The 10 Cheapest Places To Live In New Hampshire For 2022


We used data and science to determine which places in New Hampshire go easy on your wallet.

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There’s a reason New Hampshire is one of the best places for retirees, this New England state has some of the most affordable places to call home.

With New Hampshire’s life expectancy on the rise, HomeSnacks thought we would create the ultimate guide for all retirees and anyone else wishing to live in New Hampshire on a budget. So, we set out to determine the top ten most affordable places to live in the Granite State for 2022.

How did we determine the most affordable place in New Hampshire? We took a look at the US Census and the cost of living data for the Beehive State. We were especially interested in home and rental prices. We also looked at safety, education, and amenities in the 25 cities with more than 5,000 residents.

We determined that New Hampshire has affordable retirement communities in Suncook, hip millennial cities like Manchester, and family oriented places like Portsmouth. More importantly, we determined that when you choose one of New Hampshire’s most affordable places to call home, you free up money on your cost of living; thus, leaving more money for the fun things to do and see in New Hampshire. Like, a Saturday tee time at Mystic Meadows in Laconia or a family staycation at Wallis Sands State Beach in Rye.

So, want to know where you can get the most bang for your buck in New Hampshire? Keep reading.

The 10 Most Affordable Places To Live In New Hampshire

  1. Newport
  2. Rochester
  3. Berlin
  4. Franklin
  5. Concord
  6. Keene
  7. Somersworth
  8. Londonderry
  9. Claremont
  10. Laconia

It’s simple economics, folks. When you choose to live in one of New Hampshire’s cheapest places, you’re choosing to live where you won’t have general sales tax or personal income tax. You’re choosing to live where your New Hampshire dollar will go the furthest.

So, what’s the most affordable place to live in New Hampshire for 2022? The most affordable place in New Hampshire is Somersworth.

To see how your favorite place compared, take a look at the list below or head to the bottom.

And if you already knew these places were cheap, check out some more reading about New Hampshire and the cheapest places in the country:

The 10 Cheapest Places To Live In New Hampshire For 2022

We’ll kick off our tour of the most affordable places to live in New Hampshire with Newport, a small town an hour outside of Concord. Homes in Newport go for a median price of $147,500, the third cheapest in the state. Even more importantly, Newport residents spend the second smallest percentage of their on homes statewide. Newport is also in the top ten for income to rent ratio, with a median rent of $1,055. As for keeping yourself occupied on a budget, Mt. Sunapee State Park is just a short drive away and has all the hiking, boating, fishing, and alpine skiing you could want.

Overall SnackAbility

6
/10

Population: 5,530
Rank Last Year: 2 (Up 1)
Home Price To Income Ratio: 2.2x (2nd most affordable)
Income To Rent Ratio: 62.7x (13th cheapest)
More On Newport: Real Estate | Crime Rate | Cost Of Living

Newport, NH

We’re going to take a very short drive west from Somersworth to arrive at our second most affordable city in New Hampshire, Rochester. If you decide to move to Rochester, you’ll have no trouble getting friends to visit thanks to all the concerts and shows put on at the Rochester Opera House. Homes in Rochester go for about $186,600, the fifth lowest price in New Hampshire. Additionally, Rochester’s residents pay the third smallest portion of their income on homes statewide. That’s all the good news; the bad news is that Rochester was also named the most dangerous city and overall worst place to live in New Hampshire.

Overall SnackAbility

6
/10

Population: 31,305
Rank Last Year: 4 (Up 2)
Home Price To Income Ratio: 2.8x (3rd most affordable)
Income To Rent Ratio: 62.4x (2cheapest)
More On Rochester: Real Estate | Crime Rate | Cost Of Living

Rochester, NH

You don’t need to book a flight to Germany to get a sweet deal in Berlin. It might help to know some French though, because, as a city near Quebec, around 65% of Berlin’s population speaks a variant of New England French. Berlin’s the type of place you’ll want to settle down in for the long haul, because it’s where you’ll find the cheapest homes and, more importantly, the best home price to income ratio in the state. Add to that the fact that Berlin is one of the best places for families in New Hampshire, and you’ve got a recipe for a successful long-term stay. On the downside, Berlin is the least economical place to rent on this list. But we promise that once you see the stunning views from Jericho Mountain, your financial anxieties will be far from your mind.

Overall SnackAbility

4
/10

Population: 10,025
Rank Last Year: 5 (Up 2)
Home Price To Income Ratio: 2.2x (most affordable)
Income To Rent Ratio: 58.1x (25th cheapest)
More On Berlin: Real Estate | Crime Rate | Cost Of Living

Berlin, NH

Source: Public domain

Franklin ranks as the fourth least expensive place to call home in the Granite State thanks to strong affordabiliy numbers across the board. Franklin’s got some of the cheapest homes for sale you’ll find in New Hampshire, with a median price tag of $188,700. If you’re not ready to settle down here just yet, renting in Franklin costs about $889/month. Renting or buying, Franklin has excellent housing to income ratios. Not to mention that it’s one of the best cities for singles in New Hampshire thanks to great date spots like Tarbin Gardens. Looking for love has never been so affordable!

Franklin is about a half hour north of Concord.

Overall SnackAbility

5
/10

Population: 8,695
Rank Last Year: 3 (Down 1)
Home Price To Income Ratio: 3.3x (9th most affordable)
Income To Rent Ratio: 65.2x (9th cheapest)
More On Franklin: Real Estate | Crime Rate | Cost Of Living

Franklin, NH

Concord is the capital city of the U.S. state of New Hampshire and the county seat of Merrimack County. As of the 2010 census, its population was 42,695.

Overall SnackAbility

6
/10

Population: 43,503
Rank Last Year: 14 (Up 9)
Home Price To Income Ratio: 3.4x (10th most affordable)
Income To Rent Ratio: 63.4x (15th cheapest)
More On Concord: Real Estate | Crime Rate | Cost Of Living

Concord, NH

Keene is a city in Cheshire County, New Hampshire, United States. The population was 23,409 at the 2010 census. It is the seat of Cheshire County.

Overall SnackAbility

8
/10

Population: 22,823
Rank Last Year: 13 (Up 7)
Home Price To Income Ratio: 3.2x (8th most affordable)
Income To Rent Ratio: 56.4x (12th cheapest)
More On Keene: Real Estate | Crime Rate | Cost Of Living

Keene, NH

Coming in as the seventh cheapest place to live in New Hampshire is Somersworth, a small city a half hour north of Portsmouth. We gave Somersworth an 8/10 on our overall SnackAbility score, with an emphasis on solid schools, a strong market for jobs and housing, and being one of the most diverse cities in New Hampshire. Oh, and affordability of course. Somersworth has the eighth least expensive homes statewide, with a median price tag of $211,400. The median income in Somersworth is $67,209, giving the city the seventh best home price to income ratio in New Hampshire. Not to mention that if you go fishing at Willand Pond, you can cut down on your food and entertainment budget at the same time.

Overall SnackAbility

8
/10

Population: 12,027
Rank Last Year: 1 (Down 6)
Home Price To Income Ratio: 3.1x (7th most affordable)
Income To Rent Ratio: 58.3x (14th cheapest)
More On Somersworth: Real Estate | Crime Rate | Cost Of Living

Somersworth, NH

Londonderry is a town in western Rockingham County, New Hampshire, United States. The town is bordered on the north by the city of Manchester and on the east by the town of Derry. The population was 24,129 at the 2010 census. Londonderry is known for its apple orchards and is home to the headquarters of Stonyfield Farm and partial home to Manchester-Boston Regional Airport.

Overall SnackAbility

6
/10

Population: 12,053
Rank Last Year: 12 (Up 4)
Home Price To Income Ratio: 3.1x (6th most affordable)
Income To Rent Ratio: 72.3x (17th cheapest)
More On Londonderry: Real Estate | Crime Rate | Cost Of Living

Londonderry, NH

Claremont’s story is very similar to that of Berlin; super affordable homes, with less impressive prices on rent. Claremont’s median home price of $133,400 is the second lowest in New Hampshire and residents spend the fourth smallest proportion of their income on homes statewide. Plus there are tons of parks around for every type of activity — skateboarding, snowshoeing, skiing, snowboarding, tubing, ice-skating. You name it, Claremont’s got a park for it.

Overall SnackAbility

5
/10

Population: 12,969
Rank Last Year: 8 (Down 1)
Home Price To Income Ratio: 2.8x (4th most affordable)
Income To Rent Ratio: 47.9x (4th cheapest)
More On Claremont: Real Estate | Crime Rate | Cost Of Living

Claremont, NH

Source: Public domain

Next up on our list of super inexpensive spots in New Hampshire is Laconia. Don’t let the city’s affordability fool you into thinking Laconia’s boring though; whether you’re just kicking it at Weirs Beach or zipping from tree to tree at Monkey Trunks Park, there’s something for every speed here. Laconia has the tenth cheapest homes in New Hampshire, with a median price of $193,700. Folks buying a home in Laconia enjoy the 11th best home price to income ratio, while those renting get the 17th best deal in New Hampshire.

Overall SnackAbility

7
/10

Population: 16,584
Rank Last Year: 9 (Down 1)
Home Price To Income Ratio: 3.5x (11th most affordable)
Income To Rent Ratio: 56.3x (11th cheapest)
More On Laconia: Real Estate | Crime Rate | Cost Of Living

Laconia, NH

Cheapest Places To Live In New Hampshire FAQs

What county in New Hampshire has the lowest cost of living?

The county in New Hampshire with the lowest cost of living is Hillsborough County. The average living wage in Hillsborough County is $100,802 according to MIT data. Hillsborough County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to New Hampshire as a whole. Childcare costs $20,260 a year in Hillsborough County for two children compared to the New Hampshire average of $19,454. Housing costs, defined as a blend of the average rent and average mortgage payment, are $16,423 per year in Hillsborough County compared to $15,387 on average in New Hampshire.

What is the cost of living in New Hampshire?

The cost of living in New Hampshire is 10.0% higher than the US average. According to MIT, the required living wage for a family of four with two working parents in New Hampshire is $98,702 vs the national average for a family of four with two working parents of $89,744. The median income of a New Hampshire household is $77,923.

What is the cheapest housing market in New Hampshire?

The cheapest housing market in New Hampshire is Berlin. The average home value in Berlin is $85,100, the lowest in the state. The average home value in New Hampshire is $272,300, almost 3.2 times higher than Berlin.

Methodology: How We Determined The Most Affordable Places To Live In The Granite State For 2022

Map Of The Cheapest Places To Live In New Hampshire
The two most important things to think about when it comes to being able to afford if you can live comes down to:

  1. How much do money do I make?
  2. How much do I have spend to live there?

You need to understand your costs in the context of how much money you make.

For example, if the median household earns $100,000 and spends $40,000 on housing it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.

With that example in mind, we derived several statistics from the latest Census American Community Survey 2016-2020 around incomes and costs. They are:

  • Median Home Price / Median Income (lower is better)
  • Median Income / Median Rent (Higher is better)
  • Median Home Price

We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).

You can then compare these metrics in each of the places in New Hampshire to figure out which is the least expensive.

What you are left with is a “Cost of Living Index” by taking the average rank of each of these metrics for each city.

So we used that cost of living index in order to rank all of the 25 places in New Hampshire that have more than 5,000 people.

The place with the lowest cost of living in New Hampshire according to the data is Newport. You can download the data here.

Summary: There You Have It Mr. Or Mrs. New Hampshire Cheapskate

If you’re looking at the cost of living numbers in New Hampshire, this is an accurate list of the most affordable places to live in New Hampshire for 2022.

Here’s a look at the most expensive cities in New Hampshire according to the data:

  1. Hanover
  2. Portsmouth
  3. Newmarket

For more New Hampshire reading, check out:

The Most Affordable Places To Live In New Hampshire

Rank City CheapScore Population Home/Income Ratio Income/Rent Ratio
1 Newport 3.67 5,530 2.2x 62.7x
2 Rochester 5.0 31,305 2.8x 62.4x
3 Berlin 5.33 10,025 2.2x 58.1x
4 Franklin 6.0 8,695 3.3x 65.2x
5 Concord 8.33 43,503 3.4x 63.4x
6 Keene 9.0 22,823 3.2x 56.4x
7 Somersworth 9.0 12,027 3.1x 58.3x
8 Londonderry 9.67 12,053 3.1x 72.3x
9 Claremont 10.0 12,969 2.8x 47.9x
10 Laconia 11.67 16,584 3.5x 56.3x
11 South Hooksett 12.67 5,911 3.7x 73.4x
12 Derry 13.0 22,891 3.5x 59.0x
13 Hooksett 13.0 5,517 3.0x 46.3x
14 Dover 13.0 31,922 3.7x 63.2x
15 Lebanon 13.33 13,718 3.6x 59.3x
16 Exeter 14.33 9,349 3.5x 54.1x
17 Milford 15.67 8,644 3.7x 51.0x
18 Hudson 16.67 7,230 3.7x 55.8x
19 Manchester 17.67 112,441 3.9x 53.5x
20 Hampton 18.0 10,002 4.8x 59.7x
21 Nashua 18.0 89,052 3.8x 56.4x
22 Durham 18.0 12,016 6.0x 59.8x
23 Newmarket 19.67 5,737 3.9x 52.3x
24 Portsmouth 20.0 21,418 5.8x 58.2x
25 Hanover 24.33 8,744 6.3x 48.2x

How Is The Area In ?

Editor’s Note: We updated this article for 2022. This is our ninth time ranking the cheapest places to live in New Hampshire.

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.