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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Related Questions

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.

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.