Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 60.2 yrs |
|---|---|
| Avg HH Size | 2.86 |
| Below Poverty | 12.1% ▲ 21% above avg |
| College Grads | 30.6% ▼ 21% below avg |
| Unemployment | 9.9% ▲ 102% above avg |
| HS Graduate | 355 (34.2%) |
| Some College | 151 (14.6%) |
| Associates | 214 (20.6%) |
| Bachelors | 85 (8.2%) |
| Graduate Degree | 232 (22.4%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $35,495 ▼ 53% below avg |
|---|---|
| Median Home Value | $145,800 ▼ 48% below avg |
| Home/Income Ratio | 4.1x (nat avg ~3.5x) |
| Total Housing Units | 560 |
| Vacant Units | 143 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Hanover is a city in New Mexico, located in Grant County. The city spans 1 ZIP code and is home to approximately 1,352 residents. It is an older city, with a median age of 60.2 years.
Economically, Hanover is a lower-income community. The median household income of $35,495 is well below the national average. Approximately 12.1% of residents live below the poverty line. The unemployment rate is 9.9%, more than double the national average.
The real estate market in Hanover is one of the more affordable housing markets in the country. Median home values stand at $145,800, which is below the national average. Homeownership is high at 97.4%, typical of suburban and family-oriented communities.
The population of Hanover is moderately educated. 30.6% of adults hold a bachelor's degree or higher — below the national average. The community is majority White (55.62%).
Hanover, NM offers residents a cost-conscious lifestyle within New Mexico.
| ZIP | Population | Median Income | Median Home | Median Rent | Unemp. | College | Owner Occ. |
|---|---|---|---|---|---|---|---|
| 88041 | 1,352 | $35,495 | $145,800 | — | 9.9% | 30.6% | 97.4% |