Hanover Park, IL
Population 36,850 · Illinois
About Hanover Park, IL
Hanover Park is a mid-sized city located in Illinois with a population of 36,850 residents according to the latest US Census Bureau American Community Survey data. The median household income is $92,263 per year, which is 23% above the national median of $75,149. The median age of 35 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Hanover Park features a median home value of $260,900, which is 7% above the national median of $244,900. This positions Hanover Park in a moderately priced market relative to the rest of the country. Median monthly rent is $1,478, 27% above the national average of $1,163/month. Of the 11,573 total housing units, 76% are owner-occupied (8,525 units) and 24% are renter-occupied (2,685 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Hanover Park shows an unemployment rate of 4.5%, which is near the national rate of 3.7%. The poverty rate stands at 13.7%, above the national average of 12.4%. Workers in Hanover Park have an average one-way commute time of 29.3 minutes.
Education & Demographics
29.5% of Hanover Park residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 28.4% White, 1.9% Hispanic or Latino, 2.6% Black or African American, and 7.4% Asian residents, with 35.1% of the population being foreign-born.
How Hanover Park Ranks in Illinois
Cost of Living in Hanover Park, IL
Compared to national averages, Hanover Park has a median household income of $92,263 (23% above the national median of $75,149). Home values average $260,900, which is 7% above the national median. Monthly rent at $1,478 is 27% above the US average of $1,163. Within Illinois, Hanover Park's income is 23% above the state average of $75,072, and home values are 57% above the state median of $165,779.
Why Live in Hanover Park, IL?
Hanover Park offers a strong local economy with a median household income of $92,263, well above the national average.
Hanover Park has a population of 36,850 with a median age of 35 years. Compare Hanover Park with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Hanover Park
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Rock Island | 36,758 | $57,292 | $118,400 | Compare |
| Carpentersville | 37,544 | $86,327 | $225,200 | Compare |
| Addison | 35,470 | $87,587 | $318,000 | Compare |
| Oswego | 35,463 | $119,881 | $319,000 | Compare |
| Calumet City | 35,253 | $53,991 | $133,600 | Compare |
| Urbana | 38,447 | $45,854 | $186,300 | Compare |
| Wheeling | 38,495 | $83,251 | $244,600 | Compare |
| Streamwood | 39,055 | $101,049 | $258,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Hanover Park With Other Cities
Frequently Asked Questions about Hanover Park
What is the population of Hanover Park, IL?
The population of Hanover Park, IL is 36,850 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Illinois.
What is the median household income in Hanover Park?
The median household income in Hanover Park, IL is $92,263 per year, which is 23% above the national median of $75,149.
What is the median home value in Hanover Park?
The median home value in Hanover Park, IL is $260,900, which is 7% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Hanover Park?
The median monthly rent in Hanover Park, IL is $1,478, which is 27% above the national average of $1,163/month.
What is the unemployment rate in Hanover Park?
The unemployment rate in Hanover Park, IL is 4.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Hanover Park, IL a good place to live?
Hanover Park offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 36,850 and a median age of 35, the city appeals to a broad range of residents.
How educated is Hanover Park, IL?
29.5% of residents in Hanover Park aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Hanover Park?
Key cost-of-living indicators for Hanover Park, IL: median home value is $260,900 (7% above national), median rent is $1,478/month, and median household income is $92,263. The home-value-to-income ratio is 2.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Hanover Park?
The poverty rate in Hanover Park, IL is 13.7%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Hanover Park, IL?
Hanover Park's population is 28.4% White, 1.9% Hispanic or Latino, 2.6% Black or African American, 7.4% Asian, and 7.8% two or more races. 35.1% of residents are foreign-born.