Home Price Key
Affordable
Average
Expensive
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 $385,011, higher than the Maryland average of $357,815.
The average cost of rent is $2,127/mo in Hanover, primarily driven by the current value of real estate in the Hanover area. While nearly 22.33% of residents own their homes outright in Hanover, 30.97% rent.
Housing affordability isn’t just about home prices, though. The average household income in Hanover is $10,045 per month. Households that rent pay about 21.18% of their income on rent here. Hanover's most expensive areas are in the southeastern regions, while the cheapest areas are in the eastern parts of the city.
Nearby Cities
- Harmans, MD: equally priced homes
- Elkridge, MD: equally priced homes
- Severn, MD: equally priced homes
- Fort Meade, MD: higher priced homes
- Jessup, MD: less expensive homes
- Annapolis Junction, MD: equally priced homes
- Linthicum Heights, MD: equally priced homes
- Ilchester, MD: higher priced homes
- Linthicum, MD: less expensive homes
- Savage, MD: less expensive homes
Cities with Similar Populations
- Anacortes, WA: higher priced homes
- Park Forest, IL: less expensive homes
- Pleasantville, NJ: less expensive homes
- Pleasant Prairie, WI: less expensive homes
- Pittsboro, NC: equally priced homes
- Pinole, CA: higher priced homes
- Petal, MS: less expensive homes
- Perry, GA: less expensive homes
- Pendleton, OR: less expensive homes
- Pelham, AL: less expensive homes
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