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These days, finding an affordable place to live in the Hanover area can be challenging. Home prices in Hanover are now at a median cost of $292,325, lower than the Connecticut average of $418,901.
The average cost of rent is $1,227/mo in Hanover, primarily driven by the current value of real estate in the Hanover area. In Hanover, 13.40% of households rent, and 42.99% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Hanover is $6,372 per month. Households that rent pay about 19.25% of their income on rent here. Hanover’s most expensive areas are in the northeastern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Baltic, CT: equally priced homes
- Newent, CT: higher priced homes
- Canterbury, CT: higher priced homes
- Scotland, CT: equally priced homes
- Westminster, CT: higher priced homes
- North Franklin, CT: higher priced homes
- Taftville, CT: less expensive homes
- Jewett City, CT: equally priced homes
- South Windham, CT: equally priced homes
- Windham, CT: less expensive homes
Cities with Similar Populations
- Saulsbury, WV: less expensive homes
- Ionia, IA: less expensive homes
- Jasper, VA: less expensive homes
- Kanarraville, UT: higher priced homes
- Killarney Shores, MO: less expensive homes
- Laclede, ID: higher priced homes
- Lake Church, WI: equally priced homes
- Lake Garfield, FL: less expensive homes
- Roxbury, NY: equally priced homes
- Roxton, TX: less expensive homes
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