Total monthly cost of ownership
Cost to Own a Home in Concord, New Hampshire
A $324,000 home here costs
$2,952per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $126,500 a year.
A standard mortgage calculator would have told you $1,766. The real number is $1,185 higher every month, 67% more than the payment most buyers budget for.
Compare Merrimack County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Concord against Merrimack County and New Hampshire
| Measure | Concord | Merrimack County |
|---|---|---|
| Median home value | $323,700 | $330,600 |
| Median property tax | $7,145 | $6,617 |
| Effective tax rate | 2.207% | 2.002% |
| Median gross rent | $1,360 | $1,293 |
| Population | 44,219 | 155,018 |
The weather behind that power bill
Concord sits in Merrimack County, which averages a high of 80.2°F in its hottest month and a low of 13.2°F in its coldest, with 48.63" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 325 cooling and 7,417 heating degree days, which is what sets the $171 electricity line above.
See the full climate breakdown for Merrimack County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Merrimack County
Full Merrimack County cost breakdown · Every county in New Hampshire
Talk to someone who works this market
These are Concord averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Concord every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Concord I already own here and may sell
Common questions
How much does it cost to own a home in Concord?
A $324,000 home in Concord, New Hampshire costs approximately $2,952 per month with 20% down at 7.24%. That is $1,766 principal and interest, $596 property tax, $80 homeowners insurance, $239 utilities and $270 set aside for maintenance.
What is the property tax rate in Concord?
Concord has an effective property tax rate of 2.207%, based on a median home value of $323,700 and median real estate taxes of $7,145. That is higher than the Merrimack County average of 2.002%.
What is the average home price in Concord?
The median owner-occupied home value in Concord, New Hampshire is $323,700, against $330,600 across Merrimack County.
Is it cheaper to rent or buy in Concord?
Median gross rent in Concord is $1,360 a month, against $2,952 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Concord?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Concord, New Hampshire at today's rate takes a household income of roughly $126,500 a year. That covers the full $2,952 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Concord, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for New Hampshire.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.