Cost of Living in Dover, NH

An Overview of Cost of Living in Dover, NH

Knowing the cost of living in Dover allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Dover stands at 124, marking it 24% higher than the national average.

If you value affordability in your search for a new place to live, Dover may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Dover falls into this category, which may not align with your desire for an affordable place to call home.

When it comes to the cost of living in Dover, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 41.3% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Goods and services make up 33% of the total cost of living index score and are a large part of your everyday expenses. These items could include things like haircuts, salons, toothpaste, shampoo, clothes, movies, bowling, gym memberships or yoga. In Dover, you can expect to pay 20.2% more than average for these items, making it a more expensive place to live.

What Do Locals Say About the Cost of Living in Dover?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 11 locals to understand their opinions on the cost of living in Dover. The results indicated that 45% found it reasonably priced with decreasing prices of goods and services, while 55% viewed it as quite expensive, with increasing prices.

Is Dover Affordable?

Is Dover affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Dover, the median home price is 48.4% higher than the national average and monthly rent prices are 24.8% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Dover boasting a median household income of $74,833, 35.3% higher than the national average.

What Factors can Influence the Cost of Living in Dover?

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Dover, the healthcare costs are 13.2% higher than the national average.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Dover, the housing index comes in at 41.3% higher than the national average.

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Dover, the transportation index is 9.9% higher than the national average.

Where is the Data From?

The cost of living data in Dover displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.