Hanover, NY is an idyllic small town located in the Finger Lakes region of New York state. With its close proximity to nearby cities like Rochester and Syracuse, Hanover offers easy access to urban amenities while maintaining a small-town atmosphere. The cost of living in Hanover is lower than the national average with 2 bedroom rent costing only $850 compared to the US average of $1,430. Additionally, groceries are more affordable in Hanover with a grocery cost index of 97 versus 100 nationally.
This charming town also offers plenty of great local businesses creating economic opportunities for its citizens. Notable businesses include Rochester Institute of Technology’s RIT Inn & Conference Center offering lodging and dining options; Marjim Manor Winery providing award-winning wines; and Lyons National Bank helping people achieve their financial goals with excellent customer service.
With its combination of urban convenience and rural charm, Hanover is an ideal place to call home. Between its low cost of living, excellent local businesses, and beautiful natural surroundings, there's no doubt that Hanover is a great place to live!
Hanover has an unemployment rate of 7.4%. The US average is 6.0%.
Hanover has seen the job market decrease by -1.1% over the last year. Future job growth over the next ten years is predicted to be 12.7%, which is lower than the US average of 33.5%.
Tax Rates for Hanover
- The Sales Tax Rate for Hanover is 8.2%. The US average is 7.3%.
- The Income Tax Rate for Hanover is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Hanover
- The average income of a Hanover resident is $24,127 a year. The US average is $28,555 a year.
- The Median household income of a Hanover resident is $59,844 a year. The US average is $69,021 a year.