The housing market in Hanover, IL is considerably lower than the national median value of $338,100. The median value for Hanover is $82,500, which translates to a one-year appreciation rate of 7.18%, slightly lower than the nation's appreciation rate of 8.27%. Despite the lower house median value in Hanover compared to the national average, homeowners in the area may still benefit from steady price increases year over year.
The median home cost in Hanover is $82,500. Home appreciation the last 10 years has been 50.3%. Home Appreciation in Hanover is up 14.1%.
Average Age of Homes
- The median age of Hanover real estate is 74 years old
The Rental Market in Hanover
- Renters make up 19.8% of the Hanover population
- 2.9% 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.