Buying a Home in New Hampshire: What You Need to Know
If you're considering buying a home in New Hampshire, understanding the true cost of homeownership is essential. Beyond your mortgage payment, New Hampshire homeowners face property taxes, insurance costs, and closing fees that vary significantly from the national average. This calculator uses New Hampshire-specific data to give you accurate monthly payment estimates.
New Hampshire Property Taxes
New Hampshire has an effective property tax rate of 1.41%, ranking #6 out of 50 states (where #1 is the highest). On a median-priced home of $483,000, you'd pay approximately $6,810 per year in property taxes, or about $568/month.
New Hampshire is among the states with the highest property taxes in the nation. This is often because property taxes fund local schools and services. Be sure to factor this into your budget when determining how much home you can afford.
New Hampshire Homeowners Insurance
The average annual homeowners insurance premium in New Hampshire is $1,039 for $300,000 in dwelling coverage, or about $87/month.
New Hampshire enjoys relatively low insurance costs compared to many other states. This is often due to lower risk of major natural disasters. However, rates vary by location, so get quotes for your specific property.
New Hampshire Closing Costs
Closing costs in New Hampshire average 1.34% of the home's purchase price. On a $483,000 home, that's approximately $6,472. Closing costs typically include:
- Loan origination fees
- Appraisal and inspection fees
- Title insurance and search
- Recording fees
- Prepaid property taxes and insurance
New Hampshire Housing Market
The median home price in New Hampshire is $483,000. This is close to the national median of approximately $410,000, offering a balanced housing market with options for various budgets.
More New Hampshire Mortgage Tools
Use these additional calculators to plan your New Hampshire home purchase: