The 03038 zip code in Derry tops our ranking of the most affordable places to live in New Hampshire.
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Top 10 most affordable places to live in New Hampshire
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Derry 🥇 | 100.0 | $493,705 | $2,056 |
| 2 | Windham 🥈 | 96.7 | $789,656 | $2,160 |
| 3 | Raymond 🥉 | 92.6 | $480,207 | $2,160 |
| 4 | Merrimack | 89.1 | $529,465 | $2,525 |
| 5 | Nashua | 88.6 | $460,171 | $2,181 |
| 6 | Londonderry | 88.4 | $609,788 | $2,160 |
| 7 | Hudson | 88.2 | $534,305 | $2,160 |
| 8 | Goffstown | 85.0 | $508,749 | $2,160 |
| 9 | Bedford | 83.7 | $762,283 | $2,908 |
| 10 | Amherst | 79.7 | $654,059 | $2,160 |
What these affordable cities and towns have in common
The 10 zip codes we ranked share a common trait: a low cost of living relative to the New Hampshire median.
Median home values, rental costs, and property taxes generally sit below the state averages, while household incomes remain strong enough to keep home affordability ratios manageable. Below, we look at each market in detail.
1. Derry
Here's why the 03038 zip code in Derry is New Hampshire's most affordable place to live.
🔎 Key data about Derry
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100.0 | No. 1 | N/A |
| Median home value | $493,705[1] | No. 15 | -$37,138 |
| Home affordability ratio | 4.6 | No. 11 | -0.5 |
| Home value five-year change | 41.5%[2] | No. 6 | -3.7% |
| Home value one-year forecast | 0.1%[3] | No. 1 | -1.4% |
| Rental costs | $2,056[4] | No. 9 | -$104 |
| Rent affordability ratio | 1.90% | No. 2 | -0.2% |
| Median household income | $108,322[5] | No. 14 | $4,064 |
| Property taxes | $8,074[6] | No. 25 | $844 |
| Energy costs | $0.18 kWh[7] | No. 29 | $0.00 |
Derry's 03038 zip code is the cheapest place to live in New Hampshire, leading the 34 markets we evaluated.
The median home value is $493,705, making it the 15th-cheapest housing market in the state. Forecasts project a 0.1% change in home values in the next year. Rent in the zip code averages $2,056 per month, which is the 2nd cheapest amount in New Hampshire.
The median property tax for homeowners in Derry is $8,074 per household, the No. 25 ranked market in New Hampshire.
Residents pay $0.18 per kWh of electricity, which ranks No. 29 among New Hampshire markets.
📈 Thinking about buying in New Hampshire? See our complete housing market outlook for the data, trends, and timing insights New Hampshire buyers need to know.
2. Windham
The 03087 zip code is the 2nd-cheapest place to live in New Hampshire.
🔎 Key data about Windham
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.7 | No. 2 | N/A |
| Median home value | $789,656[1] | No. 32 | $258,814 |
| Home affordability ratio | 4.2 | No. 2 | -0.9 |
| Home value five-year change | 38.8%[2] | No. 1 | -6.4% |
| Home value one-year forecast | 0.1%[3] | No. 1 | -1.4% |
| Rental costs | $2,160[4] | No. 12 | $0 |
| Rent affordability ratio | 2.07% | No. 8 | 0.0% |
| Median household income | $189,583[5] | No. 1 | $85,325 |
| Property taxes | $10,001[6] | No. 32 | $2,771 |
| Energy costs | $0.18 kWh[7] | No. 6 | $0.00 |
Windham's 03087 zip code has a median home value of $789,656, which is the 32nd-cheapest housing market in New Hampshire. You can rent for an average of $2,160 per month. That's the 12th-cheapest price in the state.
The average household income in the zip code is $189,583, which ranks 1st-highest in the state.
Homeowners in Windham pay a median property tax of $10,001 per year, making it the 32nd-most affordable market in New Hampshire.
Windham ranks No. 6 among New Hampshire energy markets. You'll pay $0.18 per kWh of electricity.
3. Raymond
The 3rd-least-expensive place to live in New Hampshire is Raymond's 03077 zip code.
🔎 Key data about Raymond
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 92.6 | No. 3 | N/A |
| Median home value | $480,207[1] | No. 14 | -$50,635 |
| Home affordability ratio | 4.6 | No. 12 | -0.5 |
| Home value five-year change | 42.9%[2] | No. 11 | -2.3% |
| Home value one-year forecast | 0.1%[3] | No. 1 | -1.4% |
| Rental costs | $2,160[4] | No. 12 | $0 |
| Rent affordability ratio | 2.07% | No. 8 | 0.0% |
| Median household income | $104,597[5] | No. 18 | $339 |
| Property taxes | $6,146[6] | No. 6 | -$1,084 |
| Energy costs | $0.18 kWh[7] | No. 29 | $0.00 |
The No. 14 cheapest housing market in New Hampshire is Raymond's 03077 zip code, with a median home value of $480,207. Rents in the market average $2,160 per month, making it the 12th-most affordable rental market in the state.
The median property tax for households in Raymond is $6,146, which makes it the 6th-cheapest place in New Hampshire. Raymond ranks No. 29 among New Hampshire markets by energy costs. Residents pay $0.18 per kWh of electricity.
4. Merrimack
The 03054 zip code in Merrimack comes in at No. 4 on our list of the cheapest places to live in New Hampshire.
🔎 Key data about Merrimack
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 89.1 | No. 4 | N/A |
| Median home value | $529,465[1] | No. 20 | -$1,378 |
| Home affordability ratio | 4.2 | No. 1 | -0.9 |
| Home value five-year change | 47.6%[2] | No. 23 | 2.3% |
| Home value one-year forecast | 2.1%[3] | No. 17 | 0.6% |
| Rental costs | $2,525[4] | No. 31 | $365 |
| Rent affordability ratio | 1.98% | No. 4 | -0.1% |
| Median household income | $127,303[5] | No. 7 | $23,045 |
| Property taxes | $7,348[6] | No. 21 | $118 |
| Energy costs | $0.18 kWh[7] | No. 6 | $0.00 |
The No. 20 cheapest housing market in New Hampshire is Merrimack's 03054 zip code, where the median home value is $529,465. Renters here pay an average of $2,525 per month.
When it comes to energy costs, Merrimack ranks 6th among New Hampshire markets. Residents pay $0.18 per kWh of electricity.
The median property tax for households in the zip code is $7,348, which makes it the 21st-cheapest market in New Hampshire.
5. Nashua
The 03063 zip code in Nashua ranks No. 5 among New Hampshire's most affordable places to live.
🔎 Key data about Nashua
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 88.6 | No. 5 | N/A |
| Median home value | $460,171[1] | No. 10 | -$70,671 |
| Home affordability ratio | 4.3 | No. 5 | -0.8 |
| Home value five-year change | 46.8%[2] | No. 21 | 1.6% |
| Home value one-year forecast | 2.1%[3] | No. 17 | 0.6% |
| Rental costs | $2,181[4] | No. 25 | $21 |
| Rent affordability ratio | 2.03% | No. 5 | 0.0% |
| Median household income | $107,630[5] | No. 15 | $3,372 |
| Property taxes | $6,739[6] | No. 14 | -$491 |
| Energy costs | $0.18 kWh[7] | No. 6 | $0.00 |
Nashua's 03063 zip code has a median home value of $460,171, the 10th-cheapest housing market in the state. Forecasts project a 2.1% change in home values in the next year.
The median property tax per household in Nashua is $6,739. It's the 14th-cheapest market by tax rate in New Hampshire.
6. Londonderry
The No. 6 most affordable city in New Hampshire is the 03053 zip code.
🔎 Key data about Londonderry
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 88.4 | No. 6 | N/A |
| Median home value | $609,788[1] | No. 25 | $78,945 |
| Home affordability ratio | 4.5 | No. 9 | -0.5 |
| Home value five-year change | 44.7%[2] | No. 14 | -0.6% |
| Home value one-year forecast | 0.1%[3] | No. 1 | -1.4% |
| Rental costs | $2,160[4] | No. 12 | $0 |
| Rent affordability ratio | 2.07% | No. 8 | 0.0% |
| Median household income | $134,038[5] | No. 6 | $29,780 |
| Property taxes | $8,096[6] | No. 26 | $866 |
| Energy costs | $0.18 kWh[7] | No. 6 | $0.00 |
The back half of our top 10 kicks off with Londonderry's 03053 zip code, which has the 25th-cheapest home values in New Hampshire. The median home value is $609,788. Rents average $2,160 per month, making it the 12th-most affordable rental market in the state.
Residents pay $0.18 per kWh of electricity. It's the 6th-cheapest energy market.
7. Hudson
Hudson's 03051 zip code is the 7th-cheapest place to live in New Hampshire.
🔎 Key data about Hudson
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 88.2 | No. 7 | N/A |
| Median home value | $534,305[1] | No. 21 | $3,463 |
| Home affordability ratio | 4.3 | No. 6 | -0.8 |
| Home value five-year change | 39.4%[2] | No. 4 | -5.8% |
| Home value one-year forecast | 2.0%[3] | No. 15 | 0.5% |
| Rental costs | $2,160[4] | No. 12 | $0 |
| Rent affordability ratio | 2.07% | No. 8 | 0.0% |
| Median household income | $124,213[5] | No. 8 | $19,955 |
| Property taxes | $6,636[6] | No. 12 | -$594 |
| Energy costs | $0.18 kWh[7] | No. 6 | $0.00 |
You'll find the 21st-cheapest home values in New Hampshire in Hudson's 03051 zip code. The median value: $534,305. Renters in Hudson pay an average of $2,160 per month.
Homeowners in Hudson pay a median property tax of $6,636 per year, which is New Hampshire's 12th-most affordable market.
The average household income is $124,213, which ranks 8th-highest in the state.
8. Goffstown
The 8th-least-expensive place to live in New Hampshire is Goffstown's 03045 zip code.
🔎 Key data about Goffstown
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 85.0 | No. 8 | N/A |
| Median home value | $508,749[1] | No. 17 | -$22,094 |
| Home affordability ratio | 4.3 | No. 3 | -0.8 |
| Home value five-year change | 45.4%[2] | No. 17 | 0.2% |
| Home value one-year forecast | 2.2%[3] | No. 25 | 0.7% |
| Rental costs | $2,160[4] | No. 12 | $0 |
| Rent affordability ratio | 2.07% | No. 8 | 0.0% |
| Median household income | $119,205[5] | No. 11 | $14,947 |
| Property taxes | $7,186[6] | No. 20 | -$44 |
| Energy costs | $0.18 kWh[7] | No. 6 | $0.00 |
The 17th-cheapest housing market in New Hampshire is Goffstown's 03045 zip code, with a median home value of $508,749. Renters pay an average of $2,160 per month, the No. 12 rental market in the state.
The median property tax for households in Goffstown is $7,186, which makes it the 20th-cheapest place in New Hampshire. The average household income of $119,205 ranks 11th.
9. Bedford
Bedford's 03110 zip code is one of New Hampshire's most affordable towns, sneaking into the top ten of our rankings.
🔎 Key data about Bedford
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 83.7 | No. 9 | N/A |
| Median home value | $762,283[1] | No. 31 | $231,441 |
| Home affordability ratio | 4.6 | No. 10 | -0.5 |
| Home value five-year change | 46.4%[2] | No. 20 | 1.2% |
| Home value one-year forecast | 2.2%[3] | No. 25 | 0.7% |
| Rental costs | $2,908[4] | No. 34 | $749 |
| Rent affordability ratio | 1.74% | No. 1 | -0.3% |
| Median household income | $167,418[5] | No. 2 | $63,160 |
| Property taxes | $9,803[6] | No. 31 | $2,573 |
| Energy costs | $0.18 kWh[7] | No. 6 | $0.00 |
The 31st-cheapest housing market in New Hampshire is Bedford's 03110 zip code, where the median home value is $762,283. Renters pay an average of $2,908 per month. It's the state's 34th-cheapest rental market.
The median property tax for households within the zip code is $9,803, which makes it the 31st-cheapest property tax rate in New Hampshire.
10. Amherst
The final spot on our list of the most affordable places to live in New Hampshire goes to the 03031 zip code in Amherst.
🔎 Key data about Amherst
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 79.7 | No. 10 | N/A |
| Median home value | $654,059[1] | No. 28 | $123,216 |
| Home affordability ratio | 4.3 | No. 4 | -0.8 |
| Home value five-year change | 47.6%[2] | No. 24 | 2.4% |
| Home value one-year forecast | 2.2%[3] | No. 25 | 0.7% |
| Rental costs | $2,160[4] | No. 12 | $0 |
| Rent affordability ratio | 2.07% | No. 8 | 0.0% |
| Median household income | $153,125[5] | No. 4 | $48,867 |
| Property taxes | $9,768[6] | No. 30 | $2,538 |
| Energy costs | $0.18 kWh[7] | No. 6 | $0.00 |
Rounding out our top 10 is Amherst's 03031 zip code, with the 28th-cheapest home values in New Hampshire.
The median home value is $654,059. Rent in the market costs $2,160 per month on average.
The median property tax for households in Amherst is $9,768, which is the 30th-cheapest property tax rate in the state.
Amherst ranks No. 6 among New Hampshire markets by energy costs, with households paying $0.18 per kWh of electricity.
What questions about these cities should I ask local agents?
Once you've found a town you're interested in, you'll want to ask a local agent for details our rankings can't capture. Start with these four questions:
- What neighborhoods inside this zip code have the best resale value?
- What's the rental market like right now?
- Are there local property tax exemptions or homestead programs you'd qualify for?
- What are the most common surprises buyers run into here?
🏡 Need a local agent? We can connect you with an expert who knows the market.
Frequently asked questions about the least expensive places to live in New Hampshire
Based on Clever's Affordability Score, the 03038 zip code in Derry is the cheapest place to live in New Hampshire.
The median home value is $493,705, and the median household income is $108,322, giving Derry a home affordability ratio of 4.6, meaning a typical home costs about that many times the median annual income.
See our Affordability Score methodology and the full ranking of the 10 cheapest places to live in New Hampshire.
The median home value in New Hampshire is $530,843.
See the rankings above for how individual cities compare to these state-wide figures.
New Hampshire is currently a neutral market, according to Clever's Market Heat Index.
The index reflects the balance between buyer demand and seller supply, which affects how much negotiating power buyers and sellers have in any given market.
Markets also vary by city, county, and neighborhood. It's always good to check with a local real estate agent to understand the dynamics of a given local market.
The median amount homeowners pay in property taxes in New Hampshire is $7,230 per year.
Property taxes are a key part of the overall cost of living, and they vary significantly by location. The per-city tax figures in the rankings above show how each of the 10 cheapest places stacks up against the New Hampshire median.
📍 The 10 cheapest places to live in your region
How we ranked the most affordable cities and towns in New Hampshire
We evaluated 34 zip codes in New Hampshire with a population over 10,000 on home values, rental costs, energy rates, property taxes, and five other affordability indicators. We then assigned each market an Affordability Score based on its weighted and combined rankings.
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in New Hampshire, the higher our score on this component. We assign a weight of 13.0% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 28.0% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 10.0% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 8.0% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 7.0% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 5.0% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 17.0% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the New Hampshire average, the higher our score on this component. We assign a weight of 8.0% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the New Hampshire average, the higher our score on this component. We assign a weight of 4.0% to energy costs.
✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a state by zip code. Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
Why you should trust us
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Our team is committed to making home purchasing more transparent by educating buyers and sellers through guides like this one. Our writers, editors, and industry-leading researchers strive to provide readers with the most up-to-date, accurate, and useful information.
Our research has been featured in The New York Times, Business Insider, Inman, Housing Wire, and many more publications.
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