Things To Know Before Moving To Portsmouth, New Hampshire
Today, head with me to one of New England’s most beloved port towns to review the pros and cons of living in Portsmouth, New Hampshire.
You will learn that this city is fantastic in many ways. However, living here will only be for some.
So, let’s dig into the details about moving to Portsmouth before you start packing.
Pros And Cons Of Living In Portsmouth, New Hampshire
My top 10 living in Portsmouth pros and cons include:
- Amazing waterfront area
- Charming downtown
- Family-friendly
- No income or sales taxes
- Access to regional attractions
- High cost of living
- Excessive real estate taxes
- Taxes on investment income
- Limited diversity
- Unavoidable winter weather
We will get into each of these points in a moment. But first, allow me to cover an all-important question.
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Is Portsmouth, NH A Good Place To Live?
Portsmouth is an excellent place to live. Residents enjoy life in a scenic, coastal New England town, reaping the benefits of good schools, a safe environment, and plenty of history, arts, and culture. In addition, the city’s location is ideal for access to the mountains, the pastoral lands of New Hampshire, or urban amenities in nearby Boston.
Having addressed the highlights, next, let’s dive into the pros AND cons of Portsmouth living.
1. Amazing Waterfront Area
If you like to live near natural bodies of water, you will love life in Portsmouth.
The Piscataqua River borders the city. It flows into Portsmouth Harbor and ultimately into the Atlantic Ocean.
The riverfront, harborfront, and oceanfront land open up various possibilities to enjoy the outdoors. For example, you can take in the following features and activities:
Boat to the nearby Isle of Shoals, a group of small islands and tidal ledges near the coast.
Stroll Prescott Park. The ten-acre waterfront park is on the banks of the Piscataqua River.
Tour the Portsmouth Harbor Lighthouse on the far eastern tip of the neighboring town of New Castle.
Stick your toes in the sand at Wallis Sands State Beach on a hot summer day.
Finally, residents enjoy the Great Bay National Estuarine Research Reserve and Discovery Center. Located west of the city, you will find more than 10,000 acres for fishing, hunting, boating, hiking, and birding.
After you have all of your outdoor desires covered, here is another one of the many benefits of living in Portsmouth.
2. Charming Downtown
Head downtown to Portsmouth’s economic and commercial center, named Market Square. These fantastic city blocks bring history, culture, food, and entertainment to locals and visitors.
People come to Market Square to stroll, shop, drink, and dine. It has become an artsy and foodie destination transitioning from its military and industrial roots of years past.
A recent study found that the city has more restaurant seats than residents. Further proving the area has a solid reputation for tourism and welcoming visitors.
Local Attractions When Living In Portsmouth
The Museum of New Art (MONA) hosts the latest trends in contemporary art. MONA is a non-collecting museum that changes exhibits several times a year.
Enjoy 3S Artspace for exhibits, concerts, and performing arts.
Visit The Music Hall, an 895-seat theater. The venue claims to be one of the oldest of its kind in the United States.
Tour Strawbery Banke, the city’s outdoor history museum. The attraction features nearly 30 preserved historic buildings.
Vintage Christmas is a month-long holiday celebration starting on December 1st. The event features a parade, tree lighting, candle-lit strolls, and ice skating.
Finally, relax with a coffee and a tasty meal at one of the many local favorites. For example, The Friendly Toast gets rave reviews.
Continuing, I have another one of the advantages of Portsmouth living for you.
3. Family-Friendly
This New England city is a great place to live for your entire family, partly because Portsmouth is also a low-crime city with an excellent educational system.
Living In Portsmouth Means Access To Good Public Schools
The Portsmouth School Department runs the system. There are several schools across the entire district, as follows:
- Dondero Elementary School
- Little Harbour Elementary School
- New Franklin Elementary School
- Portsmouth Middle School
- Portsmouth High School
- Robert J. Lister Academy
- Career Technical Education Center
Niche ranks the school district favorably compared to others in Rockingham County, the state, and the country.
Then, take a class to develop your skills or keep the kids close to home for college. Located in nearby Durham, you will find the flagship campus of the University of New Hampshire (UNH).
UNH Durham has one of the safest college campuses in the country. In addition, incredible scenery surrounds the academic and student buildings.
Next, speaking of safety, here is another one of the family-friendly reasons to move to Portsmouth.
Living In Portsmouth Means Low Crime
World Population Review ranks New Hampshire as one of the safest states. And the city is Background Checks.org’s choice for New Hampshire’s safest city.
The low incidence of property and violent crimes in and around town are the basis for the high safety ratings. In addition, a favorable law enforcement officers-to-resident ratio contributes to a good safety record.
Switching gears, I have another one of the reasons to live in Portsmouth. This reason hits squarely on your wallet.
4. No Income Or Sales Taxes
First, this state does not charge income tax on your earned income.
So, do you make good money from your job? Then, know the state government won’t touch any of it.
Second, I have more good news on taxes.
New Hampshire state does not charge sales tax either. So, the price you see on an item is what you pay. Unlike other places where stores tack on a hefty percentage on top of the cost of whatever it is you buy.
Tax savings can help you make ends meet compared to other places to live.
Next is the final item on my list of perks of living in Portsmouth.
5. Access To Regional Attractions
We all need to get away from time to time. Fortunately, excellent day trips and weekend getaways are easily accessible.
Allow me to mention a few of your options after moving to Portsmouth.
Life In Portsmouth Means Access To Oceans, Lakes, Mountains, And Farms
The city is minutes from the New Hampshire seacoast.
Maine’s southern coast is just across the state border. Including all its rugged and beautiful New England charm.
A short trip anywhere north and west into New Hampshire’s small towns and rolling, pastoral farmlands is available.
Not far from Lake Winnipesaukee, the state’s largest lake. This lakes region is a popular destination for outdoor recreation.
One hundred miles south of the iconic White Mountains. This mountain range includes the highest peak in the northeast, Mount Washington.
Thus, after moving to Portsmouth, rivers, lakes, oceanfront, farms, mountains, and big cities are all at your fingertips.
Moving To Portsmouth Means Being Close To Big-City Life
Less than an hour’s drive to New Hampshire’s most populous city, Manchester.
Traffic permitting, you will also live an hour from downtown Boston.
Okay. It’s time to switch it up.
An article about the pros and cons of living in Portsmouth will only be complete by addressing reasons not to move to Portsmouth in the first place.
Let’s do that now.
6. High Cost Of Living
Allow me to get right to the point here. Home prices and apartment rents are high compared to the national average.
For example, during any given month, the median home value base on market data is more than $700,000.
Rent prices have climbed too. They are making rental units out of reach for many people who work and contribute to the local economy.
Without getting into the other costs required to support your family, home prices alone may blow your budget. So the previously mentioned tax savings aside, you can see this is an expensive place to live.
Next is another one of the reasons not to live in Portsmouth.
7. Excessive Real Estate Taxes
New Hampshire is known for high property taxes too. Fortunately, Portsmouth is not among the worst offenders compared to other cities and small towns in the state.
However, it’s common for a median-priced home here to also carry an annual property tax bill above $5,000 per year.
Estimates at the time of this article show tax rates averaging about $15 for every $1,000 in assessed property value. However, the tax rate changes annually.
The city has a nifty online property tax calculator to estimate your real estate taxes more accurately.
Next, another item may impact your budget. Thus, representing more potential disadvantages of living in Portsmouth.
8. Taxes On Investment Income
I did specify earlier that New Hampshire is one of few states that does not tax earned income. However, that only means the money you make from work.
On the other hand, after a small exemption, the state charges a 5% tax on income earned from interest and dividends. As a result, for savers and investors reading, factor this item into your budget.
Okay. I’ve hammered out the big financial reasons why a possible Portsmouth lifestyle may not suit you.
Yet, I can only offer one small consolation regarding your money. So, check out the money-back app from Rakuten, no matter where you choose to live.
Rakuten is the perfect tool for saving money on all your online purchases.
Why pay more if you don’t have to? After all, every bit of savings adds up. Even if moving to Portsmouth is beyond your means.
This next item on my list may not be one of the worst things about living in Portsmouth. However, it’s right up there.
9. Limited Diversity
First, roughly 90% of the population is white. Thus, racial and ethnic diversity is lacking here in this city.
Second, residents tend to be older.
Based on median age, New Hampshire is the second oldest state in the country. Also, the local market prices out younger adults precisely because of the high cost of living compared to other parts of the state.
Thus, residents here are usually more financially established, which often comes with age.
Finally, I have one item to add to the list of bad things about Portsmouth living. And yes, I had to bring up the weather.
10. Unavoidable Winter Weather
You have to put up with winter living here in this coastal city.
Plan on about 4 feet of annual snowfall. And the winter temperatures during January and February routinely drop into the 20s.
But, on a positive note, the ocean moderates the snowfall and cold. Thus, winter conditions are much more extreme in western and northern New Hampshire.
Okay. That completes my discussion of the top 5 cons of living in Portsmouth.
So, allow me to wrap up with a few parting thoughts.
Pros And Cons Of Living In Portsmouth, New Hampshire
Portsmouth is a great place to live in New England‘s “Granite State” as long as you can afford it. Also, you don’t mind putting up with the winter weather season.
I can’t sum it up any more simply than that!
So, if you desire to look for other options, then check out our:
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We have dozens of resources to help you find your perfect place to move.
Best of luck, no matter where you choose to settle down.
Author Bio: Tom Scott founded the consulting and coaching firm Dividends Diversify, LLC. He leverages his expertise and decades of experience in goal setting, relocation assistance, and investing for long-term wealth to help clients reach their full potential.