Cost of Living in Durham, NH

An Overview of Cost of Living in Durham, NH

Are you thinking about relocating, but curious about the potential cost of living in Durham? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Durham stands at 134, making it 34% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

If you value affordability in your search for a new place to live, Durham may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Durham falls into this category, which may not align with your desire for an affordable place to call home.

Housing costs make up a big chunk of the cost of living in Durham, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 74.1% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Recurring goods and services expenses like haircuts, toothpaste, gym memberships and movie nights are a big part of your spending and make up 33% of the cost of living index. In Durham, these items will cost you 20.2% more than what most folks pay, making it a bit more expensive to live here.

Is Durham Affordable?

Is Durham an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Durham, the median home price is 102% higher than what most folks pay across the country, and monthly rent prices are 9.1% higher than the usual rates. Income levels in Durham come in at $61,845, which is 11.8% higher than the national average.

What Factors can Influence the Cost of Living in Durham?

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Durham, the groceries index is 2% higher than the national average.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Durham, healthcare costs are 13.2% higher than the national average.

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Durham, the transportation index is 9.9% higher than the national average.

Where is the Data From?

The Durham 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.