F
Overall 11%
Goods & Services 10%
Housing 24%
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The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
IndexHanoverMinnesotaNational
Cost of living111103100
Goods & Services110108100
Groceries102104100
Health care98107100
Housing124100100
Transportation10699100
Utilities9797100

Key findings

  • The cost of living in Hanover is 7% higher than the Minnesota average
  • The cost of living in Hanover is 11% higher than the national average
  • Hanover housing is 24% higher than the national average
  • Minnesota general sales tax is 35% higher than the national average
  • Minnesota state income tax is 117% higher than the national average

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Compare Hanover, MN Cost of Living

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$91,964$7,664$2,146$2,759
      Renters$46,429$3,869$1,083$1,393

      Minnesota Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      Minnesota6.875%7.875%

      Minnesota Income Tax

      StateIncome Tax (Low)Income Tax (High)
      Minnesota5.35%9.85%

      Goods & Services

      ItemHanoverNational avg.Difference
      Haircut $24.99$20.2723.3%
      Beauty Salon $35.26$40.3912.7%
      Toothpaste $3.35$2.3641.9%
      Shampoo $1.11$1.083.4%
      Movie $9.80$10.9910.8%
      Bowling $28.70$15.4985.3%

      Groceries

      ItemHanoverNational avg.Difference
      Ground Beef $4.25$4.301.2%
      Fried Chicken $2.02$1.4044.1%
      Milk $2.52$2.2014.4%
      Potatoes $3.23$3.220.4%
      Pizza $13.00$10.7421.1%
      Beer $9.02$9.606.0%

      Health Care

      ItemHanoverNational avg.Difference
      Optometrist $90.04$109.7317.9%
      Doctor $145.70$118.3423.1%
      Dentist $87.08$100.9413.7%
      Ibuprofen $10.75$9.938.2%
      Lipitor $439.28$469.536.4%

      Housing

      ItemHanoverNational avg.Difference
      Home Price $270,600.00$184,700.0046.5%
      Avg. Mortgage Payment $1,209.19$1,229.621.7%
      Apartment Rent $669.00$949.0029.5%

      Transportation

      ItemHanoverNational avg.Difference
      Gasoline $2.67$2.711.5%
      Tire Balancing $61.39$51.8618.4%

      Utilities

      ItemHanoverNational avg.Difference
      All Electricity$162.80$170.844.7%
      Phone $184.36$187.181.5%
      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

      CityPopulationCost of Living IndexNational Avg.
      Montrose, MN3,046981.6%
      Watertown, MN4,298981.5%
      Big Lake, MN10,3931033.0%
      Osseo, MN2,6121010.8%
      Anoka, MN17,3251011.1%
      Hanover, MN3,06411110.9%

      Cities with similar population

      CityPopulationCost of Living IndexNational Avg.
      Proctor, MN3,064990.6%
      Eunice, NM3,0648515.3%
      Lakemore, OH3,0648911.1%
      Sherrill, NY3,063973.5%
      Brazoria, TX3,0638712.8%
      Hanover, MN3,06411110.9%
      Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.