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Hanover County Housing Market

Virginia · 133 counties · Ranked #2860 in home value

Above National Avg

Housing at a Glance

Median Home Value

$372,700

vs national+$372,700 vs $281,900 national

Median Gross Rent

$1,496/mo

vs national+$1,496 vs $1,163 national

Effective Tax Rate

0.67%

vs national0.67% vs 1.02% national

Median Household Income

$109,504

vs national+$109,504 vs $74,755 national

Affordability Ratio

3.4x

Home value ÷ income. <3 = affordable, >5 = expensive.

Rent Burden

27.0%

% of income spent on rent. >30% = burdened.

More Housing Data

Property Tax (Median)

$2,506

Tax as % of Home Value

0.67%

Monthly Owner Cost

$1,581

Renter Income

$65,156

Frequently Asked Questions

What is the median home value in Hanover County?
The median home value in Hanover County is $372,700. This is above the national median of $281,900.
How much is rent in Hanover County?
The median gross rent in Hanover County is $1,496 per month.
What is the property tax rate in Hanover County?
The effective property tax rate in Hanover County is 0.67%. The median annual property tax bill is $2,506.
Is Hanover County affordable?
With a home-value-to-income ratio of 3.4x, Hanover County is moderately affordable compared to the recommended 3-4x guideline.

Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.