The answer? Well, it depends. If you’re considering your housing options in New Hampshire, you’re not alone. The decision between renting and buying isn’t straightforward—it hinges on your financial situation, lifestyle, and long-term goals.
🏠 The Cost of Buying in New Hampshire
As of early 2025, the median home price in New Hampshire is approximately $488,800. With a 5% down payment and an average mortgage rate of 6.7%, your monthly payment could be around $3,957, including property taxes .
However, this figure varies by region. For instance, in Coos County, the median home price is about $255,000, whereas in Rockingham County, it’s around $643,000 .
🏢 The Cost of Renting in New Hampshire
Renting offers flexibility, but it’s becoming increasingly expensive. The median rent for a two-bedroom apartment in New Hampshire was $1,833 in early 2024 . While this may seem more affordable than buying, it’s essential to consider the long-term financial implications.
🔄 Renting vs. Buying: What Makes More Sense for You?
- Renting provides flexibility and fewer upfront costs, making it suitable if you’re uncertain about your long-term plans or if you’re still saving for a down payment.
- Buying allows you to build equity over time. If you plan to stay in the area for several years, purchasing a home can be a wise investment.
📊 Tools to Help You Decide
To make an informed decision, consider using online calculators to compare renting and buying costs. Websites like Zillow and Redfin offer tools that can help you assess your options based on your financial situation and the local market.
Sources: NH Business Review, Zillow, Redfin and New Hampshire Fiscal Policy Institute.