Get The Facts On The Cost Of Living In NH Before Relocating

If you've ever thought about relocating for work, you know the cost of living is a significant factor in deciding whether to move and where to go. Seeing how your new home stacks up in terms of expense to where you live now is only part of the process. You need to examine how the cost of living compares to other high-growth, high-employment areas, too. Communities where jobs are plentiful, and companies are looking to hire are usually desirable places to live and can, in turn, have a higher cost of living. The goal is to find the perfect location where the quality of life is high, but the cost to live there is not.

Relocate to a Vacationers' Paradise

New Hampshire has it all, all within a day's drive. There are mountains for skiing and hiking, wilderness for camping, miles of snowmobile and ATV trails. New Hampshire's cities have tons of tax-free shopping, theaters, and live concert venues. The small but lively Seacoast where you can hit the beach by day and dine at some of New England's best restaurants at night. It's no wonder millions of people flock to the state each year. Locals will tell you one of the top reasons for living in New Hampshire is the high quality of life and the beautiful landscape all around them.

Beyond the beauty and things to do, New Hampshire regularly ranks in the top 10 for best places to live, best places to raise a child, and best places to do business. Excellent schools, low taxes, and low unemployment are all contributing factors. As an added bonus, multiple interstate highways mean it's easy to get around the state. Popular destinations out-of-state like Boston, the Green Mountains in Vermont, or the beautiful Maine coast.

How the Cost of Living Stacks Up

New Hampshire has a cost of living that ranks slightly higher than the national average. However, compared to larger metro areas like Boston or New York, New Hampshire is relatively affordable. 

When looking at the cost of living in a new state, it's common to look at the cost of housing. While there are some communities, like along the Seacoast, which has seen a boom in housing prices, the median home price in other parts of the state is much closer to the national average of $219,700. For example, the median home price in Keene is $225,000, and the median home price in Concord is $236,700. Other factors that go into the cost of living, such as healthcare and transportation, are lower in New Hampshire than the national average.

Another big draw for people who relocate to New Hampshire is the state's lack of an income tax or sales tax. You will often see businesses close to bordering states advertising shopping in "tax-free New Hampshire," and the state's economy has certainly benefited from this status. Most online cost of living calculators do not factor in taxes. Keep taxes in mind when comparing the cost of living in New Hampshire to other states with a high tax burden, like Illinois, Massachusetts, or New York. When looking at salaries for jobs in New Hampshire, remember only federal taxes will be taken out and that no state income tax means more of your paycheck stays in your pocket.

New Hampshire is also known as the "Live Free or Die" state which means elected officials are sometimes wary of passing legislation seen as impeding on personal freedoms. For instance, New Hampshire does not require adults to wear a seatbelt when driving or a helmet when operating a motorcycle. It also does not require automobile liability coverage or charge a fee for being uninsured. New Hampshire also has some of the lowest car insurance rates in the country, as an added bonus.

Beyond Cost of Living

Moving to a state with a strong economy and low unemployment guarantees you and your spouse plenty of opportunity in your careers. New Hampshire is also home to many excellent colleges and universities, as well as a well-respected community college system for when you are ready to further your career. At Hitchiner Manufacturing, we encourage our employees to seek job training and additional education. We see this move as a win-win, our workers get advanced education, and we benefit from the knowledge they gain.

There will always be non-financial factors to any decision to move. Whether it's looking for good schools for your kids, a state with a low poverty level, a place where you can get outdoors and enjoy the fresh air, or a place where you can settle in a nice neighborhood, New Hampshire has all of that and more.

High-tech careers are located in New Hampshire at Hitchiner Manufacturing. To learn more about life in New Hampshire, click here.