D
19%
Overall NAT. AVG.
20%
Goods & Services NAT. AVG.
26%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Concord New Hampshire National
Cost of living119118100
Goods & Services120120100
Groceries102102100
Health care113113100
Housing126123100
Transportation110110100
Utilities131131100

An Overview of Cost of Living in Concord, NH

The cost of living in Concord affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Concord is 119, which is 19% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Housing costs are a very significant part of the Concord cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 25.6% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Recurring essentials like haircuts, toothpaste, and entertainment, from movies to gym sessions, can really add up in your budget and make up 33% of the cost of living index. In Concord, you you will have to spend 20.2% more than average when compared to the typical prices for these items, making it a more expensive place to live.

Is Concord Affordable?

Is Concord affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Concord, for instance, where the median home price falls 29.6% higher than the national average, and monthly rent rates are 16.3% higher than usual. Additionally, median income levels contribute to the equation, with Concord flaunting a median household income of $70,004, 26.5% higher than the national norm.

What Factors can Influence the Cost of Living in Concord?

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Concord, the housing index stands at 25.6% higher than the national average.

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Concord, the utilities index registers 31% higher than the national average.

Where is the Data From?

The Concord cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Concord is 1% higher than the New Hampshire average
  • The cost of living in Concord is 19% higher than the national average
  • Concord housing is 26% higher than the national average
  • New Hampshire general sales tax is 100% lower than the national average
  • New Hampshire state income tax is 54% higher than the national average

Most Affordable Places to Live in and Around Concord

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Compare Concord, NH Cost of Living

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$96,114$8,010$2,243$2,884
      Renters$43,974$3,665$1,026$1,319
      The affordability of the housing market in Concord, NH as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Concord homeowners, the median income is $96,114. This indicates that a monthly maximum of $2,243 should be spent by homeowners on all housing related costs. Renters have a median income of $43,974. This indicates that renters would have a maximum of $1,026 for their rent related monthly costs.

      New Hampshire Sales Tax

      State General Sales Tax With Max Surtax
      New Hampshire 0% 0%

      New Hampshire Income Tax

      State Income Tax (Low) Income Tax (High)
      New Hampshire 4% 4%

      Goods & Services

      Item Concord National avg. Difference
      Haircut $26.58$24.269.6%
      Beauty Salon $67.97$45.5649.2%
      Toothpaste $3.73$3.700.8%
      Shampoo $1.25$1.282.1%
      Movie $13.07$12.137.7%
      Bowling $25.44$18.0041.4%

      Groceries

      Item Concord National avg. Difference
      Ground Beef $5.47$5.846.3%
      Fried Chicken $1.44$1.578.5%
      Milk $4.75$4.671.6%
      Potatoes $5.01$4.931.5%
      Pizza $11.66$12.093.6%
      Beer $9.82$10.415.7%

      Health Care

      Item Concord National avg. Difference
      Optometrist $115.00$125.688.5%
      Doctor $164.00$135.7820.8%
      Dentist $136.17$113.2920.2%
      Ibuprofen $11.01$10.653.4%
      Lipitor $483.35$468.603.1%

      Housing

      Item Concord National avg. Difference
      Home Price $239,300.00$184,700.0029.6%
      Avg. Mortgage Payment $2,281.44$2,346.692.8%
      Apartment Rent $1,104.00$949.0016.3%

      Transportation

      Item Concord National avg. Difference
      Gasoline $3.33$3.463.9%
      Tire Balancing $86.00$59.9243.5%

      Utilities

      Item Concord National avg. Difference
      All Electricity $294.40$193.9951.8%
      Phone $186.72$192.252.9%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Pittsfield, NH1,4641087.5%
      Suncook, NH4,97511312.6%
      Pinardville, NH4,76411515.4%
      Warner, NH63811717.0%
      Henniker, NH2,56611717.0%
      Concord, NH43,50311919.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Peachtree Corners, GA43,51612120.8%
      Prescott, AZ43,46312322.8%
      Moorhead, MN43,409981.8%
      Channelview, TX43,378946.0%
      Salem, MA43,35013939.2%
      Concord, NH43,50311919.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.