Housing costs in Hanover?
A typical home costs
$164,100, which is 51.5% less expensive than the national average of
$338,100 and 38.6% less expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in Hanover costs
$790 per month, which is 44.8% cheaper than the national average of
$1,430 and 29.1% cheaper than the state average of
$1,020.
Can I afford Hanover?
To live comfortably in Hanover, New Mexico, a minimum annual income of
$31,320 for a family, and
$26,800 for a single person is recommended.
What does A.I. say about Hanover?
The cost of living in Hanover, NM is quite reasonable. According to BestPlaces, the standard cost of living index for Hanover is 77.71, which is lower than the national average. Housing prices are relatively low compared to other cities in the state and across the country; groceries and other necessities are also generally affordable. The city does not have a sales tax rate, making it an attractive place to shop for basic items as well as luxury goods. Additionally, local transportation costs are low considering there are no public transportation systems in town and most people rely on their own vehicles. All in all, Hanover is an affordable place to live with plenty of amenities available for those who choose to call it home.