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 $114,955, lower than the New Mexico average of $199,923.
The average cost of rent is $639/mo in Hanover, primarily driven by the current value of real estate in the Hanover area. While nearly 49.01% of residents own their homes outright in Hanover, 16.78% rent.
Housing affordability isn’t just about home prices, though. The average household income in Hanover is $2,814 per month. Households that rent pay about 22.71% of their income on rent here. Hanover's most expensive areas are in the northern regions, while the cheapest areas are in the southern parts of the city.
Nearby Cities
- Mimbres, NM: higher priced homes
- Fort Bayard, NM: less expensive homes
- San Lorenzo, NM: equally priced homes
- Vanadium, NM: less expensive homes
- Bayard, NM: less expensive homes
- Santa Clara, NM: less expensive homes
- Sherman, NM: less expensive homes
- Hurley, NM: less expensive homes
- Arenas Valley, NM: higher priced homes
- Pinos Altos, NM: higher priced homes
Cities with Similar Populations
- Lodge, SC: less expensive homes
- Ringgold, MD: higher priced homes
- Rincon, NM: less expensive homes
- Ridgeway, NY: higher priced homes
- Ridgeview, WV: less expensive homes
- Marbletown, NY: equally priced homes
- Mallie, KY: less expensive homes
- Maitland, MO: equally priced homes
- Mahon, IN: higher priced homes
- Madley, PA: higher priced homes
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