Cost of Living in Conway, NH

With a cost of living index of 88, Conway, NH is a very affordable place to live. Living here is 12% cheaper than the national average and 13% below the New Hampshire state average of 102. Conway is a small community of 3,833 residents.

Housing costs are the biggest factor in Conway's cost of living. The median monthly rent is $976 (26% below the US median of $1,319), and the median home value sits at $255,300 (16% below the national median of $304,900). At current prices, the median home costs roughly 4.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Conway is $58,796, which is 22% lower than the national median of $75,149. Residents spend roughly 20% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Conway. The area sees an average annual temperature of 44.7°F, with summers averaging 67°F and winters around 22°F. Annual rainfall totals 46.9 inches spread over roughly 144 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.