Housing Costs Limit Opportunity For Working Residents

The Challenge: Home prices and rents have climbed sharply across New Hampshire, leaving many working residents, young people, and first-time buyers unable to find housing they can afford. What do New Hampshire residents think? Contributors described the rapid rise in housing costs and the strain it places on residents at nearly every income level. A realtor in the Monadnock region wrote: “No normal person with a normal job can afford housing. Even somebody making $20 an hour wouldn’t even qualify for most apartments.” Another full-time worker added: “Working full time with a second job, couponing, not shopping, traveling or eating out, and I still cannot get close to being able to afford $2000+ per month on my own. You can’t even find a studio apartment for less than $1500.” Even higher earners described difficulty: “Even with a salary of $115k and $150k in savings for a first home, I’m struggling to find something that’s not a condominium with a $600 a month HOA fee.” Others raised concerns about the kinds of housing being built. As one contributor put it: “We need affordable housing to attract more people to live and work here. No more seasonal high priced homes that people who don’t have to work can afford to buy and rent.” Across responses, contributors pointed to a widening gap between wages and housing costs that is reshaping who can afford to live in the state.