Living in Hanover, Indiana
Cost of living, income, home prices, rent and demographics of Hanover · Census data 2020–2024
Hanover has 3,554 residents with a median age of 28.1. The median household income is $53,929 (25% lower than the Indiana median), the median home value is $138,700, the median rent is $900/month.
Hanover at a glance
- Population
- 3,554
- Median age
- 28.1State: 38.1
- Median household income
- $53,929State: $71,957
- Median home value
- $138,700State: $218,200
- Median rent
- $900/moState: $1,062
- Homeowners
- 63.9%
- Bachelor's degree or higher
- 17%
- Average commute
- 19 min
Is Hanover a good place to live?
Pros: Home values 36% lower than the state median; an average commute of 19 minutes.
Cons: Median household income 25% lower than the Indiana median; unemployment of 9%; a poverty rate of 13.1%.
The weather is best in May and August to October.
Cost of living in Hanover
Housing is the biggest part of the cost of living. In Hanover the median home value is $138,700, 58% lower than the U.S. median. Renters pay a median of $900 per month, which is 31.7% of household income. Homeowners with a mortgage pay $998 a month in housing costs.
Hanover median household income
The median household income in Hanover is $53,929 and the income per person is $20,759. 13.1% of residents live below the poverty line (Indiana: 12.3%).
Housing in Hanover: homes for sale and rent
- Housing units
- 1,105
- Owner-occupied
- 63.9%
- Renter-occupied
- 36.1%
- Vacant
- 10.2%Includes seasonal homes
- Median year built
- 1972
- Average household size
- 2.52
Hanover demographics
- Population
- 3,554
- Median age
- 28.1
- Under 18
- 15%
- 65 and older
- 11.7%
- Households
- 992
- Foreign-born
- 1.9%
- Veterans
- 4.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Hanover ›
Education in Hanover
17% of adults 25 and older in Hanover have a bachelor's degree or higher (Indiana: 29.5%), and 6.6% have a graduate or professional degree.
Jobs and commute in Hanover
- Unemployment rate
- 9%State: 4.3%
- Average commute
- 19 minState: 24 min
- Work from home
- 4.6%
- Drive alone
- 63.2%
- Public transit
- 0%
- Walk to work
- 16.5%
- Homes with broadband
- 90.4%
Hanover vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Hanover | 3,554 | $53,929 | $138,700 | $900 |
| Milton | 637 | $62,500 | $156,700 | $763 |
| Madison | 12,223 | $61,183 | $203,100 | $820 |
| New Washington | 351 | $81,705 | $187,500 | — |
| Bedford | 386 | $41,875 | $95,800 | $884 |
| Brooksburg | 111 | $39,167 | $179,200 | — |
| Dupont | 279 | $64,338 | $116,700 | $1,000 |
| Commiskey | 139 | $90,188 | $164,800 | — |
| Lamb | 272 | $103,426 | — | — |
More for people moving to Hanover
Hanover ZIP code ›Weather and climate ›Living in Hanover: FAQ
What is the median household income in Hanover, IN?
The median household income in Hanover is $53,929, 25% lower than the Indiana median of $71,957 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Hanover?
The median home value in Hanover is $138,700, compared with $218,200 in Indiana.
How much is rent in Hanover?
The median gross rent in Hanover is $900 per month, about 31.7% of household income.
Is Hanover, IN a good place to live?
Pluses: home values 36% lower than the state median; an average commute of 19 minutes. Minuses: median household income 25% lower than the Indiana median; unemployment of 9%; a poverty rate of 13.1%.
What is the median age in Hanover?
The median age in Hanover is 28.1 years (Indiana: 38.1).
How long is the commute in Hanover?
The average commute to work in Hanover is 19 minutes; 4.6% of workers work from home.
What is the unemployment rate in Hanover?
The unemployment rate in Hanover is 9% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Hanover?
17% of adults in Hanover have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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