NH affordability hit 51, worst in 20+ years — who is still buying at $569,900?

Question

New Hampshire just posted a number I can't stop thinking about: an affordability index of 51.

Per New Hampshire REALTORS September 2026 Monthly Indicators, the median single-family price rose 6.5% to $569,900, and the affordability index fell to 51 — the lowest in more than 20 years. That means the state's median household income is only 51% of what's needed to qualify for the median-priced home once you count the mortgage, property tax, and insurance. It was 58 a year ago and 53 in August.

And yet the market didn't freeze. Homes for sale rose 19.3% to 3,164 — the most inventory since November 2019 — months of supply sits at 2.9, pending sales rose 8.5%, closed sales were basically flat (−0.3% at 1,310), and buyers still paid 99.4% of list. Days on market rose to 32 from 27, so there's a little more breathing room, but no discount wave. Freddie Mac's 30-year is 7.24% as of Oct 29, so this isn't a cheap-money story either.

I'm a Realtor licensed in NH (Candor Investment Group / eXp Realty) and an investor-operator with 17+ units on the MA side, and I work southern NH regularly. My read: the buyers still closing are the ones with equity to roll, cash, or a rent offset — not first-time buyers stretching on a salary alone.

If you're closing in NH right now — how are you making the monthly math work at an affordability index of 51: equity/cash, house-hacking, or buying for long-term appreciation and accepting a thin first year?

Inder Singh · Answer

Appreciate all three of these — they map the state well. Michael, you're right that it's really two markets: the southern border towns trade like MA suburbs, the interior runs on local wages. Richard, that auction count tells the story — 97 statewide means the distressed pipeline is thin, so the deals are competitive even at auction. And Bianca, I'm with you on the house-hack — it's how I'd tell any beginner here to start, as long as they underwrite a flat first year and keep reserves real, exactly like you said. The breathing room on inspections and credits is the quiet change this year. Nobody's waiving everything anymore, and honestly the market's healthier for it.

Bianca Barcelos · Answer

An affordability index of 51 sounds wild, but having a little extra inventory and homes sitting for a month actually hands buyers some breathing room for the first time in a long time. Instead of waiving every contingency, buyers can take a beat, get an inspection, and even push sellers for rate buydown credits.

House-hacking is honestly one of the best ways to get started for people who are serious about it but beginners in this market. Picking up a multi family or even taking on a single-family with space to finish a basement apartment or rent out rooms is allowing smart, beginner investors to suplement living costs while someone else covers a chunk of that 7%+. It daunting... I'm a realtor too and I'm seeing my clients become home owners and landlords all on the same day (moving from their parents house or a college dorm nonetheless). For the ones that are up for it though, it gives them something manageable, lets them build equity from day one, and teaches you the ropes of being an operator and self managing your asset.

The folks winning right now are getting creative and sometimes a little uncomfortable to set themselves up for a successful future. You still have to be realistic, underwrite for a flat first year, incorporate your own living expenses into your personal budget, and make sure your cash reserves are healthy.

Richard Dale-Mesaros · Answer

You can still get good deals at foreclosure or tax deed auctions in NH, but you have to be a cash buyer, are buying as-is without inspection contingencies and some are occupied, so eviction might have to be started, too. There are only 97 properties headed to foreclosure auction statewide as of this morning, which is significantly less than the 174 we had mid-March!

Michael K Gallagher · Answer

thanks for this, I grew up in central NH (Enfield) and have never operated there, my parents bought one house on 6 acres and still live there today so I've never gotten a real read on the market from a personal perspective so its great to hear these takes. I'm sure the rurual areas differ from the central boarder areas.

NH affordability hit 51, worst in 20+ years — who is still buying at $569,900?

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