New Hampshire

High number of NH households lack emergency savings – Valley News

Published

2 months ago

January 11, 2026

High number of NH households lack emergency savings – Valley News

A broken furnace, medical bill, or car repair could quickly become a financial crisis if it were to happen in any one of over 120,000 New Hampshire households with very little savings. An analysis recently published by the Urban Institute found that nearly one in four New Hampshire households lacked at least $2,000 in non-retirement savings in 2022, representing a basic financial cushion for weathering emergencies. According to the analysis, about 23% of New Hampshire households did not have non-retirement savings, such as money in a checking or savings account, totaling more than $2,000 in 2022. That figure rose to 30% for Granite Staters in rural northern and western New Hampshire, 32% for Manchester residents, and 31% for Granite Staters of color statewide.

The Urban Institute published this analysis in November 2025 using the latest consistently available data for each type of financial well-being measured. A previous version of the analysis, published in 2022, found about 26 percent of New Hampshire households lacked $2,000 in emergency savings in 2019, although the $2,000 threshold was not adjusted for inflation between those two years. The researchers also measured overall wealth, income relative to key expenses, and certain other metrics.

Unpaid debt

Researchers at the Urban Institute also found that about 16% of Granite Staters had some form of debt that was at least 60 days past due in 2023. Two percent of all residents specifically had delinquent student loan debts.

Housing expenses

About 87% of all households with less than $50,000 in annual income, which was about one in four New Hampshire households in 2023, paid more than 30% of their incomes for their housing costs, such as rent or mortgage payments, utilities, property taxes, and insurance costs. For Granite Staters of color, about 96% of households with these lower incomes were cost-burdened, or paying at least 30% of income, by housing costs.

This percentage varied for different areas within the state as well. While about 78% of all residents with lower incomes in Coos, Grafton and Sullivan counties combined were cost-burdened by housing, about 95% of Manchester residents and 91% of Strafford County and northern Rockingham County residents were cost-burdened in this manner.

Utility costs

About one in five New Hampshire households paid more than 10% of household income solely on utility costs, including electricity, water, gas, and heating fuels. While the lowest percentage of households facing these utility costs were near Nashua and a few other relatively urban parts of the state, about 46% of households in Coos, Grafton, and Sullivan counties, and 41% in eastern central New Hampshire encompassing Carroll and Belknap counties, paid more than 10% in utility costs.

Access to emergency savings varies throughout New Hampshire

Savings can be difficult to accumulate for a variety of reasons, and the primary factors include income and expenses. Both lower incomes and higher expenses make saving more difficult, while their opposites enable more opportunities to set money aside for a time of need. Some of the variations in savings across New Hampshire could be rooted in both factors.

The approximately 23% of Granite State households without at least $2,000 in savings during 2022 represents about 129,600 households of the estimated 557,200 in New Hampshire that year. In Coos, Grafton, and Sullivan Counties, which include the two counties (Coos and Sullivan) with the highest poverty rates in the state, about 30% of households lacked that level of savings. Coos County also had a median household income that was only slightly more than half of Rockingham County in southeastern New Hampshire. The cost of buying a house has also increased fastest in rural parts of New Hampshire, although the overall cost is still lower than in southeastern New Hampshire.

In Manchester, where 32% of households did not have at least $2,000 in emergency savings (the highest rate of the measured areas in the state) in 2022, the cost of renting the median two-bedroom apartment increased 31% from 2020 to 2024 to $1,838 per month. Median household income, at about $77,000, was below the statewide median of about $95,600 during the 2019 to 2023 period. Increasing costs, particularly regional housing costs, likely made saving very difficult for households in Manchester and elsewhere, particularly the families that are more likely to see incomes fall short of expenses than ten years ago.

Wealth is a critical factor and difficult to measure

Most common measures of financial well-being are based on income. Income is often measured through surveys and tax returns, and income from employment is also reported by businesses and other employers. As a result, income is more commonly measured than wealth. Income measures the money coming into a household in a given time period, while wealth measures the assets owned by the members of a household.

Wealth provides a form of economic security that promotes resilience, including the ability to weather a job loss or an unexpected expense, such as a car repair or medical costs from an illness. Even a higher income does not provide the security of having a substantial amount of money in a bank account, as that income could change, or new costs could appear, relatively quickly. Wealth provides a financial cushion that can be critical for individuals and families in times of need.

Local data difficult to access

While national measures provide insights into wealth and wealth inequality, which has risen substantially over the last six decades, local data are much harder to collect than data about the income of residents in states and counties. Researchers at the Urban Institute used publicly-available data and collaborated with a major credit bureau, employing anonymized data, to get a sample of about 10 million people nationwide. They also utilized models to understand the likely conditions facing people in less-populated areas and in smaller population groups when the sample sizes themselves were too small to create reliable estimates.

These data and methods allowed the Urban Institute researchers to estimate the percentage of households that had less than $2,000 in their bank accounts, stocks, mutual funds, and other non-retirement assets. However, the data were not granular enough to allow for consistent town- or county-level analyses in New Hampshire. The data were organized by regions of the state (and country) with a total of 100,000 people or more. While data for Manchester can be separated from the rest of the state with this strategy, every other city or town is combined with at least one other community in these data.

Different than other surveys

This methodology is notably different from a commonly-cited national-level survey conducted by the U.S. Federal Reserve Board’s Survey of Household Economics and Decisionmaking, which asks U.S. residents nationwide a series of questions. These questions include asking about the methods the individual would use to pay for an unexpected $400 expense.

The latest survey indicates that 37% of U.S. adults would not have paid for an unexpected $400 expense with cash, savings, or a credit card to be paid off by the end of the month. While that indicates more than one in three U.S. adults do not have the savings to easily cover this expense, 13% said they would be unable to pay it by any means; others indicated they would carry a balance on a credit card, borrow money from a friend, family member, bank, or payday lender, or sell something to help pay for the expense. That suggests many adults would not spend their bank account down to zero, perhaps to preserve some wealth cushion for other unexpected expenses or to avoid fees.

While these survey data offer key insights and annual updates allowing for helpful comparisons over time, the Urban Institute’s methods seek to measure the actual balances in household accounts. The Urban Institute’s data also provide insights into the financial resilience of New Hampshire residents specifically.

Financial situations fragile for many Granite State families

Without $2,000 in savings, a Granite Stater could quickly spend their liquid assets to pay for an unexpected car repair, needed fixes for a house or an appliance, the deductible on their health insurance after an injury or illness but before coverage begins, losing a job, or other factors that could effectively require immediate, unforeseen costs. That would potentially lead to debt that could be difficult to pay off, unpaid bills, or forgone health or housing needs.

Housing, utility, health care, and child care costs have increased across New Hampshire. These rising costs have made building emergency savings increasingly difficult. With nearly one in four New Hampshire households in this fragile situation, small changes in physical or financial well-being, expenses facing families, public policy, or the economy overall could have big impacts on many Granite Staters.

The New Hampshire Fiscal Policy Institute is sharing these articles with the partners in The Granite State News Collaborative. NHFPI is an independent nonprofit organization that explores, develops and promotes public policies that foster economic opportunity and prosperity for all New Hampshire residents. For more information visit nhfpi.org. These articles are being shared by partners in The Granite State News Collaborative. For more information visit collaborativenh.org.

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New Hampshire

Cher’s son heads to court over allegations he broke into a New Hampshire home

Published

9 hours ago

March 11, 2026

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Cher’s son heads to court over allegations he broke into a New Hampshire home

The son of Cher is scheduled to be in court Wednesday for a hearing over allegations he broke into a New Hampshire home earlier this month.

It was the second arrest in a matter of days for Elijah Allman, 49, of Malibu, California, who was detained Feb. 27 after allegedly acting belligerently at a prestigious prep school in New Hampshire. It was unclear if Allman had any connection to either St. Paul’s School or the home in Windham, New Hampshire.

Allman remains in the Rockingham County Department of Corrections in what is called preventive detention, Superintendent Jonathan Banville said.

Allman, whose father was the late singer Gregg Allman, faces two counts of criminal mischief, one count of burglary and a count of breach of bail for breaking into the home on March 1. Police said in a report that Allman did not have permission to be at the home and forcibly entered it .

In the incident at the prep school, Allman was charged with four misdemeanors: two counts of simple assault, criminal trespass and criminal threatening. Allman was also charged with a violation of disorderly conduct, which is illegal in the state but not considered a crime.

At about 7 p.m. that day, Concord police responded to reports that Allman was disturbing people in the dining hall of St. Paul’s School. After charging Allman, police said he was released on bail as his case works through the court system.

Allman did not respond to an email requesting comment, and a phone number for him was not working. It was unclear from the court records if Allman has an attorney.

In December 2023, Cher filed a petition to become a temporary conservator overseeing her son’s money, saying Allman struggles with mental health issues and addiction have left him unable to manage his assets and potentially put his life in danger.

The petition from the singer and actress said Elijah Allman is entitled to regular payments from a trust fund. But “given his ongoing mental health and substance abuse issues,” she is “concerned that any funds distributed to Elijah will be immediately spent on drugs, leaving Elijah with no assets to provide for himself and putting Elijah’s life at risk,” the petition says.

A few weeks later, Los Angeles Superior Court Judge Jessica Uzcategui denied the request, saying she was not convinced that a conservatorship was urgently needed. Allman was in the courtroom with his his attorneys, who acknowledged his previous struggles but argued that he is in a good place now, attending meetings, getting treatment and reconciling with his previously estranged wife.

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New Hampshire

Senate panel endorses reporting exemption for players on New Hampshire Fisher Cats

Published

21 hours ago

March 10, 2026

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Senate panel endorses reporting exemption for players on New Hampshire Fisher Cats

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New Hampshire

Possible 2028 Democratic White House contenders weigh in on Iran with New Hampshire voters

Published

1 day ago

March 10, 2026

Press Room

Possible 2028 Democratic White House contenders weigh in on Iran with New Hampshire voters

As the U.S.-Israeli war with Iran overtakes the foreign policy debate in Washington, two Democratic governors with potential 2028 presidential aspirations — Gavin Newsom and Andy Beshear — recently traveled to New Hampshire, introducing themselves to the state’s famously engaged voters. The two weighed in on the war and both criticized and questioned President Trump’s strategy and endgame.

“If a president is going to take a country into war, and risk the lives of American troops and Americans in the region, he has to have a real justification and not one that seems to change every five to 10 hours,” Beshear told CBS News after a Democratic fundraiser in Keene.

“This President seems to use force before ever trying diplomacy, and he has a duty to sell it to the American people and to address Congress with it,” Beshear continued. “He hasn’t done any of that. In fact, it appears there isn’t even a plan for what success looks like. He’s gone from regime change to strategic objectives and now is talking about unconditional surrender, which isn’t realistic where he is.”

Beshear also said he thought that Congress should have reined in Mr. Trump’s war powers.

“He is trying to ignore Congress. He’s trying to even ignore the American people,” Beshear said.

He went on to note that the president’s State of the Union address took place “three — four days before he launched this attack,” and Mr. Trump “didn’t even have the respect to tell the American people the threat that he thought Iran posed to us.”

Last week, both the House and the Senate failed to pass resolutions to limit Mr. Trump’s war powers and stop him from taking further military action against Iran without congressional support.

Democratic Kentucky Gov. Andy Beshear speaks with voters in Keene, New Hampshire, on March 7, 2026.

Anne Bryson

For Newsom, the war with Iran constitutes part of a broader criticism of Israeli Prime Minister Benjamin Netanyahu.

At an event last Tuesday in Los Angeles, Newsom had compared Israel to an “apartheid state.” Later, in New Hampshire, he sought to clarify his comment.

“I was specifically referring to a Tom Friedman [New York Times] column last week, where Tom used that word of apartheid as it relates to the direction Bibi is going, particularly on the annexation of the West Bank,” Newsom explained during a book tour event Thursday night in Portsmouth. “I’m very angry, with what he is doing and why he’s doing it, what he’s going to ultimately try to do to the Supreme Court there, what he’s trying to do to save his own political career.”

Friedman wrote that at the same time that the U.S. and Israel are prosecuting a war in Iran, within Israel, Netanyahu’s government has undertaken efforts to annex the West Bank, driving Palestinians from their homes; fire the attorney general who is leading the prosecution against Netanyahu for corruption; and block the government’s attempt to establish a commission to examine the failures that led up to the Oct. 7, 2023, massacre of Jews by Hamas.

CBS News has reached out to the Israeli Embassy in Washington, D.C., for comment.

On Iran, Newsom said, “I’m very angry about this war, with all due respect, you know, not because I’m angry the supreme leader is dead. Quite the contrary. I’m not naive about the last 37 years of his reign. Forty-seven years since ’79 — the revolution,” Newsom said. “But I’m also mindful that you have a president who still is inarticulate and incapable of giving us the rationale of why? Why now? What’s the endgame?”

California Democratic Gov. Gavin Newsom speaks with political commentator Jack Cocchiarella at an event in Portsmouth, New Hampshire, on March 5, 2026.

Anne Bryson

Many attendees at Newsom’s book event said that the situation in Iran is a top-of-mind issue for them, too. Some said they’re “horrified” by what is happening.

29-year-old Alicia Marr told CBS News she decided to attend Newsom’s event because of his social media response to the war with Iran.

“There was one spot left, and I decided to pick it up, and it was due to his response to the war, that it is just unacceptable, and I would agree with that,” Marr said.

While some voters like Marr are eager to hear about where potential candidates stand on foreign policy, many at Newsom’s event said they care most about how potential candidates plan to address domestic issues.

“I’m more focused on getting the middle class back on track and fighting the oligarchy, and I’m less invested in international issues,” said Anita Alden, who also attended Newsom’s event,

“I wouldn’t call myself America first, but we have so many problems at home that are my priority,” she told CBS News.

Former Vice President Kamala Harris, who may also be weighing another White House bid, told Fox 2 Detroit last week that she “unequivocally opposes” the Trump administration’s military action in Iran and urged Congress to take action.

“If we want to stop Donald Trump with this random decision that he has arrived at, then Congress must act, and Congress must act immediately. The American people do not want our sons and daughters to go into this unauthorized war of choice,” Harris said.

Mr. Trump has lashed out against Democrats who have pushed back on his Iran strategy, calling them “losers” last week and arguing that they would criticize any decision he made on Iran.

“If I did it, it’s no good. If I didn’t do it, they would have said the opposite, that you should have done this,” the president said.