U.S. house gross sales skyrocketed through the COVID-19 pandemic – hitting a 15-year excessive of 6.1 million in 2021. The spike in demand, coupled with declining stock, have put upward stress on housing costs. Renters haven’t been spared, as housing has turn out to be one of many key drivers of surging U.S. inflation.
In response to the Financial Coverage Institute, a nonprofit suppose tank, a household of 4 – two adults and two kids – can count on to pay an estimated $15,031 on housing in 2022. This quantity varies throughout the nation, nonetheless.
In New Hampshire, a household of 4 will spend a mean of $15,267 on housing per 12 months, the twelfth highest quantity amongst states, in accordance with the EPI’s Household Funds Calculator. This quantity displays each housing and utilities prices for a modest two-bedroom rental.
Housing prices are partially pushed by what residents can afford, and states with larger rental prices additionally typically have larger than common household incomes, and vice-versa. New Hampshire is not any exception. Simply as housing prices are larger than common in New Hampshire, so, too, are incomes. The standard household within the state earns $97,001 a 12 months, in comparison with the nationwide common of $80,069.
Housing value figures on this story are 2022 estimates from the EPI and household revenue figures are five-year estimates from the U.S. Census Bureau’s 2020 American Group Survey.
| Rank | State | Est. avg. housing value, household of 4, 2022 ($) | Median household revenue ($) | Homeownership price (%) |
|---|---|---|---|---|
| 1 | California | 23,734 | 89,798 | 55.3 |
| 2 | Hawaii | 23,335 | 97,813 | 60.3 |
| 3 | Massachusetts | 22,294 | 106,526 | 62.5 |
| 4 | New York | 20,092 | 87,270 | 54.1 |
| 5 | New Jersey | 19,811 | 104,804 | 64.0 |
| 6 | Maryland | 17,840 | 105,790 | 67.1 |
| 7 | Washington | 17,824 | 92,422 | 63.3 |
| 8 | Colorado | 17,157 | 92,752 | 66.2 |
| 9 | Connecticut | 17,127 | 102,061 | 66.1 |
| 10 | Virginia | 15,870 | 93,284 | 66.7 |
| 11 | Oregon | 15,607 | 80,630 | 62.8 |
| 12 | New Hampshire | 15,267 | 97,001 | 71.2 |
| 13 | Florida | 15,232 | 69,670 | 66.2 |
| 14 | Alaska | 14,566 | 92,648 | 64.8 |
| 15 | Rhode Island | 14,502 | 89,330 | 61.6 |
| 16 | Vermont | 14,321 | 83,023 | 71.3 |
| 17 | Delaware | 14,037 | 84,825 | 71.4 |
| 18 | Arizona | 13,875 | 73,456 | 65.3 |
| 19 | Illinois | 13,692 | 86,251 | 66.3 |
| 20 | Nevada | 13,543 | 74,077 | 57.1 |
| 21 | Minnesota | 13,486 | 92,692 | 71.9 |
| 22 | Texas | 13,475 | 76,073 | 62.3 |
| 23 | Maine | 13,104 | 76,192 | 72.9 |
| 24 | Utah | 12,508 | 84,590 | 70.5 |
| 25 | Pennsylvania | 12,412 | 80,996 | 69.0 |
| 26 | Georgia | 12,152 | 74,127 | 64.0 |
| 27 | Michigan | 11,467 | 75,470 | 71.7 |
| 28 | North Carolina | 11,360 | 70,978 | 65.7 |
| 29 | South Carolina | 11,096 | 68,813 | 70.1 |
| 30 | Louisiana | 11,046 | 65,427 | 66.6 |
| 31 | Montana | 10,972 | 72,773 | 68.5 |
| 32 | Wisconsin | 10,970 | 80,844 | 67.1 |
| 33 | Tennessee | 10,906 | 68,793 | 66.5 |
| 34 | Idaho | 10,791 | 70,885 | 70.8 |
| 35 | New Mexico | 10,784 | 62,611 | 68.0 |
| 36 | Kansas | 10,740 | 77,620 | 66.2 |
| 37 | Nebraska | 10,551 | 80,125 | 66.2 |
| 38 | Wyoming | 10,423 | 81,290 | 71.0 |
| 39 | Missouri | 10,344 | 72,834 | 67.1 |
| 40 | Indiana | 10,331 | 73,265 | 69.5 |
| 41 | Ohio | 10,324 | 74,391 | 66.3 |
| 42 | North Dakota | 10,236 | 86,798 | 62.5 |
| 43 | Oklahoma | 10,059 | 67,511 | 66.1 |
| 44 | Iowa | 9,802 | 79,186 | 71.2 |
| 45 | Alabama | 9,784 | 66,772 | 69.2 |
| 46 | Kentucky | 9,687 | 65,893 | 67.6 |
| 47 | South Dakota | 9,670 | 77,042 | 68.0 |
| 48 | Mississippi | 9,546 | 58,923 | 68.8 |
| 49 | West Virginia | 9,133 | 61,707 | 73.7 |
| 50 | Arkansas | 8,993 | 62,067 | 65.8 |