Housing costs in Hanover?
A typical home costs
$412,400, which is 22.0% more expensive than the national average of
$338,100 and 33.2% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Hanover costs
$1,200 per month, which is 16.1% cheaper than the national average of
$1,430 and 3.3% cheaper than the state average of
$1,240.
Can I afford Hanover?
To live comfortably in Hanover, Minnesota, a minimum annual income of
$78,840 for a family, and
$39,200 for a single person is recommended.
What does A.I. say about Hanover?
Hanover, MN has a relatively high cost of living compared to the national average. Rent for a one bedroom apartment is typically around $850 per month, while home prices average around $200,000. Groceries and other necessary items are also somewhat higher than the national average. Transportation costs are fairly low as there are multiple public transportation options available in the city. Overall, living in Hanover can be expensive but it is still possible to find ways to save money by being mindful of expenses and budgeting accordingly.