Hanover, NM—88041
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Hanover, NM
Home Price Trends — Hanover, NM
As of Oct '25, the median home price in Hanover, NM is $156,000, with a year-over-year change of -13.3%. This indicates that home prices in Hanover, NM are decreasing. According to Zillow, the 1-year price projection is -4.4%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $156,000 | -13.3% |
| Single Family | $156,000 | -13.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $137,000 | -8.7% |
3 Bed | $252,000 | -6.0% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Hanover, NM
As of Oct '25, Realtor.com reports that the median days on market for a home in Hanover, NM is 161. This is a increase of 21.0% 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 | $454,000 | -8.0% |
Listing Count | 4 | -8.0% |
| Listings as % of Homes | 0.7% | -8.0% |
Days on Market | 161 | 21.0% |
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% |
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% |
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 |
Loan Activity
No data available
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 |
Affordability — Hanover, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.1 |
| Median Home Price | $156,000 |
| Median Household Income | $35,500 |