicly available information produced by the HM Land Registry. This material was last updated on 7 August 2024.

Declining Inventory of Single-Family Houses

Rapidly increasing housing prices across the Granite State reflect the drastic decline in inventory for single-family houses on the market. According to NHAR, there were a total of 1,435 single-family houses on the market across the entire state in April 2024.

However, by building your own home you get a brand-new residence, customized to your needs. It costs $299,900 on average to build a home in New Hampshire. This figure can add up to $480,400 if you include land costs, excavations, permits, and other expenses. A new home construction can take up to 9 to 12 months.

Average Cost of Living in New Hampshire: $56,727 per year

If New Hampshire exceeds your budget, don't bank on finding an affordable nearby state to move to. All of the states around New Hampshire — Maine, Massachusetts, Connecticut, Rhode Island, and New York — are some of the most expensive in the country to live in.

New Hampshire is known as a low-tax state. But while the state has no personal income tax and no sales tax, it has the fourth-highest property tax rates of any U.S. state, with an average effective rate of 1.77%.

How Much Do You Need to Make to Live Comfortably in New Hampshire? According to Go Banking Rates, a single person in New Hampshire needs to make about $62,935 in order to live comfortably. It is about $66,000 in Vermont, and about $88,000 in Massachusetts.

Pro: High quality of life

The state boasts a high quality of life with its safe communities, excellent schools, and access to quality healthcare. New Hampshire's small-town charm combined with its natural beauty creates a peaceful and fulfilling living environment.

There are many reasons for the shortage: a misalignment between housing supply and future demand, shifts in housing preferences among younger generations, and an aging population, among them.