There’s a lot of variables depending on your lifestyle and what your looking for/ comfortable with. You’ll definitely need to find a roommate or two, and places in your price range will be small or outdated. As long as you’re comfortable with this, it is possible to find a place downtown, in theory. Unfortunately, when you include other living expenses and lifestyle expenses things get tight pretty quick. If your making 40k, and let’s say taking home 28k annually, you’re looking at $2,333.33 a month. Figuring in rent at a 30% max, you’re looking at $700, not including utilities. Utilities are expensive in the state of New Hampshire, and given the market for affordable housing in your price range, you’ll probably be paying a substantial amount for heat in the winter due to old windows, lack of insulation, etc. Depending on what you consider essential, you’ll also need to consider cable and internet. Now you’ll have to factor in your regular expenses; food, car, clothing, cell phone, etc. Finally, the greatest expense variable depends on your lifestyle. Portsmouth is a great little city with plenty of bars. If you enjoy the nightlife, like being social, and partake in the booze, the remainder of your income can disappear quickly after a few trips downtown. While you won’t be living a lavish lifestyle by any means, it is possible for you to live in Portsmouth. You won’t generate much savings and you might need an extension on those student loans, but you’ll have a great time for a couple of years at least. Best of luck