Hanover, NH Cost Of Living
Cost Of Living In Hanover, NH Summary
Cost of living in Hanover research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Hanover is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New Hampshire, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Hanover is 155, with 100 being the average.
The cost of living index in Hanover is 1.6x higher than the national average.
Hanover ranks as the #26 cheapest in New Hampshire out of 26.
Hanover ranks as the #5,809 cheapest out of 6,489 in the US.
The median home value in Hanover is $968,063.
The median income in Hanover is $135,250.
Table Of Contents
Hanover's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Hanover, NH?
According to the most recent data on the cost of living, Hanover has an overall cost of living index of 155, which is 1.6x higher than the national index of 100.
Compared to New Hampshire, Hanover has a cost of living index that's 1.3x higher than New Hampshire's index of 116.
The standard of living in Hanover ranks as #26 most affordable out of the 26 places we measured in New Hampshire. By definition, that implies Hanover ranks as the #0 most expensive place in the Granite State.
For more reading on life in Hanover, check out:
In New Hampshire
In America
Hanover Cost Of Living Vs. New Hampshire
Six factors go into calculating the cost of living index in Hanover. Here is how it fairs on each of the criteria:
The Services index in Hanover is 118.
The Groceries index in Hanover is 101.
The Health index in Hanover is 115.
The Housing index in Hanover is 242.
The Transportation index in Hanover is 110.
The Utilities index in Hanover is 131.
| Living Expense | Hanover | New Hampshire | National Average | |
|---|---|---|---|---|
| Overall | 155 | 116 | 100 | |
| Services | 118 | 118 | 100 | |
| Groceries | 101 | 103 | 100 | |
| Health | 115 | 114 | 100 | |
| Housing | 242 | 122 | 100 | |
| Transportation | 110 | 110 | 100 | |
| Utilities | 131 | 132 | 100 | |
Hanover, NH Housing Cost Breakdown
Housing swings affordability the most between places in New Hampshire, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Hanover is $968,063.
The Median Rent in Hanover is $2,132.
The Median Income in Hanover is $135,250.
The Home Value To Income in Hanover is 7.2x.
The Rent To Monthly Income in Hanover is 0.19x.
| Statistic | Hanover | New Hampshire | United States |
|---|---|---|---|
| Median Home Value | $968,063 | $501,649 | $303,400 |
| Median Rent | $2,132 | $1,423 | $1,348 |
| Median Income | $135,250 | $95,628 | $78,538 |
| Home Value To Income | 7.2x | 5.2x | 3.9x |
| Rent To Monthly Income | 0.19x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
Hanover, NH Costs By Category
Detailed Hanover Services Costs Vs. New Hampshire
| Item | Hanover | New Hampshire |
|---|---|---|
| Shampoo | $1.25 | $1.28 |
| Movie | $13.07 | $12.13 |
| Bowling | $25.44 | $18 |
| Haircut | $26.58 | $24.26 |
| Beauty Salon | $67.97 | $45.56 |
Detailed Hanover Groceries Costs Vs. New Hampshire
| Item | Hanover | New Hampshire |
|---|---|---|
| Ground Beef | $5.47 | $5.84 |
| Fried Chicken | $1.44 | $1.57 |
| Milk | $4.75 | $4.67 |
| Potatoes | $5.01 | $4.93 |
| Pizza | $11.66 | $12.09 |
| Beer | $9.82 | $10.41 |
| Toothpaste | $3.73 | $3.7 |
Detailed Hanover Health Costs Vs. New Hampshire
| Item | Hanover | New Hampshire |
|---|---|---|
| Optometrist | $115.0 | $125.68 |
| Doctor | $164.0 | $135.78 |
| Dentist | $136.17 | $113.29 |
Detailed Hanover Transportation Costs Vs. New Hampshire
| Item | Hanover | New Hampshire |
|---|---|---|
| Gasoline | $3.33 | $3.46 |
| Tire Balancing | $86.0 | $59.92 |
Detailed Hanover Utilities Costs Vs. New Hampshire
| Item | Hanover | New Hampshire |
|---|---|---|
| All Electricity | $294.4 | $193.99 |
| Phone | $186.72 | $192.25 |
Hanover SnackAbility
/10
Cost Of Living In Cities Around Hanover
The cost of living varies in the cities and towns around Hanover. Here's a quick look at the cost of living in the most populous nearby places:
Concord, NH has a cost of living index of 117, 0.8x Hanover.
Lebanon, NH has a cost of living index of 121, 0.8x Hanover.
Montpelier, VT has a cost of living index of 117, 0.8x Hanover.
| City | Population | Cost Of Living | Vs. Hanover |
|---|---|---|---|
| Concord, NH | 44,219 | 117 | 0.8x |
| Lebanon, NH | 14,759 | 121 | 0.8x |
| Montpelier, VT | 8,038 | 117 | 0.8x |
| Middlebury, VT | 7,145 | 122 | 0.8x |
