A recent housing affordability study has ranked New Hampshire among the least affordable states to buy a home in the nation, with a total affordability score of just 42.2 and a grade of C-, placing it well below the national average.
According to the data, the median listing price of a home in New Hampshire is $572,784, one of the highest in the country. Despite a median household income of $94,929—notably higher than the national median—buyers are still struggling to keep pace with soaring property values and a persistently tight market.
One of the key metrics used to determine affordability is the REALTORS® Affordability Score, which in New Hampshire stands at 0.57. This figure suggests that many households in the Granite State are priced out of the current market, as affordability scores closer to 1.0 or above indicate a better balance between income and home prices.
Adding to the difficulty is New Hampshire’s low rate of new construction. The state accounted for just 0.3% of all 2024 building permits nationwide, despite having 0.4% of the U.S. population. This underbuilding trend has contributed to housing shortages in many communities, pushing prices even higher and reducing options for first-time buyers.
Interestingly, homes in New Hampshire carry a new construction premium of 38.7%, meaning that newly built homes are priced nearly 40% higher than existing homes. This premium further limits options for families looking to enter the market or relocate within the state.
The combination of high home prices, sluggish construction, and limited inventory has created a challenging environment for prospective buyers in New Hampshire, even those with above-average incomes. As policymakers and housing advocates search for solutions, increasing the pace of residential construction and expanding access to affordable housing options will be critical steps in restoring balance to the market.
For now, would-be homeowners in New Hampshire may need to brace for continued competition and rising costs in one of the most desirable—but increasingly unaffordable—housing markets in the country.