new hampshire apartments / housing for rent "nashua" - craigslist (2024)

FAQs

Why is rent so high in New Hampshire? ›

IT IS ABOUT FUNDAMENTALLY THE QUALITY OF LIFE IN NEW HAMPSHIRE. BEN FROST WITH NEW HAMPSHIRE HOUSING SAYS THERE'S A LOT OF REASONS WHY RENT IS HIGH. BUT NUMBER ONE IS HOW MANY PLACES TO LIVE ARE AVAILABLE. THERE IS SIMPLY NOT ENOUGH HOUSING FOR PEOPLE TO RENT IN NEW HAMPSHIRE.

Most personal finance experts would recommend paying no more than 30 percent of gross (before tax) monthly income for rent. Another target is to spend no more than 50 percent of net income (after taxes) on rent, utilities and all other monthly living expenses.

The lack of supply and high demand is driving costs up. The median cost of a home on the market in New Hampshire is $460,000.

There are currently 4,762 homes for sale in New Hampshire. The median list price in New Hampshire is $566,300 and the average price per square foot is $281.

In New Hampshire, there is no state law that caps how much a landlord can increase rent. Landlords must provide a 30-day written notice for rent increases if the lease is month-to-month.

New Hampshire rentals average $800 for a studio rental to $4,000 for a 4-bedroom rental. The median price of all currently available listings is $2,393, or roughly $2 per square feet. For the apartment units and housing in June 2024, median rents have risen substantially over the last year.

If you are being evicted for not paying rent, your landlord must serve you with a Demand for Rent. The demand tells you how much rent you owe, and cannot ask for more rent than you actually owe. The demand must be served personally (handed to you) or left at your home before or at the same time as the notice to quit.

High Cost of Living: Despite its lack of sales and income tax, New Hampshire has a relatively high cost of living compared to other states in the region. Housing prices, healthcare expenses, and utility costs can be expensive, particularly in more affluent areas.

What town has the cheapest property taxes in New Hampshire? ›

When combining all local, county, and state property taxes, these towns have the lowest property tax rates in New Hampshire (as of January 1, 2023): Windsor ($3.39) New Castle ($4.48) Moultonborough ($4.78)

According to the 2023 New Hampshire Statewide Housing Needs Assessment, housing in the Granite State currently falls short of needs by an estimated 23,500 housing units. By 2040, New Hampshire will need nearly 90,000 units to meet the state's housing demand.

The required credit scores for mortgages in New Hampshire differ based on the type of loan. Conventional loans demand a score of 620, while government-backed loans are more lenient. However, a score below 500 makes mortgage approval difficult.

Data analysed by Mojo Mortgages reveals that the average deposit cost in the south east has grown from 17 per cent of the total mortgage cost to 24 per cent. This means that first-time buyers are having to put down deposits of £50,000, compared to the average of £26,000 in 2021.

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.

Hawaii ranked as the state with the highest average rent, according to doxo. In a separate 2023 doxo report, Hawaii was also determined to be the most expensive U.S. state based on the average cost of household bills.

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.