By Granite State Report
Summary (for busy Granite Staters)
- Housing: Median NH sale price hovered around $510,600 in September 2025, after hitting a June record of $565,000; supply is up a bit but affordability remains tight.
- Taxes: NH still has no general sales tax and, as of Jan. 1, 2025, the Interest & Dividends tax is repealed, leaving property taxes to do heavy lifting.
- School funding: The NH Supreme Court affirmed that the state must significantly increase base adequacy aid, a ruling with major property-tax implications.
- Energy: Winter 2025–26: EIA expects electric-heated homes to pay more; natural gas about flat; propane and heating oil lower on average. Local electric supply rates rose Aug. 1.
- PFAS: Saint-Gobain’s Merrimack plant is demolished, but cleanup and soil handling remain ongoing concerns; home-sale PFAS disclosure now required.
- Help: Property-tax relief (DP-8), LIHEAP fuel assistance, NHSaves weatherization, and Community Power can cushion costs.
The Big Picture: New Hampshire’s 2025 Affordability Puzzle
New Hampshire’s brand—low taxes, strong labor market, and high quality of life—still draws families and remote workers. The state’s population reached ~1.409 million by mid-2024, largely due to in-migration, and the job market remains tight (August 2025 unemployment ~3.0%). But the same forces that bring people here push prices up—especially for homes and utilities.
The fiscal landscape also shifted in 2025: the Interest & Dividends tax (I&D) is gone, which strengthens NH’s “no-income-tax” identity but increases pressure on property taxes and state funding debates—particularly around education.
Housing: Record Highs, Slight Cooling, Persistent Sticker Shock
What the data shows
- Record summer peak: The median single-family price hit a record $565,000 in June 2025 (NH Association of Realtors data reported by NHPR).
- Latest snapshot: By September 2025, the statewide median listed by Redfin was $510,600 (+3.4% YoY), with more homes for sale and more closings—signs of gradual normalization, not a price reset.
- Trend since 2019: NH Housing’s survey pegged the 2024 median at $514,000—a 71% jump vs. 2019—far outpacing income growth.
What it means for buyers and renters
A modest rate retreat and rising inventory eased bidding wars, but the price floor remains elevated after five years of pandemic-era appreciation. Regional pockets—like Nashua and parts of the Lakes Region—still show strong demand. (Example: Nashua’s September 2025 median near $502k, +11.5% YoY.)
Policy context
Local zoning reforms, accessory dwelling units (ADUs), and permitting streamlining continue to be the main levers. Meanwhile, the long-running Capitol Corridor commuter rail proposal (Boston–Nashua–Manchester–Concord) remains under study and debate—opponents cite cost and ridership risk; supporters argue for regional competitiveness and new housing near stations.
Taxes: “Live Free” Still Means “Pay Property Tax”
What changed in 2025
- No sales tax remains a headline draw.
- I&D tax repeal took effect Jan. 1, 2025, eliminating the tax on passive investment income for individuals. That strengthens NH’s tax-competitive brand, but also shifts more weight to other revenues—primarily property taxes.
Why it matters
Without broad income or sales taxes, NH leans on property taxes to fund local services, including schools. Debates over statewide school funding adequacy—and the distribution of those dollars—feed directly into local tax rates.
Where to start for relief
- Low- & Moderate-Income Homeowners Property Tax Relief (DP-8): State Education Property Tax rebates for eligible homeowners; the filing window typically runs May 1–June 30 each year. Program details and income thresholds are published by the NH Department of Revenue Administration (DRA).
Schools & Your Tax Bill: The ConVal Decision
In July 2025, the NH Supreme Court affirmed that the state underfunds a constitutionally adequate education, upholding a lower court ruling that pointed to hundreds of millions in additional annual aid needed. Translation: a larger state obligation is coming; how lawmakers raise and distribute new dollars will influence local property tax trajectories.
What to watch next
- Legislative response in the 2026 session: will lawmakers rely on statewide revenue, shift formula weights, or alter local responsibilities?
- Education Freedom Accounts (EFAs): In June 2025, Gov. Kelly Ayotte signed SB 295, removing income limits and capping enrollment at 10,000 for 2025–26 (cap increases allowed). By August, 10,000 students were enrolled and ~295 were wait-listed, intensifying debates over fiscal impact and equity.
Energy Costs: This Winter’s Bill, Explained
The national outlook
The U.S. Energy Information Administration (EIA) expects winter 2025–26 home-heating bills to vary by fuel:
- Electricity: Households are likely to pay ~4% more than last winter due to higher retail prices (demand growth from data centers and electrification outpacing new supply).
- Natural gas: Roughly flat overall—slightly higher prices offset by lower consumption.
- Propane & Heating oil: Lower average expenditures, largely from reduced consumption assumptions. Actual bills will depend on weather.
For deeper charts and NH-relevant regional breakouts, EIA’s Winter Fuels Outlook PDF is a handy reference; it’s updated through the season.
Local rates (electricity)
- Eversource (NH) default service for Aug. 1, 2025–Jan. 31, 2026 was approved by the PUC; communications from cities and CPCNH show typical default supply rates moved from ~8.9¢/kWh (early 2025) to ~11.2–13.7¢/kWh depending on utility and program. Check your supplier (utility default vs. Community Power) and your town’s offering.
Watch
- EIA (Administrator brief): Winter Fuels Outlook (prior year format; methodology is the same): https://www.youtube.com/watch?v=ZebfKiwn1tQ
Practical steps now
- NHSaves offers weatherization rebates/financing for air sealing and insulation; Community Action Agencies deliver Weatherization Assistance for income-eligible households.
- LIHEAP (Fuel Assistance) model plan for 2025–26 is active; local CAP agencies are taking applications.
PFAS: Progress, Patience, and Homebuyer Protections
What’s new
- Saint-Gobain (Merrimack): The plant at the center of the region’s PFAS contamination was demolished in July 2025, but long-term remediation plans and soil constraints remain front-of-mind for residents and regulators.
- Home sales: As of 2025, NH requires a PFAS disclosure during residential real-estate transactions, alerting buyers that exceedances have been found statewide and encouraging testing.
Where to track testing and cleanup
- NHDES PFAS Response site aggregates advisories, maps, and the NH-specific PFAS fact sheet (Geisel School of Medicine/Dartmouth collab).
Watch / Embed
- Community PFAS session (Great Bay)
- USGS/WMUR explainer
Child Care & Household Budgets: The Squeeze You Feel
Recent analyses by the NH Fiscal Policy Institute and others point to a stubborn affordability gap: after accounting for housing, childcare, transportation, food, and taxes, the typical NH family now falls short of covering annual necessities, with less disposable income than a decade ago. That budget math dovetails with rising housing and energy costs, as well as tight labor markets that leave childcare staffing constrained and slots limited.
Moving Pieces to Watch (Late 2025–Early 2026)
- Education funding legislation after the ConVal ruling.
- EFA cap and prioritization rules as enrollment pressures continue.
- Winter energy updates from EIA (monthly through March).
- Local electric supply decisions as Community Power and utility default rates reset in February 2026 cycles.
- PFAS site-specific cleanup actions and emerging federal standards.
What Granite Staters Can Do Right Now
1) Cut your energy bills
- Apply for LIHEAP (Fuel Assistance) early; eligibility expands in winter emergencies. Start at the state plan and your local Community Action office.
- Weatherize through NHSaves (rebates/low-interest loans) or Weatherization Assistance Program (income-eligible).
- Compare electricity supply options: your utility default rate vs. your town’s Community Power program rates.
2) Check for property-tax relief
- File DP-8 (Low & Moderate Income Homeowners Property Tax Relief) during the May 1–June 30 window after you get your final tax bill; see DRA for income thresholds and instructions.
3) Buying or selling a home?
- Read the PFAS disclosure, review local water testing history, and consider an independent water test and filtration plan if needed. Start with NHDES PFAS Response resources.
4) Stay on top of school-funding changes
- Watch for legislative updates that may shift state aid—and by extension—local property tax rates. Local hearings and budget sessions will be consequential following the ConVal ruling.
Frequently Searched Questions
Does New Hampshire still have no sales tax and no income tax?
Yes on sales tax (none). On income tax: NH never taxed wage income, and starting Jan. 1, 2025 it no longer taxes interest & dividends.
What is the median home price in NH right now?
It fluctuates monthly; September 2025 statewide median was about $510.6k; June 2025 hit a record $565k.
Will my electric bill go up this winter?
Likely, if you heat with electricity (EIA forecasts ~4% higher costs vs. last winter). If you use natural gas, costs are roughly flat; propane/heating oil households are projected to spend less on average. Local supply rates changed Aug. 1, 2025; check your provider.
What did the school-funding court case actually decide?
The NH Supreme Court affirmed that the state must increase base adequacy aid by a substantial amount (commonly cited at $500M+ annually). Lawmakers must now redesign the formula and funding sources.
Are PFAS still an issue in Southern NH?
Yes. Even with Saint-Gobain demolished, remediation and soil handling remain complex; NH also added PFAS disclosures for home sales in 2025.
- Housing: NHFPI – How NH’s Housing Crisis Is Shaping Families & Communities
- Courts & Schools: WMUR – Justices Hear ConVal Arguments
- Energy: EIA – Winter Fuels Outlook Overview (methodology & scenarios)
- PFAS: NHDES – Community Engagement: PFAS in Great Bay
Sources & Further Reading
Housing & Economy
- Redfin, New Hampshire Housing Market (Sept. 2025 data): median $510,600.
- NHPR, NH housing prices hit new record (June 2025: $565,000 median).
- NH Housing, 2025 Homebuying Survey (2019–2024 trend).
- UNH Carsey School brief: 2024 population 1,409,032, growth via in-migration.
- BLS/NHES unemployment (Aug. 2025 ~3.0%).
Taxes
- DRA: No general sales tax; I&D repeal effective Jan. 1, 2025.
Education
- WMUR & InDepthNH: ConVal ruling affirmed (increase base adequacy aid).
- Ballotpedia: SB 295 signed June 10, 2025 (universal EFAs, 10,000 cap).
- Children’s Scholarship Fund NH: 10,000 students enrolled; ~295 on waitlist (Aug. 1, 2025).
Energy
- EIA Winter Fuels Outlook 2025–26; Reuters summary (electric-heated homes +4%).
- NH PUC Order No. 28,161 and municipal notices: Aug. 1, 2025 supply rate changes (Eversource, Community Power).
- NHSaves & NH Dept. of Energy: weatherization support; LIHEAP model plan 2025–26.
PFAS
- NHPR: Saint-Gobain demolition (July 2025).
- NH Bulletin / Manchester Ink Link: soil containment & remediation status.
- NHPR: Home-sale PFAS disclosure in effect starting 2025.
- NHDES: PFAS Response hub (guidance & fact sheets).
Household Costs & Childcare
- NHPR: Typical NH family cannot cover basic expenses (NHFPI report, Oct. 2025).
Bottom Line
New Hampshire remains attractive for its tax structure, job market, and quality of life—but affordability pressures are real. The combination of elevated home prices, rising electric rates, and the post-ConVal education funding fix will shape local budgets heading into 2026. The smart move is to use every available tool—from weatherization rebates and fuel assistance to property-tax relief—and to stay engaged as lawmakers decide how to fund our schools without burying towns in property taxes.
Useful starting links
- Property-Tax Relief (DP-8): https://www.revenue.nh.gov/resource-center/taxpayer-assistance/low-and-moderate-income-homeowners-property-tax-relief
- NHSaves (rebates & weatherization): https://nhsaves.com/residential/weatherization/
- NH Dept. of Energy – Weatherization Assistance: https://www.energy.nh.gov/consumers/help-energy-and-utility-bills/weatherization-assistance-program
- LIHEAP (Fuel Assistance) plan: https://www.energy.nh.gov/sites/g/files/ehbemt551/files/inline-documents/sonh/low-income-home-energy-assistance-detailed-model-plan-py2026.pdf
- NHDES PFAS Response: https://www.pfas.des.nh.gov/
