Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 37.5 yrs |
|---|---|
| Avg HH Size | 2.99 |
| Below Poverty | 2.2% ▼ 78% below avg |
| College Grads | 61.9% ▲ 60% above avg |
| Unemployment | 1.3% ▼ 74% below avg |
| HS Graduate | 332 (15.7%) |
| Some College | 177 (8.4%) |
| Associates | 296 (14%) |
| Bachelors | 305 (14.5%) |
| Graduate Degree | 1,000 (47.4%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $147,903 ▲ 94% above avg |
|---|---|
| Median Home Value | $421,500 ▲ 51% above avg |
| Home/Income Ratio | 2.8x (nat avg ~3.5x) |
| Median Rent | $1,806/mo |
| Total Housing Units | 1,184 |
| Vacant Units | 28 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Hanover is a city in Minnesota, located in Wright County. The city spans 1 ZIP code and is home to approximately 3,454 residents. It is a relatively young city, with a median age of 37.5 years.
Economically, Hanover is a upper-middle-income community. The median household income of $147,903 is significantly above the national average. Approximately 2.2% of residents live below the poverty line. The unemployment rate is 1.3%, well below the national average.
The real estate market in Hanover is a premium housing market. Median home values stand at $421,500, which is significantly above the national average. Renters typically pay around $1,806 per month. Homeownership is high at 91.8%, typical of suburban and family-oriented communities.
The population of Hanover is highly educated. 61.9% of adults hold a bachelor's degree or higher — significantly above the national average. The community is primarily White (90.68%).
Hanover, MN offers residents above-average earning potential within Minnesota.
| ZIP | Population | Median Income | Median Home | Median Rent | Unemp. | College | Owner Occ. |
|---|---|---|---|---|---|---|---|
| 55341 | 3,454 | $147,903 | $421,500 | $1,806 | 1.3% | 61.9% | 91.8% |