Income needed to buy a house in New Hampshire
A median-priced home in New Hampshire costs $458,800. With 20% down you'd need about $135,430 a year, $35,648 more than the state's median household income of $99,782. New Hampshire ranks #43 of 51 for the lowest income needed.
Income needed: $135,430 a year
Defaults: state median home value and property tax (Census ACS 2024), median homeowners insurance paid by owners with a mortgage (Census ACS 2024; quotes vary by home and ZIP code), 30-year rate 7.24% (Freddie Mac, week of 2026-10-29).
Estimated household income: about $135,430 a year for a $458,800 home in New Hampshire with $91,760 down.
Uses a 28/36 planning rule: modeled housing costs at 28% of gross income, housing plus other debt payments at 36%. Mortgage approval depends on the lender, loan program, credit and other circumstances. Excludes maintenance, repairs and utilities.
| Monthly cost | Amount |
|---|---|
| Principal & interest | $2,501 |
| Property tax | $559 |
| Homeowners insurance | $100 |
| Total | $3,160 |
Monthly cost by down payment
| Down payment | Cash down | Monthly cost | Income needed |
|---|---|---|---|
| 5% | $22,940 | $3,811 | $163,314 |
| 10% | $45,880 | $3,645 | $156,204 |
| 20% | $91,760 | $3,160 | $135,430 |
Income benchmarks use the 28/36 planning rule with no HOA or other debt payments. Mortgage approval depends on the lender and loan program. Monthly costs exclude maintenance, repairs and utilities. Under 20% down includes estimated private mortgage insurance of 0.5% of the loan per year.
Buying in New Hampshire: what's different
- Transfer tax
- 1.5% (0.75% each side)
- On the median home
- $6,880
- Homestead break
- Town exemptions only
- First-time buyer help
- New Hampshire Housing
- Transfer and recording taxes. The real estate transfer tax is 75 cents per $100 charged to the buyer and another 75 cents per $100 to the seller, 1.5% of the price in all. On the median New Hampshire home ($458,800), that's about $6,880 in transfer tax (buyer and seller shares).
- Property tax breaks for your home. There's no general homestead exemption. Every town offers an elderly exemption with its own amounts and limits, but you must have lived in New Hampshire for three years first; file form PA-29 with the town by April 15.
- First-time buyer help. New Hampshire Housing offers First Plus through participating lenders (a lower-rate mortgage for first-time buyers with a fixed $5,000, $10,000 or $15,000 in down payment help). Check its site for income and price limits.
Checked against official sources on September 25, 2026. Local transfer taxes and exemptions vary, so confirm with the county before you close.
Home prices in the New Hampshire metro areas we cover
| Metro area | Income needed | Median home value | Median household income |
|---|---|---|---|
| Boston, MA (9% in NH) | $189,743 | $681,100 | $117,825 |
| Manchester, NH | $141,074 | $476,000 | $106,013 |
With 20% down, the median home takes about $141,074 a year in the Manchester area and $189,743 in the Boston area, compared with $135,430 for the statewide median.
Metro medians from Census ACS 2024 cover the whole metro area, including any part in a neighboring state. The metro area centered in Massachusetts is included because many of its residents live in New Hampshire; the share in the state is in parentheses. Rows are ordered by how many residents live in New Hampshire. Income needed: 20% down at 7.24%, the metro's median property tax and its main state's median homeowners insurance for homes with a mortgage (Census ACS 2024), under the 28% rule.
What makes owning in New Hampshire more expensive than most states
- Home prices: the median value of $458,800 is 27% above the U.S. median of $360,600.
- Property tax: about 1.46% of value a year ($559 a month on the median home).
- Insurance: owners with a mortgage paid a median $1,197 a year for homeowners insurance in 2024 (Census ACS). Premiums have risen in most states since then, and they vary a lot by home and ZIP code, so get quotes.
- Mortgage rate: each 1-point rise in rates adds roughly $253 a month on this loan.
31 states need at least 20% less income to buy their median home. States with a similar income requirement:
- Oregon $134,176
- New York $133,184
- Rhode Island $130,277
- Utah $140,843
- Connecticut $122,181
- Maryland $121,641
Frequently asked questions
How much do you need to make to buy a house in New Hampshire?
About $135,430 a year for the median home of $458,800 with 20% down at 7.24%. With 10% down it's about $156,204.
What is the property tax rate in New Hampshire?
The median New Hampshire homeowner pays $6,707 a year, about 1.46% of the median home value (Census ACS 2024). Rates vary by county and city.
Is it cheaper to rent or buy in New Hampshire?
Median rent is $1,558 a month, while owning the median home costs about $3,160 a month with 20% down, before maintenance. Renting affordably takes about $62,320 a year under the 30% rule.