The cost of purchasing a house in New Hampshire has surged more than 275 percent over the last quarter-century, reshaping the finances of families, employers, and entire communities. A typical single-family house that sold for about $137,000 in 1999 now sells for roughly $514,000. Wages haven’t kept up, leaving more Granite Staters priced out of ownership and straining renters as well. 

In this episode of New Hampshire Uncharted, host Gene Martin digs into what’s driving the crisis, and what can be done, with three people on the front lines: 

• Nick Taylor, Director, Housing Action NH 

• Sarah Wrightsman, Manager, Community Engagement & Education, New Hampshire Housing 

• Jessica Williams, Policy Analyst, New Hampshire Fiscal Policy Institute

The Numbers Behind the Housing Crisis 

Policy analyst Jess Williams lays out the scope of the challenge: “Over the past 25 years, the price of purchasing a median single-family house in New Hampshire has risen by about 275 percent.” A home that sold for $137,000 in 1999 now goes for over half a million dollars. With an average property tax rate and a 5 percent down payment, Williams notes that “a New Hampshire family purchasing a home back in 2024 would have had a monthly mortgage payment close to $4,000 per month… nearly half of their income.” 

Renters haven’t been spared either. From 2011 to 2024, the median monthly cost of a two-bedroom apartment climbed nearly 75 percent. Nearly half of renters are considered cost-burdened, paying more than 30 percent of their income on housing. 

Why We’re Short on Homes 

According to Sarah Wrightsman, the state is already behind by about 25,000 units and will need 60,000 more by 2030 and 90,000 by 2040. Years of underbuilding after the Great Recession of 2007-2009 left New Hampshire well short, and demographic changes mean demand is even higher. 

Still, Wrightsman says meeting the target is “definitely achievable,” requiring about a 36 percent increase in new permits. Breaking the numbers down town-by-town shows that, for many places, the need may be as little as one or two new homes per year. 

She also pushes back on a persistent myth: more homes don’t automatically mean higher school costs. In fact, research from New Hampshire Housing shows that 100 new apartments bring about 16 students, rather than an influx of 200 students that some might be concerned about, and most districts have the capacity to absorb the relatively small number of students without raising taxes. 

Policy Progress and What’s Next 

At the State House, housing dominated the agenda this past session, says Nick Taylor. Dozens of bills were introduced, and while funding was cut back for programs like the Affordable Housing Fund, lawmakers made important zoning changes. Updates to the Accessory Dwelling Unit (ADU) law now require cities and towns to allow both attached and detached ADUs, and another new law makes it easier to build housing where retail and office space already exist. 

But Taylor warns: “don’t mistake activity for achievement.” True progress, he says, will be measured when vacancy rates stabilize, homelessness declines, and starter homes become attainable again. 

Local Steps Forward 

Wrightsman also highlights the success of Housing Opportunity Planning (HOP) Grants, which gave small towns resources to update zoning and master plans. Communities from the North Country to the Seacoast used them to allow duplexes, tweak ADU rules, and open the door to more flexible housing options. As Wrightsman puts it: “If all these little communities take a little bite out of the apple, then together, collectively, we solve the housing crisis.” 

To request a full transcript, contact info@nhfpi.org. To watch key clips from this podcast, follow us on Instagram.