The median price of a home in New Hampshire reached a record $575,000 this year and the statewide median rent reached $2,011, according to a yearly report of N.H. Housing.

The report released this week notes that the yearly income required to afford that house would be $189,000, and that only 15 percent of households in the state earn that much.

Home prices differ by region.

City of Keene data shows that the average price of a single-family home in the city reached $420,652 this year, compared to $253,355 in 2020.

N.H. Housing, a public corporation that promotes, finances and supports affordable housing, said in its report that growth in rents slowed to 2 percent by mid-2026, compared to 8 percent in 2021.

But the report said ”this moderation has done little to restore affordability. Renters are still absorbing the cumulative effects of earlier increases while facing higher costs for other necessities.”

Those higher costs in the Northeast are reflected by a 28 percent increase in consumer prices between February 2020 and June 2026, including hikes of 31 percent for food and 67 percent for gasoline, according to the report, which also noted the state’s median household income increased about 4 percent during that period after adjusting for inflation.

Heather McCann, a director at N.H. Housing, said in a news release Thursday that housing trends have ripple effects throughout the economy.

“It influences our workforce, our economy, and the long-term vitality of our communities. This report highlights both the progress being made and the work that remains to ensure New Hampshire has enough housing to support residents, employers, and future growth,” she said.

The report said about one-third of the homes sold in the first seven months of this year cost between $405,000 and $600,000.

“This places a substantial portion of the current for-sale market at price points that are beyond the income-based purchasing power of most New Hampshire households, particularly renters,” the report said.

New Hampshire added 25,872 housing units between 2020 and 2025, equal to about 39 percent of the projected need for 2030 and 25 percent of the projected need by 2040, the report said.

The 2023 Statewide Housing Needs Assessment estimated that 66,538 new housing units would be needed by 2030 to address housing shortages and accommodate growth.

Residential construction varies by region.

For example, through 2025, Cheshire County reached 36 percent of its 2040 projected housing needs, while Carroll County was at 49.8 percent and Hillsborough County was at 22.9 percent.

The report quoted several people about the real-world effects of not having enough affordable housing available.

Richard Scheinblum, chief executive officer of Monadnock Community Hospital, was one of those quoted.

“One of our physicians couldn’t find housing, so I ended up buying a condo and leasing it to her,” he said. “I don’t want to be in the property management business.”

Charyl Reardon, president of the White Mountains Attractions Association, spoke of the connection between the availability of housing and the ability to attract and keep young families in the region.

“We used to have an enrollment of 300-plus, class sizes around 40,” Reardon said. “I have a child in the school system now, and the class size is half that.

“If housing keeps people from moving here, we’re not going to have that 14-to-22 demographic to work in these businesses – and we’re going to lose our schools.”

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