What Is a Good Salary in New Hampshire?

What constitutes a good salary varies significantly based on individual circumstances and financial priorities. It’s a dynamic figure shaped by economic forces and personal needs, not a fixed value. Understanding a sufficient income requires looking beyond the paycheck, considering the overall economic landscape. This article provides a perspective on salary expectations in New Hampshire.

Understanding a Good Salary in New Hampshire

A good salary in New Hampshire considers the state’s distinct economic environment and tax structure. New Hampshire is notably one of the few states without a general state income tax on wages or a statewide sales tax, which can influence the perceived value of earned income. A tax on interest and dividends was fully phased out for tax year 2025 and beyond, further enhancing the tax-friendly environment for wage earners.

However, this advantage is often offset by higher costs in other areas, particularly property taxes, which are among the highest in the nation. These contribute significantly to the cost of living, which is approximately 13.5% higher than the national average, primarily driven by housing expenses.

Housing costs represent a substantial portion of expenses. The median home value in New Hampshire is around $509,458, and the median sale price for a home was about $487,700 in January 2025. For renters, the average rent for a one-bedroom apartment is around $1,423 to $1,986.48 per month, with variations depending on location. To comfortably afford an average apartment, an annual income of at least $60,320 may be necessary, based on the budgeting rule of spending no more than one-third of gross income on rent.

Utility costs in New Hampshire tend to be higher than the national average, with an average monthly bill around $282.21 to $434. This includes electricity, which can average $141.52 to $228 per month, and gas at about $71.76 monthly. Internet services can add another $84.29 to $140 per month to household expenses.

Groceries can also be a significant expense, with a single individual potentially spending around $379.92 per month on food. Transportation expenses are also notable, with average annual costs for a single individual estimated at $10,938. Gas prices hover around $3.50 per gallon, and monthly public transit passes can range from $70 to $90.

New Hampshire Salary Benchmarks

Understanding a good salary involves examining various benchmarks. The median household income in New Hampshire was estimated at $96,838 in 2023, reflecting an increase from previous years. The average annual salary for individuals in New Hampshire is approximately $62,969, which translates to about $30.27 per hour. The average weekly wage for employees in May 2025 was $1,176.

When considering what income is needed to cover basic living expenses, living wage estimates offer a practical perspective. For a single adult without children, the estimated living wage in New Hampshire is $24.78 per hour, which amounts to roughly $51,542.40 annually for a full-time worker. However, to live comfortably, a single person might need to earn closer to $98,094 per year.

For households with dependents, the required income increases substantially. A single adult with one child needs to earn an hourly rate of $44.93, equating to approximately $93,454.40 annually. For a single adult supporting two children, the living wage rises to $57.30 per hour, or about $119,184 per year.

In households with two working adults, the financial requirements are shared, influencing the individual wage needed. If both adults are working, each would need to earn $17.22 per hour to support a household with no children, totaling around $71,635.20 annually for the household. For two working adults with one child, each adult would need to earn $25.09 per hour, resulting in a combined annual income of approximately $104,374.40.

Factors Influencing Salaries in New Hampshire

Salaries are influenced by several factors, including geographic location, specific industries, education level, and professional experience. Earnings can vary significantly across different regions of the state. For instance, areas in southern New Hampshire, such as Manchester, Nashua, and Portsmouth, generally have higher costs of living and often present more opportunities for higher-paying jobs. In Manchester, the average hourly salary can be around $33.28, while Concord boasts an average annual salary of $71,112. Conversely, more rural areas, particularly in northern New Hampshire, may have lower living costs but also lower average wages.

Industry plays a substantial role in earning potential. Sectors such as healthcare, technology, and finance are among the highest-paying industries in New Hampshire. Management occupations consistently show some of the highest mean wages across the state. For example, a Senior Software Engineer might earn an average of $122,034 annually, while a Mechanical Engineer averages around $80,272.

Education is another important determinant of salary. Generally, higher levels of formal education correlate with increased earnings. Many of the occupations projected to have the highest demand in New Hampshire, such as software developers, financial managers, and nurse practitioners, require at least a four-year degree. This underscores the value of educational attainment in securing higher-paying positions within the state.

Years of professional experience also significantly impact earning potential. As individuals gain more experience in their careers, their salaries tend to increase. In many professions, including teaching, compensation is often structured on a “step schedule” that rewards both education level and years of service, demonstrating how accumulated experience directly translates to higher pay.