Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 10,348, 3,073 total housing units (homes and apartments), and a median house value of $1,117,790, Hanover house prices are not only among the most expensive in New Hampshire, Hanover real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Hanover, accounting for 61.07% of the town's housing units. Other types of housing that are prevalent in Hanover include large apartment complexes or high rise apartments ( 26.07%), row houses and other attached homes ( 6.30%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.09%).
The most prevalent building size and type in Hanover are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 45.03% owning and 54.97% renting.
There is a lot of housing in Hanover built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Hanover built between 1940-1969 ( 21.86%). A lesser amount of the housing stock also hails from before 1939 ( 21.81%). There's also some housing in Hanover built between 2000 and later ( 10.85%).
Vacant housing appears to be an issue in Hanover. Fully 20.98% of the housing stock is classified as vacant. Left unchecked, vacant Hanover homes and apartments can be a drag on the real estate market, holding Hanover real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Hanover have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 103.42%, which ranks in the top 40% nationwide. This equates to an annual average Hanover house appreciation rate of 7.36%.
NeighborhoodScout's data show that during the latest twelve months, Hanover's appreciation rate, at 7.45%, has been at or slightly above the national average. In the latest quarter, Hanover's appreciation rate has been 1.13%, which annualizes to a rate of 4.60%.
Relative to New Hampshire, our data show that Hanover's latest annual appreciation rate is higher than 60% of the other cities and towns in New Hampshire.
$1,117,790
for New hampshire
for nation
3,073
$2,944 / per month