Hanover, NM 88041 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Hanover, NM—88041

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$162,000

13.9% YoY Growth

Household Income

$35,500

8.1% YoY Growth

Days on Market

202

10.0% Longer YoY

Home Price Forecast

-3.0%

Median Rent

$850

N/A

1-Bed Rent

N/A

2-Bed Rent

$850

N/A

3-Bed Rent

N/A

Other Zip Codes in Hanover, NM

88049

Home Price Trends — Hanover, NM

As of Dec '25, the median home price in Hanover, NM is $162,000, with a year-over-year change of -13.9%. This indicates that home prices in Hanover, NM are decreasing. According to Zillow, the 1-year price projection is -3.0%, suggesting a decrease housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$162,000	-13.9%
Single Family	$162,000	-13.8%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Hanover, NM

Hanover, NM lacks sufficient rental market data for analysis.

Type	Median Rent	Average Rent
Average Rent	$850	$850
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	$850	$850
3 Bed Rent	N/A	N/A
4 Bed Rent	N/A	N/A

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% of Rental Stock

3 Bedrooms

100.0%

Property Listings — Hanover, NM

As of Dec '25, Realtor.com reports that the median days on market for a home in Hanover, NM is 186. This is a increase of 13.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$499,000	-19.0%
Listing Count	4	20.0%
Listings as % of Homes	0.7%	20.0%
Days on Market	202	10.0%

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Demographics — Hanover, NM

As of the latest ACS Survey released in 2023, Hanover, NM has a population of 1,350, which has increased by 21.0% over the past 5 years. Hanover, NM is a less popular place for families, as children make up 14.0% of the population. The area has a poorly educated workforce, with 22.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 0.0% reporting working from home.

Metric	Latest Census	YoY % Change
Population	1,350	21.0%
% Under 18	14.0%	105.9%
% Seniors	33.7%	-18.8%
% WFH	0.0%	-100.0%
% w/ College Degree	22.3%	-3.9%

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As of the latest ACS Survey released in 2023, Hanover, NM is a predominantly white area, with 55.6% of the population identifying as white. The white population has grown by 13.5% in the last 5 years. The second most common race or ethnicity in Hanover, NM is hispanic, making up 44.1% of the population. Foreign-born residents account for 0.6% of the population in Hanover, NM, and this percentage has decreased by 71.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	55.6%	13.5%
% Black	0.1%	∞%
% Hispanic	44.1%	-4.8%
% Asian	0.0%	-100.0%
% Foreign Born	0.6%	-71.4%

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Mortgage and Risk — Hanover, NM

Hanover, NM lacks sufficient mortgage origination data for analysis.

Mortgages

Metric	Zip Code Average
Total Loan Originations	N/A
% Conventional Loans	N/A
% Government Loans	N/A
% Investor Loans	N/A
% Second Loans	N/A
% Cash Out Refinance	N/A

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Rentals and Section 8 — Hanover, NM

Hanover, NM lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	3
Total Units Section 8	3
% Rentals under Section 8	N/A
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$750
2 Bedroom	$80	$850	$930
3 Bedroom	N/A	N/A	$1,260
4 Bedroom	N/A	N/A	$1,370

Hanover, NM—88041

Key Metrics at a Glance

Other Zip Codes in Hanover, NM

Home Price Trends — Hanover, NM

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hanover, NM

% of Rental Stock

Property Listings — Hanover, NM

Demographics — Hanover, NM

Race and Ethnicity

Mortgage and Risk — Hanover, NM

Mortgages

Rentals and Section 8 — Hanover, NM

Section 8 Market Size

Section 8 Opportunity

Affordability — Hanover, NM

Home Price to Income Ratio

Hanover, NM — ZIP Code Boundary Map

Nearby ZIP Codes

Bayard, NM

Central

Hurley, NM

Arenas Valley, NM

Hanover, NM

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	5.4
Median Home Price	$162,000
Median Household Income	$35,500

Hanover, NM—88041

Key Metrics at a Glance

Other Zip Codes in Hanover, NM

Home Price Trends — Hanover, NM

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hanover, NM

% of Rental Stock

Property Listings — Hanover, NM

Demographics — Hanover, NM

Race and Ethnicity

Mortgage and Risk — Hanover, NM

Mortgages

Rentals and Section 8 — Hanover, NM

Section 8 Market Size

Section 8 Opportunity

Affordability — Hanover, NM

Home Price to Income Ratio

Hanover, NM — ZIP Code Boundary Map

Nearby ZIP Codes

Bayard, NM

Central

Hurley, NM

Arenas Valley, NM

Hanover, NM

Frequently Asked Questions

What is the average home price in Hanover, NM 88041?

How have home prices in Hanover, NM 88041 changed over the past year?

What is the home price projection for Hanover, NM 88041?

What are the demographics of Hanover, NM 88041?

How long does it take homes to sell in Hanover, NM 88041?

What is the average rent price in Hanover, NM 88041?