Hanover, MD 21076 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Hanover, MD—21076

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$529,000

0.4% YoY Growth

Household Income

$143,000

23.5% YoY Growth

Days on Market

58.0% Longer YoY

Home Price Forecast

0.6%

Median Rent

$3,100

6.0% YoY Growth

1-Bed Rent

$1,000

38.1% YoY Growth

2-Bed Rent

$2,500

2.0% YoY Growth

3-Bed Rent

$3,100

0.3% YoY Growth

Home Price Trends — Hanover, MD

As of Dec '25, the median home price in Hanover, MD is $529,000, with a year-over-year change of 0.4%. This indicates that home prices in Hanover, MD are flat. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$529,000	0.4%
Single Family	$535,000	0.2%
Condos	$428,000	0.0%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Hanover, MD

As of July '25, Rentcast reports the average rent in Hanover, MD is $3,000, with a year-over-year rent change of 6.0%. Per bedroom, the median rent as of July '25 in Hanover, MD is 1-bedrooms: $1,330, 2-bedrooms: $2,610, 3-bedrooms: $3,150, 4-bedrooms: $3,360. The most common rental property sizes in Hanover, MD are 2-bedroom and 1-bedroom, accounting for 44.1% and 26.4% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$3,100	$3,000
Studio Rent	N/A	N/A
1 Bed Rent	$1,000	$1,330
2 Bed Rent	$2,500	$2,610
3 Bed Rent	$3,100	$3,150
4 Bed Rent	$3,400	$3,360

Loading chart...

% of Rental Stock

Studio

11.6%

1 Bedroom

26.4%

2 Bedrooms

44.1%

3 Bedrooms

12.4%

4 Bedrooms

5.1%

5+ Bedrooms

0.4%

Property Listings — Hanover, MD

As of Dec '25, Realtor.com reports that the median days on market for a home in Hanover, MD is 54. This is a increase of 44.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$584,000	4.0%
Listing Count	70	16.0%
Listings as % of Homes	0.6%	16.0%
Days on Market	70	58.0%

Loading chart...

Demographics — Hanover, MD

As of the latest ACS Survey released in 2023, Hanover, MD has a population of 23,600, which has increased by 37.4% over the past 5 years. Hanover, MD is a moderately popular place for families, as children make up 20.1% of the population. The area has a highly educated workforce, with 55.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.1% reporting working from home.

Metric	Latest Census	YoY % Change
Population	23,600	37.4%
% Under 18	20.1%	4.1%
% Seniors	10.2%	8.5%
% WFH	19.1%	267.3%
% w/ College Degree	55.1%	1.8%

Loading chart...

As of the latest ACS Survey released in 2023, Hanover, MD is a predominantly white area, with 37.2% of the population identifying as white. The white population has shrunk by 23.5% in the last 5 years. The second most common race or ethnicity in Hanover, MD is black, making up 31.5% of the population. Foreign-born residents account for 19.6% of the population in Hanover, MD, and this percentage has increased by 21.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	37.2%	-23.5%
% Black	31.5%	10.9%
% Hispanic	9.6%	81.1%
% Asian	15.1%	18.9%
% Foreign Born	19.6%	21.7%

Loading chart...

Mortgage and Risk — Hanover, MD

According to HUD data as of 2023, there were 286 mortgage originations in Hanover, MD, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Hanover, MD. Investor activity is low, as 1.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	286
% Conventional Loans	73.0%
% Government Loans	27.0%
% Investor Loans	1.0%
% Second Loans	1.0%
% Cash Out Refinance	13.0%

Loading chart...

Rentals and Section 8 — Hanover, MD

As of 2024, the percent of homes in Hanover, MD under the Section 8 program is 2.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Hanover, MD, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.

Section 8 Market Size

Total Units under HUD	115
Total Units Section 8	115
% Rentals under Section 8	2.7%
% Occupied Section 8	83.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$1,340	$1,000	$2,340
2 Bedroom	$360	$2,500	$2,860
3 Bedroom	$580	$3,100	$3,680
4 Bedroom	$710	$3,400	$4,110

Hanover, MD—21076

Key Metrics at a Glance

Home Price Trends — Hanover, MD

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hanover, MD

% of Rental Stock

Property Listings — Hanover, MD

Demographics — Hanover, MD

Race and Ethnicity

Mortgage and Risk — Hanover, MD

Mortgages

Rentals and Section 8 — Hanover, MD

Section 8 Market Size

Section 8 Opportunity

Affordability — Hanover, MD

Home Price to Income Ratio

Hanover, MD — ZIP Code Boundary Map

Nearby ZIP Codes

Harmans, MD

Elkridge, MD

Severn, MD

Linthicum Heights, MD

Jessup, MD

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.5
Median Home Price	$529,000
Median Household Income	$143,000

Hanover, MD—21076

Key Metrics at a Glance

Home Price Trends — Hanover, MD

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hanover, MD

% of Rental Stock

Property Listings — Hanover, MD

Demographics — Hanover, MD

Race and Ethnicity

Mortgage and Risk — Hanover, MD

Mortgages

Rentals and Section 8 — Hanover, MD

Section 8 Market Size

Section 8 Opportunity

Affordability — Hanover, MD

Home Price to Income Ratio

Hanover, MD — ZIP Code Boundary Map

Nearby ZIP Codes

Harmans, MD

Elkridge, MD

Severn, MD

Linthicum Heights, MD

Jessup, MD

Frequently Asked Questions

What is the average home price in Hanover, MD 21076?

How have home prices in Hanover, MD 21076 changed over the past year?

What is the home price projection for Hanover, MD 21076?

What are the demographics of Hanover, MD 21076?

How long does it take homes to sell in Hanover, MD 21076?

What is the average rent price in Hanover, MD 21076?