Similar to nearby areas, it's a little less expensive compared to the rest of the country. However compared to the city of Washington, it's a lot less expensive.
Home prices
The median home in Hanover costs $155,300. It is is very similar in comparison to the surrounding areas.It is roughly $62,200 (28%) lower compared to the country as a whole, and compared to the city of Washington is about $446,200 (74%) lower.
Rents
Hanover's median rent is $843 per month. It is roughly $137 (13%) lower compared to its surrounding areas.Compared to the entire nation it is roughly $219 (20%) lower, and compared to the city of Washington it is about $698 (45%) lower.
Nearby places
Pennville
Pennville is Hanover's neighbor to the south. Housing prices there are fairly similar. Pennville's median home price is $158,500, which comes out to $3,200 (2%) higher than Hanover. Rent there is somewhat more expensive. The median rent in Pennville is $1,017 a month, which is $174 (17%) higher than Hanover.
Parkville
Parkville is Hanover's neighbor to the south. Housing prices there are similar. The median home in Parkville costs $155,300, which is very similar to Hanover. Rent there is somewhat more expensive. In Parkville the median monthly rent is $1,138, which is $295 (25%) higher than Hanover.
McSherrystown
McSherrystown is about 1 mile west of Hanover. Its housing prices are fairly similar. The median home in McSherrystown costs $158,200, which comes out to $2,900 (1%) higher than Hanover. Its rents are somewhat more expensive. In McSherrystown the median monthly rent is $912, which works out to $69 (7%) higher than Hanover.
New Oxford
New Oxford is about 4 miles northwest from Hanover. Its housing prices are pretty similar. The median home price in New Oxford is $163,100, which works out to $7,800 (4%) higher than Hanover. Rents there are pretty similar. In New Oxford the median monthly rent is $809, which works out to $34 (4%) lower than Hanover.
Abbottstown
Abbottstown is approximately 4 miles north from Hanover. The real estate prices there are a little less expensive. Abbottstown's median home cost is $146,500, which comes out to $8,800 (6%) lower than Hanover. Its rents are a bit more expensive. Abbottstown's median rent is $1,025 per month, which is $182 (17%) higher than Hanover.