KEENE, N.H. (MyKeeneNow) Rising costs in housing, childcare, and healthcare are leaving New Hampshire families with less financial breathing room than ever before, according to Phil Sletten, research director at the New Hampshire Fiscal Policy Institute (NHFPI). Sletten joined Dan Mitchell on WKBK Radio’s Good Morning with Dan Mitchell Wednesday to discuss a new NHFPI analysis showing that the state’s typical family of four is now $17,000 worse off than a decade ago.

Sletten said that in 2015, a median-income household had about $15,400 left after paying for essentials such as housing, food, healthcare, and childcare. In 2024, that same family would end the year roughly $1,900 in the red. “These are not luxury expenses we’re talking about,” Sletten told Mitchell. “They’re the basics, and they’re getting harder for families to afford.”

Among the most dramatic increases, Sletten said, are in healthcare, where total costs—including both family and employer contributions—have jumped 163 percent over 20 years. Median family health insurance premiums now total around $26,000 a year. Housing costs have also surged, driven by rising mortgage rates and limited supply, while childcare costs have climbed due to a lack of availability.

Sletten noted that while wages have risen somewhat faster since the pandemic, they have not kept pace with these escalating costs. He warned that the affordability crunch is affecting workforce recruitment, homeownership rates, and young families’ ability to stay in New Hampshire.

New Hampshire ranks among the lowest states in public funding for higher education, Sletten added, which has contributed to tuition increases that nearly doubled since 2005. He pointed to local zoning rules and limited childcare capacity as ongoing barriers to affordability.

Sletten also mentioned that NHFPI will host a statewide conference on affordability issues later this year, bringing together experts to explore policy-based solutions in housing, childcare, and healthcare.

Listen to the full interview: