Cost of Living in Hanover, IL
Housing
The housing market plays a significant role in determining the cost of living in Hanover, IL.
- Housing Index: 90.0 / 100
- Median Home Price is: $150,000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1250 per month
Considering a move to Hanover, IL? The housing index here is a competitive 90.0, making it an affordable option compared to many urban areas. With a median home price of 150000 and an average rent of 1200 for a 2-bedroom apartment and 1250 for a house, the cost of living remains reasonable. Moreover, if you're looking for space, renting a house may provide better value. Keep in mind that local amenities, schools, and the job market can significantly affect your overall experience in Hanover.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Hanover, IL.
- Electricity Price: $16.15 USD (median by state)
- Natural Gas Price: $16.59 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Hanover, IL could entail higher utility costs. Electricity costs sit at $16.15, while natural gas is priced at $16.59 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Hanover is a financially viable option for your relocation.