Housing costs in Hanover?
A typical home costs
$82,500, which is 75.6% less expensive than the national average of
$338,100 and 65.9% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Hanover costs
$780 per month, which is 45.5% cheaper than the national average of
$1,430 and 61.5% cheaper than the state average of
$1,260.
Can I afford Hanover?
To live comfortably in Hanover, Illinois, a minimum annual income of
$15,840 for a family, and
$26,000 for a single person is recommended.
What does A.I. say about Hanover?
The cost of living in Hanover, IL is relatively low compared to other areas in the United States. Rent prices are quite affordable, with the median for a one bedroom apartment being around $500 per month. Overall grocery costs are also very reasonable, and people can find plenty of good deals on groceries and other necessities at local stores. The sales tax rate in Hanover is 7% which is slightly below average when compared to other areas throughout the country. Finally, gas prices in the area tend to be quite low due to competition from multiple stations located within a small radius. All in all, Hanover proves to be an affordable place for residents looking for value without sacrificing quality of life.