Cost of Living in Somersworth, NH

Housing

The housing market plays a significant role in determining the cost of living in Somersworth, NH.

• Housing Index: 115.0 / 100
• Median Home Price is: $303000
• Average Rent (2 BR Apartment): $1800 per month
• Average Rent (2 BR House): $1840 per month

Analyzing the housing data for Somersworth, NH, we see a housing index of 115.0, indicating that the market is somewhat higher than the national average. With a median home price of 303000, purchasing a home is a significant commitment, though it offers long-term value. Renting seems to be slightly more affordable if you're considering living costs, as average rent for a 2BR apartment is at 1800 while a 2BR house averages 1840. Overall, weigh the advantages of homeownership against rental convenience, given the long-term prospects of the real estate market in this area.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Somersworth, NH.

• Electricity Price: 22.44 USD (median by state)
• Natural Gas Price: $17.58 USD per Thousand Cubic Feet (median by state)
• Other Utilities (water, garbage, etc.): $250 per month

Living in Somersworth, NH could entail higher utility costs. Electricity costs sit at 22.44, while natural gas is priced at 17.58 per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 110.5

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $75841

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Somersworth, NH, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.