Population Growth in New Hampshire

Verani Realty

The good news is New Hampshire’s population is rising. Although slowly, the majority occurring in the southern portion of the state. As of 2018, the population estimates equals 1.35 million, a slight increase over its population of 1.31 million at the 2010 Census.

The state has experienced a growth rate of 0.16%, which continues to be one of the slowest growth rates in the U.S. Statistically, the state is densely populated in comparison to its size and ranks 21st in the country in this respect.

Areas of growth versus decreases in population

Population growth continues slowly but steadily, mostly within Rockingham, Strafford, Hillsborough and Merrimack counties. The rising population is indicative of a healthy economy in these areas, creating business opportunities and a diversified commercial real estate market.

However, over the past few years, the northern region of the state has either experienced slight decreases in its population or simply maintained its population count. Towns including Jaffrey, Keene, Conway and Gorham have seen slight decreases in estimated population for 2018, while towns such as Lincoln, Hanover and Freedom are expected to have slight increases.

Southern growth attributed to migration

Current numbers don't quite compare to the growth the state experienced in the 1980s and 1990s. During that time, an influx of people, many from neighboring Massachusetts, made the move to New Hampshire, making it the fasting growing state in the entire Northeast.

With its small footprint and mountainous terrain, the growth experienced could only be maintained for so long. While New Hampshire's population has grown quickly for decades, researchers have found the growth rate is rapidly slowing down, and aging.

Here are the stats:

  • Migration accounted for nearly all the growth. In the most recent year, the number of people moving in from other states was 4,700 higher than the number moving out.
  • Several high profile companies located within the state are experiencing growth and expansion, further driving the influx of other enterprises into the state.  For example, Lonza Biologics, located in Portsmouth, is in the preliminary phases of getting expansion approval in order to meet their projected demand from the pharmaceutical and biologic industries. This expansion could create approximately 1,000 new job opportunities in New Hampshire.
  • Growth in manufacturing and tech is further revitalizing the state’s economy and commercial development opportunities.
  • The state is considered to be relatively tax friendly. The rates of the business profits tax and the business enterprise tax are continuing to decrease to 7.5 and 0.5 percent, respectively, by the end of 2021.  Currently there are no indications that lawmakers plan to alter this.

As the economy continues its uptick, it is estimated that more commercial development will steadily follow – keeping up with migration demands. After all, this state boasts some of the top communities in the country for business development. It also offers those who move here a short drive to the ocean, picturesque mountain ranges, and lush forests.

New Hampshire has been steadily working for the last decade to create growth hubs or nodes where both large and small businesses will have the opportunity to prosper. Revitalization of urban environments – such as Concord’s contribution of $10 million dollars for their Main Street project, offering affordable housing, social spaces, recreation, and walkability – are just an example of how its creating the ideal environment for population growth and business expansion.

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