What Are The Pros and Cons Of Living In New Hampshire?
Living in New England is worth it for the scenery alone, and New Hampshire is no exception. New Hampshire is a distinct, safe, and comfortable state that is a great place to call home. Of course, living in New Hampshire means that you have to take the good with the bad.
There are pros and cons to living in New Hampshire, the pros being lack of sales tax and state income tax.. Rent is affordable as well. The cons are that property taxes are higher, and there is a lack of solid public transportation so if you don’t drive, this may be an issue.
There’s no perfect place to live, but New Hampshire does come close to it. Follow along as we take a close look at the pros and cons of living in New Hampshire.
What Are The Benefits Of Living In New Hampshire?
Living in New Hampshire means that you have a low cost of living and all of the benefits it brings. Low housing prices, no state income tax, and one of the lowest crime rates in the country are what you’ll find in New Hampshire. Let’s explore some of the key benefits of living in New Hampshire.
1. Affordable Housing
Housing prices in New Hampshire are affordable, and just over 71% of the population owns their homes. The median home value recently shot up to $261,700 from $252,800, but that’s still affordable for many residents. Monthly ownership costs can total up to $1,948, but that varies based on mortgage rates and utilities.
Some New Hampshire cities, such as Concord, are highly affordable and boast a $218,600 median home value. Throughout the state, the average cost of rent is $1,111 per month. Rent is cheaper in cities like Concord with an average $1,083 per month cost for residents.
Rent Comparison Chart
|Location||Median Home Value||Average Rent|
One of the most affordable housing options you can find in New Hampshire is the city of Suncook. The $183,100 median home value and $793 per month average rent are unbeatable. The price per square foot to build a house in Concord, NH is $143.
2. Low Tax Rates
Much like the cost of living in Florida, state income tax is not a factor in New Hampshire expenses. The 0% state income tax rate in New Hampshire is a blessing, but investment income is taxable. You pay a 5% tax on interest and dividends from investments in New Hampshire.
You can also make purchases in New Hampshire without worrying about sales tax because there is none. The only slightly high tax rate in New Hampshire is the 2.20% property tax rate that applies to homeowners. New Hampshire’s current average property tax payment is $5,768, but the low tax rates make up for it.
Tax Comparison Chart
|Taxes||Average Rate & Cost|
|State Income Tax||0% (5% For Investment Income)|
|Gasoline Tax||$0.23 Per Gallon|
Even the gasoline tax rate in New Hampshire is low and totals $0.23 per gallon. New Hampshire is known for having some of the lowest tax rates in the United States, and it’s a major benefit.
3. Low Crime
New Hampshire always ranks among the Top 10 Safest Places to Live in the United States. Violence is extremely rare in New Hampshire and only affects 1 in 577 residents. Property is more common and occurs at a rate of 1 in 80, but it’s still below the national average.
There are only 4 crimes per square mile in New Hampshire, and there are 31 crimes per square mile in America. Danville, Atkinson, Hollis, and Windham are among the safest places to live in New Hampshire. Currently, the two most dangerous cities in New Hampshire are Rochester and Manchester.
Crime Comparison Chart
|Location||Violent Crime||Property Crime||Total Crime|
|New Hampshire||1.73 Per 1,000||12.48 Per 1,000||14.22 Per 1,000|
|Texas||4.11 Per 1,000||23.67 Per 1,000||27.78 Per 1,000|
|Massachusetts||3.38 Per 1,000||12.63 Per 1,000||16.01 Per 1,000|
The most common crime in New Hampshire is theft, and the theft rate is 10 per 1,000 residents. All in all, New Hampshire is a safe state with a lower crime rate than most of the United States.
4. Best Place To Live
Nashua, New Hampshire has been ranked as the best place to live in the United States many times. Not only is Nashua a standout within New Hampshire, but its affordability and safety also make it ideal for anywhere.
5. Great Outdoors
Do you love trails? What about gorgeous mountain scenes, lush forests, and plenty of parks for biking, hiking, jogging, and more?
If that sounds like your cup of tea, then you’re going to love the life that New Hampshire has. Most of the state is strictly pastoral, so you will be able to enjoy your camping, fishing, and fun in the sun for days on end.
The Granite State is particularly popular when it comes to skiing. So if you enjoy a quick glide down a mountain, it’s definitely a state that you want to visit.
6. Incredible Education
New Hampshire is an academic state, through and through! This state currently ranks in the top five in the nation when it comes to education.
The schools here are excellently funded, and the teacher-to-student ratio is low. Schools are generally very safe, and if you want to go to college here, it’s fairly possible to get on an Ivy League track.
Along with top-of-the-line public schools, some of the best private schools in America call New Hampshire home.
In fact, some of the schools that are found within the state’s borders could definitely be considered to be elite. The Philips Exeter Academy is one such school, and it’s so selective, that only 15 percent of applicants actually get in.
7. A Booming Economy
The unemployment rate in New Hampshire is low as can be. In 2021, the adjusted unemployment rate was only 3.3 percent. Surprisingly, this low rate also comes with relatively high-paying jobs. Major private sector names like Oracle, UPS, and BAE Systems have made this state home for both local and corporate means.
The average person in New Hampshire makes about $65,421 annually. This makes this state one of the best in the nation for people who want to have a high wage.
What Are The Downsides Of Living In New Hampshire?
A high unemployment rate and expensive private education are major downsides of living in New Hampshire.
New Hampshire is a great place to live, but the poor public transportation system means owning a car is necessary. There are some downsides to living in New Hampshire, and we will dive into them right now.
1. Unemployment Rate
The current unemployment rate in New Hampshire is 3.5%, and that’s high for a small state. Only 67.5% of New Hampshire residents are currently in the state’s workforce. Unemployment leads to poverty, and the current poverty rate in New Hampshire is 7.3%.
For those that are employed, the median income for a single resident is $40,003 per year in New Hampshire. The most common jobs in New Hampshire are in construction, metal and plastic work, and engineering technicians. Unfortunately, some of these fields have seen a decline in the last few years.
2. Bad Public Transportation
Only 15 cities in New Hampshire have public transportation, and that doesn’t cut it for everyone. There are currently 1,359,711 residents in New Hampshire, and not all of them have access to public transit.
The two best examples of public transportation in New Hampshire are Manchester and Concord, but that’s not helpful to residents of other cities.
Public transportation is fairly expensive in cities like Manchester, New Hampshire. Single-day bus passes cost up to $5 per person, and that adds up. Even using a $ 60-month pass, you could spend up to $720 per year on public transit in New Hampshire.
Cost For Public Transportation
|Manchester Public Transportation||Cost|
|Single Day Bus Pass||$2.50-$5.00|
|7 Day Bus Pass||$20.00|
|30 Day Bus Pass||$60.00|
The only upside to the poor public transportation in New Hampshire is that it’s expanding right now. Within the next three years, New Hampshire residents will have access to a light rail system that should prove helpful.
Until then, it’s hard to depend on adequate public transportation in New Hampshire, and driving is the best choice.
3. Expensive Education
If you don’t utilize public schools in New Hampshire, you’ll have to spend a lot of money on private tuition.
The average cost of private tuition in New Hampshire is $19,386 per year, and that’s quite expensive. Private high school tuition in New Hampshire costs an average of $28,220 per year and is difficult for many to afford.
The cheapest private education in New Hampshire is elementary school, and it averages $8,511 per year. College is also expensive, and the University of New Hampshire costs between $18,879 and $35,409 per year.
Granted, New Hampshire is known for being well educated, but it’s hard to swing spending that much on private tuition.
4. Little Diversity
One of the issues that New Hampshire has is its reputation for being incredibly non-diverse. Sadly, there’s no way to ignore the statistics. The reputation is true.
New Hampshire regularly tops the charts as one of the least diverse states in the Unions. If you are hoping to see a lot of different cultures, then New Hampshire might be too homogenous for your tastes.
|Race||Percentage Of Population|
5. Cold Weather
Considering how close New Hampshire is to Canada, it’s not surprising that you will have some icy weather during the winter.
It’s not unusual to see extreme snowfall and bitterly cold temperatures that regularly dip into the single digits during the rougher parts of winter. On average, New Hampshire will have 70 inches of snow per year, far more than the national average of 28 inches.
6. Working In Boston
Many New Hampshire residents commute to Boston, which is a blessing and a curse. Any employment is good, but if you work in Boston you will be subject to income tax. New Hampshire residents may be free of income tax, but not if they commute to Boston.
Commuters working in Boston will have to pay the 5% state income tax imposed by Massachusetts. It’s a blessing to be able to commute to a city with so many job opportunities, but the taxes are a downside. If you work in Boston as a New Hampshire resident, be prepared to pay income tax that you may not be used to.
Is New Hampshire a good place to vacation?
Believe it or not, this is actually a major industry for the Granite State. During the summer, many people from Boston and New York City choose to take time away from the city and enjoy time out in the mountains. One of their top choices for a vacation destination? It’s New Hampshire.To a point, this can actually impact locals’ lives during the summer months. Traffic can get a little rough around here, but once you get used to it, you’ll be totally fine.
How is the property tax rate in New Hampshire?
While most state taxes are considered to be pretty affordable or are downright nonexistent, property taxes are a nightmare.The state currently has one of the highest property tax rates in America. It’s not uncommon to hear of middle-class homeowners paying as much as $7,000 a year on property taxes.The obvious choice for many people who want to enjoy a lower tax rate, then, is to stick to renting. This is usually one of the deciding factors New Hampshire locals have when they choose to rent a place.
Summing It Up
New Hampshire is a great place to live, and the low tax rates are incentive enough to move there. Education and property taxes may be pricey, but the 0% sales and state income tax in New Hampshire are inviting. New Hampshire boasts one of the lowest crime rates in the United States, and residents are quite safe.
Public transportation is a downside of living in New Hampshire, but the state is working towards expanding it. Nashua, New Hampshire has been routinely ranked as the greatest place to live in America. No matter where you choose to live in New Hampshire, housing prices are generally affordable for all.
If you’re on the fence about moving to New Hampshire, you have nothing to fear. Take advantage of the affordable housing and low tax rates, and you’ll enjoy this jewel of New England.
Nick Durante is a professional writer with a primary focus on home improvement. When he is not writing about home improvement or taking on projects around the house, he likes to read and create art. He is always looking towards the newest trends in home improvement.
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