New Hampshire’s housing market is showing signs of stabilization in urban and suburban areas after years of record-breaking growth, though rural counties continue to experience sharp price increases driven by remote workers and retirees moving to the state.
Statewide Overview
According to data from the New Hampshire Association of Realtors and the New Hampshire Fiscal Policy Institute, the median price for a single-family home reached $565,000 in June 2025—a staggering 79.4% increase from June 2019. By comparison, median household income in the state grew only 24.3% during the same period.
While prices historically peak in June, they remained elevated at $545,000 in July 2025. Since March 2024, the median cost for purchasing a single-family home has consistently remained at or above half a million dollars statewide.
The Rural Surge
Four counties are bucking the slowdown trend and continue to see rapid price appreciation:
- Grafton County
- Belknap County
- Carroll County
- Cheshire County
These rural areas have seen the fastest growth rates since the COVID-19 pandemic, a trend likely driven by remote work opportunities allowing employees to live farther from urban centers, combined with retirees relocating to the Granite State.
Affordability Crisis
Despite signs of stabilization in some markets, housing remains largely unaffordable for many New Hampshire families. Using the June 2025 statewide median sale price of $565,000, an average 30-year mortgage rate of 6.82%, the average property tax rate of $17.03 per $1,000, and a 5% down payment, a typical monthly mortgage payment comes to approximately $4,308.
The state’s population growth since 2017 has come entirely from in-migration, which has increased demand—particularly in rural areas with limited housing stock.
Remote Work’s Lasting Impact
The shift to remote work continues to reshape New Hampshire’s economy. While the southeastern counties (Rockingham and Hillsborough) still command the highest absolute prices, the growth rate has slowed as workers migrate to more affordable rural communities where their dollars stretch further.
Commercial real estate has also been affected, with office vacancies remaining elevated as companies maintain hybrid and remote work policies post-pandemic.
Market Outlook
Analysts expect the market to stabilize in 2025 as rising mortgage rates and near-record prices cool buyer demand. However, the persistent shortage of housing inventory across the state—particularly affordable entry-level homes—suggests prices will remain elevated even if the rapid appreciation of recent years moderates.
For prospective buyers, rural counties may offer relative affordability compared to the seacoast and southern tier, though competition in those markets has intensified as more out-of-state buyers discover the region.
Data sourced from the New Hampshire Association of Realtors, New Hampshire Fiscal Policy Institute, and NH Business Review.