A property developer told the House Committee on Housing that New Hampshire’s housing market is in crisis, citing rising home prices, steep rent increases, near‑zero vacancy and rising homelessness.

“Single family home prices continue to rise. The median home price in New Hampshire right now is $520,000,” developer Chris Schleiler told the committee, and added: “Rental rates have increased 30% over the last few years.” He said statewide vacancy rates were reported as low as 0.6% and that his company’s portfolio showed roughly a 2% vacancy rate.

Schleiler described marketplace dynamics he said are driving shortages: in‑migration from higher‑cost states, construction and operating cost inflation, limited developer capacity and local zoning resistance. “For rents to go up from $1400 to $1850 in such a short period of time is dramatic,” he said. He also said homelessness has risen substantially; the Housing Stability Council was reviewing 2023 data showing a large increase in homelessness.

On remedies, Schleiler recommended a combination of state subsidy and local zoning and permitting reforms: reduced single‑family‑only zoning and “light density” rules (for example allowing four units on a single‑family lot), accessory dwelling units by right, fewer parking restrictions, and faster, predictable permitting timelines. He proposed a 60‑day target for permitting responses with short applicant turnaround windows that prevent repeated multi‑month delays. He also supported expanded state subsidy to leverage federal Low Income Housing Tax Credit financing.

Committee members asked about short‑term rentals and northern New Hampshire; Schleiler said he could not definitively attribute statewide shortages to Airbnb‑style rentals but said they warrant closer review in limited markets where housing stock is small.

Why it matters: Schleiler’s testimony framed the problem with specific market measures and offered concrete policy options committee members are likely to consider as they review bills and prepare hearings. The committee chair told members state permitting requirements will be part of the panel’s research agenda going forward.

The session produced no votes; the developer’s remarks will be among materials the committee considers during upcoming public hearings.