Out-of-state migration, racial disparities, and affordability gaps challenge homeownership access in New Hampshire
A new report by the New Hampshire Center for Justice and Equity (NHCJE) paints a sobering picture of housing affordability and access across the Granite State. Titled “Challenges to Homeownership in New Hampshire: Understanding the Unequal Access to the American Dream,” the report details the growing chasm between income levels and the cost of owning a home—especially for younger residents and people of color.
The findings, discussed in a recent Let’s Move to New Hampshire podcast interview with NHCJE President and CEO Anthony Poore, highlight that while New Hampshire’s median household income stands at approximately $96,000—well above the national average of $80,610—it still falls significantly short of the income needed to purchase a median-priced home in the state.
“In June, the median sales price hit a record high of $540,000,” said Poore. “To afford that, a household would need an annual income greater than $175,000. That means there is no population group in New Hampshire right now that can afford a median-priced home based on median income alone.”
Migration and Demographic Shifts Reshape the Market
Fueled by COVID-era remote work flexibility and New Hampshire’s relatively lower tax burden, the state has seen a significant increase in inbound migration. Approximately 60% of New Hampshire’s residents were born out of state, with many newcomers arriving from neighboring New England states.
“We’re the second fastest-growing population in New England,” Poore noted. “Nearly 79% of those moving into the state are of working age, which is a critical factor in workforce development.”
At the same time, communities of color in New Hampshire have more than doubled over the past decade, adding important diversity to the state’s population. However, disparities in homeownership remain stark.
Disparities Run Deep
According to the report, 71% of New Hampshire households own their homes. But when disaggregated by race, significant gaps emerge: 72% of white households are homeowners, compared to just 33% of Black households and 43% of Latino households.
“These disparities are rooted in historical and systemic barriers—redlining, restrictive zoning, credit discrimination, and predatory lending,” Poore explained. “On top of that, the explosion of second-home purchases and short-term rentals like Airbnbs have drastically reduced housing stock in places like Conway and the Lakes Region.”
With rental prices in cities like Manchester averaging $2,000–$2,200 per month, the cost of renting now rivals or even surpasses mortgage payments—further complicating the path to homeownership, especially for young professionals and first-time buyers.
Younger and Older Generations Feel the Pinch
Poore emphasized that the housing crisis impacts all age groups. For those under 35, just 41% own their homes, while homeownership rates rise to 74–78% among those 45 and older. However, older homeowners are also staying put due to a lack of affordable downsizing options, which worsens the inventory shortage.
“We’re seeing gridlock. Seniors aren’t moving because downsizing means higher costs and higher interest rates. That prevents turnover and puts additional pressure on the market,” said Poore.
Policy Gaps and Local Innovation
Despite the state’s urgent need for more than 90,000 new housing units by 2040, Poore warns of lack of recent investment in affordable housing programs. “There was no funding in the latest biennium budget for the Affordable Housing Fund, New Hampshire Housing Champions Program or the InvestNH program,” he said.
Still, local organizations are stepping up. Entities like NH Housing and AHEAD in Littleton are offering innovative down payment assistance programs—some up to $30,000—thanks to partnerships with philanthropic groups like the Neil and Louise Tillotson Fund.
Poore also praised Maine’s efforts to address zoning barriers and expand housing access, pointing to it as a regional model New Hampshire could learn from.
Looking Forward
With both rental and homeownership options becoming out of reach for many, Poore called for a “cradle-to-retirement” approach to housing policy.
“We need to think about housing for all stages of life—starter apartments, homes for young families, and accessible housing for seniors. That’s how we build communities where people can live, work, and grow old with dignity.”
As for the future of prices? Don’t expect a crash.
“We didn’t get into this overnight, and we won’t get out of it overnight,” Poore said. “It will take patience, persistence, and partnerships across the public and private sectors.”
The full report is available online at NHCJE Report.