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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 $313,075, lower than the Texas average of $322,096.
The average cost of rent is $889/mo in Hanover, primarily driven by the current value of real estate in the Hanover area. In Hanover, 7.34% of households rent, and 60.55% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Hanover is $4,635 per month. Households that rent pay about 19.18% of their income on rent here. Hanover’s most expensive areas are in the central regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Gause, TX: equally priced homes
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Cities with Similar Populations
- Rogers, KY: less expensive homes
- Rochester, TX: less expensive homes
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- Rocky Gap, VA: less expensive homes
- Roebuck, VA: less expensive homes
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