Looking to conduct market research in New Hampshire? First, you’ll have to dive deeper into some key statistics and demographic information to determine the feasibility and budget for your research.
When Drive Research, a full-service market research company, executes research studies throughout the country, we like to dive a little deeper into the demographics and other key variables that represent the specific geographic area. How do we do this?
Our national research company uses an in-house, secondary data system to analyze any city or state. Doing so reveals valuable insights that can help us make better, more effective decisions for our clients serving their communities and beyond.
The data below regarding the population, gender, age, income, education, and housing of New Hampshire was populated using said in-house data system.
Here's a snapshot of key statistics and market research in New Hampshire. Drive Research is a national market research company serving the New England area.
Population
From 2018 to 2023, the population of New Hampshire is expected to increase by 3.7%. In 2018, the population was estimated at 1,343,186. 2023 projections estimate the population will grow to 1,392,480.
In 2018, it was estimated that there were 531,306 households in New Hampshire. By 2023, it is estimated that this number will grow to 555,989. This is a 4.6% increase.
Gender
In 2018, the gender breakdown in New Hampshire was estimated at 49.5% male and 50.5% female. By 2023, the male population is expected to rise by 4.4%, while the female population is expected to increase by 2.9%. These increases will make the gender split in New Hampshire nearly equal by 2023 with a breakdown of 49.9% male and 50.1% female.
Age
The median age in New Hampshire is becoming slightly older. The estimates from 2018 reported the median age of 42.9 years old. In 2023, the median age is expected to increase to 43.3 years old.
Between 2018 and 2023, many age groups in New Hampshire will experience significant shifts. The 65 to 75 age group is expected to increase by 18.7% and the 75 to 84 age group will increase by 27.1%. The 45 to 54 age group will experience a 7.9% decrease by 2023.
Income
The average household income in New Hampshire is expected to increase by 15.0% between 2018 and 2023. In 2018, it is estimated that the average household income was $96,931. Projections for 2023 estimate that the average household income will be $111,438.
Between 2018 and 2023, the total number of households in the $150,000+ income bracket is expected to increase by 31.7%, and the $100,000 to $149,999 bracket will increase by 27.8%, while the total number of households in the $0 to $15,000 range will decrease by 15.3%.
Housing
To accommodate a growing population, the total number of housing units in New Hampshire is expected to increase by 5.0% between 2018 to 2023. The estimated number of housing units in 2018 was 626,905. In 2023, the total number of housing units will increase to 658,217.
In 2018, it was estimated that 84.8% of housing units in New Hampshire were occupied, while 15.3% were vacant. 48.0% of units were occupied by homeowners with a mortgage or loan, while 22.1% own their homes free and clear. 29.9% of occupied units are rented. By 2023, it is estimated that the total number of occupied housing units will grow by 4.6%, while the total number of vacant housing units will increase by 6.9%.
Between 2000 and 2018, it is estimated that the number of renters paying $1000 or more in cash rent increased by 574.7%. In 2018, it was estimated that the majority of renters (69.2%) pay $700 or more in monthly cash rent.
Education
According to 2018 estimates, the population of New Hampshire is mostly college-educated. In 2018, estimates show that 28.6% are high school graduates, 18.9% have completed some college (no degree), 9.9% have their Associates, 21.6% have completed their Bachelor’s, while 13.2% have a graduate degree.
Although these percentages are estimated to stay roughly the same as the population increases into 2023, there will be a 6.5% increase in those who earn the Graduate degrees and a 5.4% increase in those who earn Bachelor’s degrees.
MOSAIC Group
In 2018, estimates reported three dominant MOSAIC groups in New Hampshire were Booming with Confidence, Thriving Boomers, and Significant Singles. Together, these three groups make up nearly half of all households in New Hampshire.
MOSAIC groups are used to identify segments of the population with similar demographics and attitudes, beliefs, and values. Below, these three groups are further explained.
Group 1 - Booming with Confidence
Booming with Confidence is the largest MOSAIC group in New Hampshire, representing 19.3% of households. This group can be described as married couples in their peak earning years who are approaching retirement. These individuals are typically in their 50s and early 60s. Those who fall within the Booming with Confidence group are often highly educated, earn six-figure incomes, and have sophisticated taste.
Group 2 - Thriving Boomers
Thriving Boomers represent 18.9% of households in this geographic area. This group can be described as empty-nesters in their 50s and 60s. They are in the upper-middle class and likely live in quiet towns. These individuals are also have also likely downsized and moved into a smaller home or condo.
Group 3 - Significant Singles
Significant Singles make up 10.8% of households in New Hampshire. This group of individuals represents the trend of Americans staying single longer. The majority of Significant Singles are between the ages of 36 to 65. This group is most likely to rent, have eclectic interests, are body-minded, and have cultural interests.
Drive Research is a national market research company located in New York. Our team has the knowledge and tools to design a robust market research study for all types of organizations in New Hampshire.
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