The housing market in Hanover, NJ is very expensive compared to the US average. The median value of a house in Hanover is $646,100 which is almost double the US median value of $338,100. Despite this, the appreciation growth of houses in Hanover over the past year has been slightly less than the US average at 6.48% when compared to 8.27% respectively. This suggests that the market for high-end real estate may be slowing down in Hanover.
The median home cost in Hanover is $646,100. Home appreciation the last 10 years has been 44.3%. Home Appreciation in Hanover is up 12.1%.
Average Age of Homes
- The median age of Hanover real estate is 44 years old
The Rental Market in Hanover
- Renters make up 14.6% of the Hanover population
- 0.7% of houses and apartments in Hanover, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.