CALCMONEY // HOME AFFORDABILITY // NH // DOVER
How much house can you afford in Dover? Based on local median home prices, current NH mortgage rates, and Dover property tax data.
$365,000
$2,699/mo
$115,688/yr
$163,690
Monthly housing costs of $2,699 represent 46.3% of Dover's median gross monthly income ($5,833/mo). At 46.3%, median-income buyers in Dover are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $365,000 |
| Down Payment (20%) | $73,000 |
| Loan Amount | $292,000 |
| Monthly PI Payment | $1,933 |
| Monthly Property Tax | $614 |
| Monthly Insurance Est. | $152 |
| Total Monthly PITI | $2,699 |
| Housing Cost % of Income | 46.3% |
| Required Income (28% rule) | $115,688/yr |
| Max Affordable Home | $163,690 |
$12,775
$3,348/mo
Dover Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $365,000 | Dover city median |
| Down Payment (20%) | $73,000 | Conventional loan |
| Monthly PITI | $2,699 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $115,688 | Annual gross |
| Max Affordable Home | $163,690 | Based on median income |
| FHA Down (3.5%) | $12,775 | Minimum FHA |
| Housing Cost % of Income | 46.3% | Median income: $70,000/yr |
| Property Tax Rate | 2.02% | $7,373/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Dover is $365,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $292,000, generating a monthly P&I payment of $1,933. Adding property taxes ($614/mo) and homeowners insurance ($152/mo) brings total monthly PITI to $2,699.
Dover's property tax rate of 2.02% is notably high, meaningfully reducing how much home buyers can afford — lenders factor this directly into debt-to-income calculations. On the Dover median home, that is $614/month, or $7,373 per year.
New Hampshire has no state income tax, improving effective take-home pay for Dover residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning Dover's median income of $70,000/year can afford up to $1,633/month in total housing costs. Based on Dover's mortgage rate of 6.95% and property tax rate of 2.02%, that translates to a maximum affordable home price of approximately $163,690 with 20% down on a 30-year loan.
To afford the median Dover home priced at $365,000, you need an annual gross income of approximately $115,688. Total monthly housing costs (principal and interest of $1,933, property taxes of $614, and insurance of $152) come to $2,699/month, which equals 28% of the required income.
At the median home price of $365,000 and median household income of $70,000, the total monthly housing cost of $2,699 represents 46.3% of gross monthly income. This is well above the standard 28% threshold, making Dover a challenging market for buyers at median income.
A conventional 20% down payment on the median Dover home of $365,000 is $73,000. An FHA loan requires just 3.5% down — $12,775 — but adds mortgage insurance of roughly $249/month, bringing total FHA payments to $3,348/month.