Hanover, VA is a vibrant community located just outside of Richmond. Home to many local businesses such as Virginia Crossings Shopping Center, Pamunkey Regional Library, and Short Pump Town Center, Hanover provides plenty of options for shopping and entertainment. The cost of living is also fairly affordable with two bedroom rent at $1,480 per month compared to $1,430 for the rest of US. Additionally, grocery costs in Hanover are slightly lower than the US average according to the Grocery Cost Index. People who choose to live in Hanover have access to ample opportunities for work or leisure activities and enjoy a great quality of life.
Hanover has an unemployment rate of 3.9%. The US average is 6.0%.
Hanover has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 37.7%, which is higher than the US average of 33.5%.
Tax Rates for Hanover
- The Sales Tax Rate for Hanover is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Hanover is 5.8%. 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 $23,451 a year. The US average is $28,555 a year.
- The Median household income of a Hanover resident is $50,321 a year. The US average is $69,021 a year.