New Hampshire’s housing market has an income gap problem.
The median household income has doubled since 1998, hovering at just under $100,000 today. But home prices have jumped at a much faster rate.
Back in 1998, the median New Hampshire home was 2.8 times more expensive than the median income could afford, according to an analysis by New Hampshire Housing, a state-supported housing organization. Today, that same median home is 5.5 times more expensive.
The result is a yawning gap in affordability that appears to only be increasing. It’s a divide that dominated a discussion on the future of housing hosted by the New Hampshire Business Review Thursday.
“The gap between what households earn and what homes cost in New Hampshire has never been wider,” said Heather McCann, managing directo