F
26%
Overall NAT. AVG.
20%
Goods & Services NAT. AVG.
47%
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 Nashua New Hampshire National
Cost of living126118100
Goods & Services120120100
Groceries102102100
Health care113113100
Housing147123100
Transportation110110100
Utilities131131100

An Overview of Cost of Living in Nashua, NH

Are you thinking about relocating, but curious about the potential cost of living in Nashua? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Nashua stands at 126, making it 26% 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 affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Nashua is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Nashua falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs are a major factor in the Nashua cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 47.4% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

The things you purchase regularly, like clothes, haircuts, movie tickets and gym memberships, can make a big dent in your budget and make up 33% of the cost of living index. Unfortunately in Nashua, these items will cost you 20.2% more than what's considered the norm, making it a more expensive place to call home.

What Do Locals Say About the Cost of Living in Nashua?

Nobody knows their city better than the people who actually live there. So, we asked 12 local residents how they would rate the cost of living in Nashua and this is how they responded. 17% of people said that the cost of living was affordable, with prices decreasing, while 83% of people said that the cost of living was very expensive and prices continue to rise.

Is Nashua Affordable?

Is Nashua affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Nashua, the median home price is 51.5% higher than the national average and monthly rent prices are 37.9% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Nashua boasting a median household income of $73,785, 33.4% higher than the national average.

What Factors can Influence the Cost of Living in Nashua?

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Nashua, healthcare costs are 13.2% higher than the national average.

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Nashua, the transportation index is 9.9% higher than the national average.

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Nashua, the baseline sales tax rate begins at 0%, and income tax rates start at 5%.

Where is the Data From?

The Nashua 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 Nashua is 6% higher than the New Hampshire average
  • The cost of living in Nashua is 26% higher than the national average
  • Nashua housing is 47% 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 Nashua

See all the best places to live around Nashua

Compare Nashua, NH Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$98,689$8,224$2,303$2,961
      Renters$50,025$4,169$1,167$1,501
      The affordability of the housing market in Nashua, 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 Nashua homeowners, the median income is $98,689. This indicates that a monthly maximum of $2,303 should be spent by homeowners on all housing related costs. Renters have a median income of $50,025. This indicates that renters would have a maximum of $1,167 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 Nashua 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 Nashua 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 Nashua 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 Nashua National avg. Difference
      Home Price $279,800.00$184,700.0051.5%
      Avg. Mortgage Payment $2,281.44$2,346.692.8%
      Apartment Rent $1,309.00$949.0037.9%

      Transportation

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

      Utilities

      Item Nashua 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.
      East Merrimack, NH4,78611717.1%
      Townsend, MA1,27611817.9%
      Shirley, MA1,71611918.7%
      Hudson, NH7,23012020.2%
      Derry, NH22,89112120.8%
      Nashua, NH89,05212625.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Chino, CA89,17014847.7%
      Norwalk, CT88,75514544.6%
      Newmarket, ON88,702n/a 
      Mount Pleasant, SC89,41014039.7%
      Miami Beach, FL89,43913736.7%
      Nashua, NH89,05212625.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.