Hanover cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexHanoverNew HampshireNational
Cost of living index145119100
IndexHanoverNew HampshireNational
Goods & Services index117117100
Groceries index103103100
Health care index116116100
Housing index215127100
Transportation index106106100
Utilities index137137100
The above illustration supplies generalized information for the Hanover, NH cost of living index. Compared to other cities in New Hampshire and cities across the country, the cost of living index in Hanover, NH is 145, which is 22% higher than the New Hampshire average and 45% higher than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Hanover, NH are equal to the average for New Hampshire and 17% higher than the rest of the country.

Did you know?

  • The cost of living in Hanover is 22% higher than the New Hampshire average.
  • The cost of living in Hanover is 45% higher than the national average.
  • The cost of housing in Hanover is 115% higher than the national average.
  • New Hampshire general sales tax is 100% lower than the national average.
  • New Hampshire state income tax is 100% lower than the national average.

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Salary Calculator

This is how much you would need to earn in
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Groceries index
Health care index
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Transportation index
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The salary calculator allows you to compare how much your current salary in Hanover, NH would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Hanover, NH, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Hanover, NH salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$114,655$9,555$2,675$3,440
Renters$47,115$3,926$1,099$1,414
If you want to find a good determining factor for the cost of living and the general affordability of housing in Hanover, NH, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Hanover, NH, the median monthly income is $114,655 for those who own their own homes. Under the standard rule, that income level would allow for $2,675 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $47,115, per the median income in the area. That would allow for renters to spend up to $1,099 on monthly rental expenses.

New Hampshire Sales Tax

StateGeneral Sales TaxWith Max Surtax
New Hampshire0%0%

New Hampshire Income Tax

StateIncome Tax (Low)Income Tax (High)
New Hampshire0%0%
When you are determining the total cost of living in Hanover, NH you will want to make sure you consider both the New Hampshire sales tax and the New Hampshire income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in New Hampshire is 0%, with the highest surtax being 0%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in New Hampshire have a range from 0% to 0%.

Goods & Services

ItemHanoverNational avg.Difference
Haircut $16.88$14.5915.7%
Beauty Salon $41.47$34.6819.6%
Toothpaste $2.32$2.476.2%
Shampoo $1.00$1.022.2%
Movie $10.20$9.873.4%
Bowling $4.62$4.395.2%

Groceries

ItemHanoverNational avg.Difference
Ground Beef $3.76$4.4816.0%
Fried Chicken $1.56$1.466.6%
Milk $2.21$2.366.2%
Potatoes $2.98$3.062.7%
Pizza $8.68$9.246.1%
Beer $9.07$8.635.1%

Health Care

ItemHanoverNational avg.Difference
Optometrist $100.39$99.780.6%
Doctor $149.18$105.0342.0%
Dentist $104.81$88.7018.2%
Ibuprofen $9.68$9.412.8%
Lipitor $277.44$298.507.1%

Housing

ItemHanoverNational avg.Difference
Home Price $417,100.00$175,700.00137.4%
Avg. Mortgage Payment $1,260.97$1,081.0316.6%
Apartment Rent $1,495.00$920.0062.5%

Transportation

ItemHanoverNational avg.Difference
Gasoline $2.28$2.099.0%
Tire Balancing $44.74$45.291.2%

Utilities

ItemHanoverNational avg.Difference
All Electricity$243.35$170.8042.5%
Phone $36.25$28.2628.3%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
North Hartland, VT15111616%
South Royalton, VT7551066%
White River Junction, VT2,32711010%
Enfield, NH96711212%
Hartland, VT45911313%
Hanover, NH8,41114545%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Floris, VA8,41316262%
Plymouth, WI8,40897-3%
Stuarts Draft, VA8,41596-4%
Tecumseh, MI8,40788-12%
Albion, MI8,41676-24%
Hanover, NH8,41114545%
Source: The Hanover, NH cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.