What’s the average mortgage payment in New Hampshire?

According to data collected from Redfin and Rocket Mortgage, the average monthly mortgage payment in New Hampshire is around $1,943 before property taxes and insurance. While New Hampshire is one of the few states that doesn’t have a state income tax, higher home prices and property taxes contribute to relatively elevated monthly housing costs.

Demand has trended downward in recent years, with fewer homes selling above list price, particularly in southern counties within commuting distance of Boston.

Overview of the New Hampshire housing market

The median sale price of a home in New Hampshire is roughly $496,400, according to Redfin’s statewide housing data. Home prices have trended upward due to limited inventory and sustained demand, especially in the state’s more competitive cities like Hudson and East Merrimack. Redfin reports that fewer homes in New Hampshire sold above the list price when compared with last year.

Here’s a snapshot of recent median sale prices from Redfin across several New Hampshire cities:

Factors that influence mortgage payments in New Hampshire

Your monthly payment includes principal, interest, taxes, and insurance (PITI). Tools like the Rocket Mortgage^® mortgage calculator can help estimate how different variables affect your total monthly cost.

Home price and down payment

New Hampshire’s higher-than-average home prices mean buyers often take on larger loan balances. Assuming a 20% down payment and 6.5% mortgage rate, a median New Hampshire home will incur monthly costs of about $2,510 before factoring taxes and insurance.

Buyers who put down less than 20% will also have to factor in the cost of private mortgage insurance (PMI), increasing monthly housing costs.

Mortgage rate

New Hampshire mortgage rates vary depending on several factors, including:

• Credit score and credit history
• Debt-to-income ratio (DTI)
• Loan type
• Down payment amount
• Home type and location
• Current market conditions

Loan term

Most home buyers choose a 30-year or 15-year mortgage. A 30-year mortgage spreads payments out over time, resulting in lower monthly costs, while a 15-year mortgage carries higher payments but less total interest over the life of the loan.

Property taxes and insurance

New Hampshire has one of the highest property tax rates in the country, averaging about 1.77%, according to Rocket Mortgage. Property taxes can add a significant amount to monthly housing expenses, especially in higher-priced counties.

Homeowners insurance in New Hampshire averages about $124 per month, reflecting lower exposure to extreme weather risks compared to many other states.

How do mortgage payments in New Hampshire compare to others in the region?

New Hampshire’s mortgage payments are higher than many other New England states outside of Massachusetts, largely due to higher home prices and property taxes.

Counties with the highest mortgage payments in New Hampshire

Mortgage payments are highest in counties with higher home prices and proximity to major employment centers.

Counties with the lowest mortgage payments in New Hampshire

More rural counties tend to have lower home prices and lower monthly mortgage payments.

How to calculate your mortgage payment

Mortgage payments are calculated using a standard formula that factors in the loan amount, interest rate, and loan term.

Rocket Mortgage offers an online mortgage calculator that allows buyers to adjust down payment size, interest rate, and loan length to estimate monthly costs and compare scenarios.

New Hampshire-specific mortgage resources

Home buyers in New Hampshire may qualify for programs that help reduce upfront and long-term housing costs:

• New Hampshire Housing Finance Authority (NHHFA): Offers down payment assistance and affordable mortgage programs
• New Hampshire Community Loan Fund: Nonprofit organization that helps to fund affordable home developers and other local initiatives while giving loans for home buyers for manufactured homes.

Average mortgage payment in New Hampshire FAQ

Where can I find the lowest mortgage payment in New Hampshire?

Coos County has the lowest average mortgage payment in the state, at about $1,170 per month.

Which county has the highest mortgage payment in New Hampshire?

Rockingham County has the highest average monthly mortgage payment, at roughly $3,490.

How much do you need to make to afford a home in New Hampshire?

Using the 28% housing guideline, a $1,943 monthly mortgage payment suggests a household income of approximately $83,000 per year, depending on other debts.

The bottom line: Multiple factors shape your mortgage payment in New Hampshire

Mortgage payments in New Hampshire reflect a combination of high home prices and high property taxes. While some northern counties remain relatively affordable, buyers in southern counties face significantly higher monthly housing costs.

Understanding local market conditions, interest rates, and tax implications can help buyers plan more effectively.

Whether you’re a first-time buyer or an experienced homeowner, get prequalified for a loan with Rocket Mortgage to understand your buying power and begin the process with confidence.

*Methodology: Average monthly mortgage payment in a region, calculated based on average home purchase price for a fixed 30-year loan and a 52-week average interest rate of 6.68% from Freddie Mac as of August 2025.

This article is for informational purposes only and is not intended to provide financial, investment, or tax advice. You should consult a qualified financial or tax professional before making decisions regarding your retirement funds or mortgage.

Rocket Mortgage is a VA-approved lender, not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.

Rocket Mortgage is not acting on behalf of FHA or HUD.

The 3% down payment option is only available on certain conventional loan products and is not available in all states. Additional terms and conditions may apply.