The $100,000 Salary Analysis for Dover, NH

This guide assumes a single filer with the standard deduction. No dependents. No 401(k) contributions beyond the baseline calculation. Numbers are estimates; consult a CPA for precision.

1. The Verification Test

Your $100,000 nominal salary is not what hits your bank account. Here is the reality of the deduction slide.

• Gross Salary: $100,000
• Federal Income Tax: ~ $14,000 (Based on 2024 brackets, Single, Standard Deduction)
• FICA (Social Security & Medicare): ~ $7,650
• New Hampshire State Tax: $0 (NH does not tax W-2 wages. It historically taxed interest/dividends, but this is being phased out; effectively $0 for standard wage earners).
• Estimated Net Pay (Annual): $78,350
• Estimated Net Pay (Monthly): $6,529

Purchasing Power Reality: You are losing roughly 22% of your gross income to taxes before you buy anything.

2. Smart Budget (50/30/20)

Using the $6,529 monthly net pay.

• Needs (50% - $3,264):

  • Rent (1BR): $1,500 - $1,800 (Market average for Dover/Rochester area).
  • Utilities/Electric: $150 - $250 (Eversource is expensive; winter heating costs are significant).
  • Groceries: $400 - $500.
  • Car Payment/Gas: $400 - $600 (Public transport is limited; a car is mandatory).
  • Result: This category is tight. If you rent on the higher end, you exceed the 50% rule immediately.

• Wants (30% - $1,958):

  • Dining, entertainment, subscriptions, shopping.
  • Reality Check: This bucket absorbs unexpected costs (car repairs, medical copays).

• Savings (20% - $1,305):

  • Emergency fund, investments, retirement.
  • Analysis: This is a decent savings rate, but it requires strict adherence to the budget.

3. Dover Tax Context

New Hampshire is an outlier. It functions like Texas or Florida regarding wage income, but with a different climate and cost structure.

• Vs. High-Tax (CA/NY): On $100k, CA/NY state tax would be $4,000 - $6,000+. You keep that money in Dover.
• Vs. Low-Tax (TX/FL): Similar net pay.
• The "Gotcha": While you save on income tax, NH has some of the highest property taxes in the nation. If you plan to buy a home, the ~1.8% - 2.2% effective tax rate will heavily impact your "Needs" budget.

4. FAQ

"Is $100k good here?"
It is a livable salary, but it is not "wealthy." You will live comfortably and likely save money, but you will not be balling out of control. You will budget for major expenses. It is "good" because of the lack of state income tax, but "average" because of the high cost of goods and housing in the Seacoast region.

"Local income tax?"
None. Dover does not have a municipal income tax. You pay what the state and federal government demand.