Cost of Living in Hanover, NH
Housing
The housing market plays a significant role in determining the cost of living in Hanover, NH.
- Housing Index: 120.5 / 100
- Median Home Price is: $401,000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1840 per month
In analyzing the current housing market in Hanover, NH, it’s evident that the housing index of 120.5 indicates a competitive environment. The median home price of 401000 is above the national average, suggesting that purchasing a home may be a considerable investment. Additionally, renters should anticipate paying an average of 1800 for a 2-bedroom apartment and 1840 for a 2-bedroom house, both pointing to a relatively high cost of living. Prospective movers should weigh these factors against their budget and lifestyle preferences when considering relocation to Hanover.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Hanover, NH.
- Electricity Price: $22.44 USD (median by state)
- Natural Gas Price: $17.58 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Hanover, NH could entail higher utility costs. Electricity costs sit at $22.44, while natural gas is priced at $17.58 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.