Hanover, MN
Population 3,495 · Minnesota
About Hanover, MN
Hanover is a small community in Minnesota with a population of 3,495 residents. The median household income is $147,944 per year, which is above the national average. The median age in Hanover is 37.6 years.
Housing in Hanover has a median home value of $421,700 and median monthly rent of $1,806. Of the 1,197 total housing units, the majority are owner-occupied, with 1,074 owner-occupied and 95 renter-occupied units.
The unemployment rate in Hanover is 1.2% and the poverty rate is 2.2%. 47.8% of residents hold a bachelor's degree or higher. The average commute time is 30.7 minutes.
How Hanover Ranks in Minnesota
Cost of Living in Hanover, MN
Compared to national averages, Hanover has a median household income of $147,944 (97% above the national median of $75,149). Home values average $421,700, which is 72% above the national median. Monthly rent at $1,806 is 55% above the US average of $1,163. Within Minnesota, Hanover's income is 99% above the state average of $74,221, and home values are 106% above the state median of $204,472.
Why Live in Hanover, MN?
Hanover offers a strong local economy with a median household income of $147,944, well above the national average, and a strong job market with an unemployment rate of just 1.2%, and a well-educated community where 47.8% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 2.2%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $421,700. However, Hanover’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Hanover has a population of 3,495 with a median age of 37.6 years. Compare Hanover with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Hanover
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Plainview | 3,501 | $69,800 | $230,600 | Compare |
| Eveleth | 3,470 | $47,721 | $91,800 | Compare |
| Benson | 3,449 | $51,124 | $146,100 | Compare |
| Sleepy Eye | 3,438 | $64,811 | $138,500 | Compare |
| St. Augusta | 3,576 | $116,384 | $323,400 | Compare |
| Perham | 3,577 | $47,088 | $186,000 | Compare |
| Two Harbors | 3,598 | $62,885 | $187,100 | Compare |
| Melrose | 3,608 | $58,107 | $198,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Hanover With Other Cities
Frequently Asked Questions about Hanover
What is the population of Hanover, MN?
The population of Hanover, MN is 3,495 according to the latest Census data.
What is the median household income in Hanover?
The median household income in Hanover, MN is $147,944 per year.
What is the median home value in Hanover?
The median home value in Hanover, MN is $421,700.
What is the average rent in Hanover?
The median monthly rent in Hanover, MN is $1,806.
What is the unemployment rate in Hanover?
The unemployment rate in Hanover, MN is 1.2%.