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 $167,923, lower than the Michigan average of $196,062.
The average cost of rent is $819/mo in Hanover, primarily driven by the current value of real estate in the Hanover area. While nearly 48.11% of residents own their homes outright in Hanover, 13.89% rent.
Housing affordability isn’t just about home prices, though. The average household income in Hanover is $6,497 per month. Households that rent pay about 12.60% of their income on rent here. Hanover's most expensive areas are in the eastern regions, while the cheapest areas are in the western parts of the city.
Nearby Cities
- Moscow, MI: less expensive homes
- Horton, MI: equally priced homes
- Pulaski, MI: equally priced homes
- Jerome, MI: higher priced homes
- Concord, MI: less expensive homes
- Spring Arbor, MI: equally priced homes
- Jonesville, MI: less expensive homes
- Somerset Center, MI: equally priced homes
- North Adams, MI: less expensive homes
- Sandstone, MI: less expensive homes
Cities with Similar Populations
- Albertson, NC: less expensive homes
- Sharpsburg, NC: less expensive homes
- Evensville, TN: equally priced homes
- Enterprise, UT: higher priced homes
- Elysian Fields, TX: less expensive homes
- Sterling, OH: equally priced homes
- Candia, NH: higher priced homes
- Swoope, VA: higher priced homes
- Teachey, NC: less expensive homes
- Three Rivers, TX: less expensive homes
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