Living in Hanover, Minnesota
Cost of living, income, home prices, rent and demographics of Hanover · Census data 2020–2024
Hanover has 3,626 residents with a median age of 36.1. The median household income is $156,536 (76% higher than the Minnesota median), the median home value is $447,900, the median rent is $1,853/month.
Hanover at a glance
- Population
- 3,626
- Median age
- 36.1State: 38.8
- Median household income
- $156,536State: $89,062
- Median home value
- $447,900State: $329,300
- Median rent
- $1,853/moState: $1,280
- Homeowners
- 93%
- Bachelor's degree or higher
- 52.4%
- Average commute
- 31 min
Is Hanover a good place to live?
Pros: Median household income 76% higher than the Minnesota median; unemployment of 1.3%; a poverty rate of 0.6%.
Cons: Home values 36% higher than the state median; an average commute of 31 minutes.
The weather is best in June to September.
Cost of living in Hanover
Housing is the biggest part of the cost of living. In Hanover the median home value is $447,900, 35% higher than the U.S. median. Renters pay a median of $1,853 per month, which is 23.6% of household income. Homeowners with a mortgage pay $2,454 a month in housing costs.
Hanover median household income
The median household income in Hanover is $156,536 and the income per person is $54,528. 0.6% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Hanover: homes for sale and rent
- Housing units
- 1,200
- Owner-occupied
- 93%
- Renter-occupied
- 7%
- Vacant
- 2.6%Includes seasonal homes
- Median year built
- 2003
- Average household size
- 3.10
Hanover demographics
- Population
- 3,626
- Median age
- 36.1
- Under 18
- 33.1%
- 65 and older
- 7.9%
- Households
- 1,169
- Foreign-born
- 2.4%
- Veterans
- 3.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Hanover ›
Education in Hanover
52.4% of adults 25 and older in Hanover have a bachelor's degree or higher (Minnesota: 39.4%), and 13.1% have a graduate or professional degree.
Jobs and commute in Hanover
- Unemployment rate
- 1.3%State: 4.1%
- Average commute
- 31 minState: 23 min
- Work from home
- 27.4%
- Drive alone
- 69.4%
- Public transit
- 0.1%
- Walk to work
- 0%
- Homes with broadband
- 97.3%
Hanover vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Hanover | 3,626 | $156,536 | $447,900 | $1,853 |
| St. Michael | 20,010 | $131,274 | $390,100 | $1,483 |
| Greenfield | 2,894 | $153,750 | $567,700 | — |
| Rogers | 13,685 | $158,750 | $459,700 | $1,789 |
| Albertville | 8,207 | $132,734 | $343,700 | $1,348 |
| Corcoran | 7,302 | $133,423 | $569,400 | — |
| Rockford | 4,597 | $94,162 | $329,200 | $1,046 |
| Otsego | 22,245 | $119,927 | $396,700 | $1,765 |
| Loretto | 784 | $114,167 | $361,500 | $630 |
More for people moving to Hanover
Hanover ZIP code ›Weather and climate ›Living in Hanover: FAQ
What is the median household income in Hanover, MN?
The median household income in Hanover is $156,536, 76% higher than the Minnesota median of $89,062 (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 $447,900, compared with $329,300 in Minnesota.
How much is rent in Hanover?
The median gross rent in Hanover is $1,853 per month, about 23.6% of household income.
Is Hanover, MN a good place to live?
Pluses: median household income 76% higher than the Minnesota median; unemployment of 1.3%; a poverty rate of 0.6%. Minuses: home values 36% higher than the state median; an average commute of 31 minutes.
What is the median age in Hanover?
The median age in Hanover is 36.1 years (Minnesota: 38.8).
How long is the commute in Hanover?
The average commute to work in Hanover is 31 minutes; 27.4% of workers work from home.
What is the unemployment rate in Hanover?
The unemployment rate in Hanover is 1.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Hanover?
52.4% 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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