As a real estate expert, I have seen firsthand how the cost of living in southeastern New Hampshire compares to other areas. In this article, I will provide an in-depth analysis of the cost of living in this region and how it stacks up against other areas.
The Cost of Living in Southeastern New Hampshire
Southeastern New Hampshire is a popular region for homebuyers due to its proximity to major cities like Boston and its beautiful natural surroundings. However, with its popularity comes a higher cost of living compared to other areas in the state. According to data from Numbeo, a website that compares cost of living between cities, the overall cost of living index for southeastern New Hampshire is 123. This means that it is 23% higher than the national average. This index takes into account factors such as housing, groceries, transportation, and utilities.Housing
is the biggest contributor to the high cost of living in southeastern New Hampshire.The housing index for this region is 163, which is significantly higher than the national average of 100. This means that housing costs in this region are 63% higher than the national average.
Groceries
and transportation also contribute to the high cost of living in this region. The grocery index for southeastern New Hampshire is 116, while the transportation index is 120. Both of these are higher than the national average, but not as significant as housing costs.Utilities
are the only factor that is slightly lower than the national average, with an index of 98. However, this does not make a significant impact on the overall cost of living in this region.How Does Southeastern New Hampshire Compare to Other Areas?
Now that we have established that the cost of living in southeastern New Hampshire is higher than the national average, let's take a look at how it compares to other areas in the state. The neighboring region of Southern New Hampshire has a cost of living index of 118, which is slightly lower than southeastern New Hampshire.This region includes cities like Manchester and Nashua, which are also popular for homebuyers.
Central New Hampshire
, which includes cities like Concord and Laconia, has a cost of living index of 111. This is significantly lower than southeastern New Hampshire, but still higher than the national average. The Lakes Region, which is known for its beautiful lakes and mountains, has a cost of living index of 108. This is the lowest among all regions in New Hampshire, but still higher than the national average. Finally, Northern New Hampshire, which includes cities like Berlin and Colebrook, has a cost of living index of 97. This is the lowest among all regions in the state and is below the national average.The Impact on Real Estate
The high cost of living in southeastern New Hampshire has a direct impact on the real estate market in this region. With housing costs being significantly higher than other areas in the state, it can be challenging for homebuyers to find affordable options. This also means that sellers can ask for higher prices for their homes, as the demand for housing in this region is high. This can make it difficult for first-time homebuyers or those on a tight budget to enter the market. However, the high cost of living also means that homeowners in this region can expect a higher return on their investment. As the demand for housing continues to rise, so do property values.This makes southeastern New Hampshire a desirable location for real estate investors.
In Conclusion
The cost of living in southeastern New Hampshire is significantly higher than the national average and other regions in the state. This is mainly due to the high housing costs in this region. However, this also means that homeowners can expect a higher return on their investment and real estate investors can find profitable opportunities. As a real estate expert, I always advise my clients to carefully consider the cost of living when looking to buy or sell a property in southeastern New Hampshire. It is important to factor in all expenses, not just the price of the home itself. Despite the high cost of living, southeastern New Hampshire remains a popular and desirable location for homebuyers.Its proximity to major cities and natural beauty make it a unique and attractive place to call home.
