CALCMONEY // HOME AFFORDABILITY // NH // DERRY
How much house can you afford in Derry? Based on local median home prices, current NH mortgage rates, and Derry property tax data.
$390,000
$2,894/mo
$124,030/yr
$187,184
Monthly housing costs of $2,894 represent 44.5% of Derry's median gross monthly income ($6,500/mo). At 44.5%, median-income buyers in Derry are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $390,000 |
| Down Payment (20%) | $78,000 |
| Loan Amount | $312,000 |
| Monthly PI Payment | $2,065 |
| Monthly Property Tax | $666 |
| Monthly Insurance Est. | $163 |
| Total Monthly PITI | $2,894 |
| Housing Cost % of Income | 44.5% |
| Required Income (28% rule) | $124,030/yr |
| Max Affordable Home | $187,184 |
$13,650
$3,587/mo
Derry Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $390,000 | Derry city median |
| Down Payment (20%) | $78,000 | Conventional loan |
| Monthly PITI | $2,894 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $124,030 | Annual gross |
| Max Affordable Home | $187,184 | Based on median income |
| FHA Down (3.5%) | $13,650 | Minimum FHA |
| Housing Cost % of Income | 44.5% | Median income: $78,000/yr |
| Property Tax Rate | 2.05% | $7,995/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Derry is $390,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $312,000, generating a monthly P&I payment of $2,065. Adding property taxes ($666/mo) and homeowners insurance ($163/mo) brings total monthly PITI to $2,894.
Derry's property tax rate of 2.05% is notably high, meaningfully reducing how much home buyers can afford — lenders factor this directly into debt-to-income calculations. On the Derry median home, that is $666/month, or $7,995 per year.
New Hampshire has no state income tax, improving effective take-home pay for Derry residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning Derry's median income of $78,000/year can afford up to $1,820/month in total housing costs. Based on Derry's mortgage rate of 6.95% and property tax rate of 2.05%, that translates to a maximum affordable home price of approximately $187,184 with 20% down on a 30-year loan.
To afford the median Derry home priced at $390,000, you need an annual gross income of approximately $124,030. Total monthly housing costs (principal and interest of $2,065, property taxes of $666, and insurance of $163) come to $2,894/month, which equals 28% of the required income.
At the median home price of $390,000 and median household income of $78,000, the total monthly housing cost of $2,894 represents 44.5% of gross monthly income. This is well above the standard 28% threshold, making Derry a challenging market for buyers at median income.
A conventional 20% down payment on the median Derry home of $390,000 is $78,000. An FHA loan requires just 3.5% down — $13,650 — but adds mortgage insurance of roughly $267/month, bringing total FHA payments to $3,587/month.