Housing costs in Hanover?
A typical home costs
$137,300, which is 59.4% less expensive than the national average of
$338,100 and 48.6% less expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in Hanover costs
$790 per month, which is 22.5% cheaper than the national average of
$1,020 and close to the state average of
$800.
Can I afford Hanover?
To live comfortably in Hanover (zip 88041), New Mexico, a minimum annual income of
$26,280 for a family, and
$26,800 for a single person is recommended.
What does A.I. say about Hanover?
The cost of living in 88041 Hanover, NM is relatively low. According to the Best Places Cost of Living Index, Hanover has an index rating of 79.6, which is 21.4% lower than the national average. The median household income in Hanover is $36,115 and the median home price is around $79,000. Utilities including water, electricity and gas are also affordable at prices below the national average. Furthermore, transportation costs are fairly low due to a lack of public transport and inexpensive gas prices. All these factors make 88041 Hanover, NM an attractive destination for those looking for low-cost living options.