Manchester, NH Cost of Living
New Hampshire’s most populated city, Manchester, has rapidly grown in popularity in recent years. A city with a rich history dating back to the early settlers, this old mill town has blossomed into a developed and urban hot spot. This up and coming modern city has built its unique history right into it - preserving the old mill buildings and showcasing the city’s past in multiple museums such as the Manchester Millyard Museum.
Manchester, like any large city in any state, you can expect the cost of living to be a bit more than the national average. If you’re thinking of making the move to the city, keep reading to ensure you’re making an informed and the right decision for you. Below you will find a breakdown of the average cost of living for Manchester, NH.
Living in Manchester, NH is like living in any city, the closer you are to the main city center, the more expensive it’s going to be. With that said, these numbers are averages of the entire city as whole - meaning you may find properties for a higher amount or lower, depending on where your search leads you. The median home price in Manchester is currently $239,500 which is actually lower than the state’s median home price of $272,000.
The median household income for residents of Manchester, NH is $54,899 while the national household income lies just a little more at $60,336. However, if you’re an out-of-stater, New Hampshire doesn’t have an income tax which means your paychecks are putting more in your pocket.
New Hampshire as an entire state has great healthcare - the state ranks at #13 out of the 50 states for quality of healthcare. So when considering the cost of living in Manchester, healthcare being slightly higher than the national average seems to not phase most when they know they’re getting top notch care. With multiple hospitals and health offices in and around the Manchester area, it’s a very accessible amenity.
The cool thing about living in the heart of Manchester is the walkability this city offers. When living or working on Elm Street, Manchester’s most active downtown area, there are a number of amenities within walking distance. For example, this strip offers multiple restaurants, bars, museums, and shopping. Walking, biking, and skating are great alternatives to driving and saves you in gas costs. However, if walking isn’t an option, gas prices in Manchester, NH currently average around $2.15 per gallon.
To sum up, the cost of living in Manchester, NH is a little above the national average, however living in New Hampshire gives you other financial benefits, such as no income tax, as stated earlier, and no sales tax. So while the rest of the country is paying a certain percentage over sticker price, New Hampshire residents pay exactly what is listed on the tag. So it’s easy to make up for a little higher expenditures on some things when you’re paying less on others.
Manchester is a vibrant art filled community. If you’re interested in learning more about this area and what it has to offer, click here.
If you’re ready to make the big move to Manchester, get in touch with a Verani agent today, your trusted advisor in Manchester and New Hampshire. Or visit us online to see more Manchester NH real estate listings and properties in your dream location. Happy house hunting!
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