Cost Of Living in Hanover, NH

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F

54%

Overall NAT. AVG.

20%

Goods & Services NAT. AVG.

143%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

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.
Index	Hanover	New Hampshire	National
Cost of living	154	118	100
Goods & Services	120	120	100
Groceries	102	102	100
Health care	113	113	100
Housing	243	123	100
Transportation	110	110	100
Utilities	131	131	100

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Cost Of Living Quick Facts

The cost of living in Hanover is 30% higher than the New Hampshire average
The cost of living in Hanover is 54% higher than the national average
Hanover housing is 143% higher than the national average
New Hampshire general sales tax is 100% lower than the national average
New Hampshire state income tax is 54% higher than the national average

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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 Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$189,205	$15,767	$4,414	$5,677
Renters	$23,613	$1,968	$551	$708

A good indicator of the general affordability of housing in Hanover, NH, 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, the median monthly income is $189,205 for those who own their own homes. Under the standard rule, that income level would allow for $4,414 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $23,613, per the median income in the area. That would allow for renters to spend up to $551 on monthly rental expenses.

New Hampshire Sales Tax

State	General Sales Tax	With Max Surtax
New Hampshire	0%	0%

New Hampshire Income Tax

State	Income Tax (Low)	Income Tax (High)
New Hampshire	4%	4%

Goods & Services

Item	Hanover	National avg.	Difference
Haircut	$26.58	$24.26	9.6%
Beauty Salon	$67.97	$45.56	49.2%
Toothpaste	$3.73	$3.70	0.8%
Shampoo	$1.25	$1.28	2.1%
Movie	$13.07	$12.13	7.7%
Bowling	$25.44	$18.00	41.4%

Groceries

Item	Hanover	National avg.	Difference
Ground Beef	$5.47	$5.84	6.3%
Fried Chicken	$1.44	$1.57	8.5%
Milk	$4.75	$4.67	1.6%
Potatoes	$5.01	$4.93	1.5%
Pizza	$11.66	$12.09	3.6%
Beer	$9.82	$10.41	5.7%

Health Care

Item	Hanover	National avg.	Difference
Optometrist	$115.00	$125.68	8.5%
Doctor	$164.00	$135.78	20.8%
Dentist	$136.17	$113.29	20.2%
Ibuprofen	$11.01	$10.65	3.4%
Lipitor	$483.35	$468.60	3.1%

Housing

Item	Hanover	National avg.	Difference
Home Price	$503,300.00	$184,700.00	172.5%
Avg. Mortgage Payment	$2,281.44	$2,346.69	2.8%
Apartment Rent	$1,657.00	$949.00	74.6%

Transportation

Item	Hanover	National avg.	Difference
Gasoline	$3.33	$3.46	3.9%
Tire Balancing	$86.00	$59.92	43.5%

Utilities

Item	Hanover	National avg.	Difference
All Electricity	$294.40	$193.99	51.8%
Phone	$186.72	$192.25	2.9%

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	Population	Cost of Living Index	National Avg.
Canaan, NH	264	105	5.3%
South Royalton, VT	609	102	1.8%
Hartland, VT	537	110	9.5%
Fairlee, VT	163	105	5.1%
White River Junction, VT	2,528	117	16.9%
Hanover, NH	8,744	154	54.5%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Pulaski, VA	8,744	88	12.4%
Marathon, FL	8,746	144	44.3%
Fitzgerald, GA	8,747	83	17.4%
Riverside, IL	8,748	130	29.9%
Ridgefield, WA	8,751	140	40.4%
Hanover, NH	8,744	154	54.5%