Analysis: New Hampshire rents have jumped by 37.5% since pandemic began
Increase in state is eight highest in the nation
It will come as no surprise to anyone renting an apartment in the state, but a newly compiled list of average rent increases nationwide says New Hampshire had the eight highest in the nation between March 2020 – the start of the Covid-19 pandemic – and March 2023.
According to a study of Zillow data by the luxury real estate firm RubyHome, New Hampshire saw a 37.5 percent statewide increase in rents in the three-year period, rising from an average $1,286.10 to $1,768.80.
Nationally in the same period, the average monthly residential rental rate in the United States increased by 26.5 percent, to an average $2,108, or nearly double the overall inflation rate for the same three-year period.
The biggest increase in average rents was seen in Florida, where rents grew by 45.8 percent, to an average $2,128.
Other states in the top 10 were: Colorado, up 45.1 percent to an average $2,767; Montana, up 42.35 percent to an average $1,263; Idaho, up 40.6 percent to an average $1,674; Tennessee, up 38.4 percent to an average $1,478; Georgia, up 38.35 percent to an average $1,542; Arizona, up 37.8 percent to an average $1,866; Utah, up 36.5 percent to an average $2,088; and New Mexico, up 36.25 percent to an average $1,622.