In order to afford a two-bedroom apartment in New Hampshire, a renter would need to work 2.8 minimum-wage jobs. The math breaks down like this:
According to HUD’s Fair Market Rent documentation, a two-bedroom apartment will cost about $1,065 in New Hampshire. In order to spend only 30 percent of one’s income on rent, a renter would need to earn $3,548 each month, or $42,580 each year.
New Hampshire has a minimum wage of $7.25. Working 40 hours a week, all year round, a minimum wage earner will make only $15,080. That’s according to the National Low Income Housing Coalition’s Out of Reach 2013 report.
New Hampshire housing came in at 12th most expensive in the nation, with Hawaii coming in 1st, followed by Washington DC, California, and New York. Massachusetts came in 7th, Vermont 16th, and Maine 23rd.