Hanover, NM—88049
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 $232,000, with a year-over-year change of -4.7%. This indicates that home prices in Hanover, NM are decreasing. According to Zillow, the 1-year price projection is -3.1%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $232,000 | -4.7% |
| Single Family | $232,000 | -5.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $251,000 | 0.0% |
3 Bed | $317,000 | -2.5% |
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 | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
No data available
Property Listings — Hanover, NM
As of Oct '25, Realtor.com reports that the median days on market for a home in Hanover, NM is 79. This is a increase of 5.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $360,000 | 18.0% |
Listing Count | 12 | -8.0% |
| Listings as % of Homes | 0.2% | -8.0% |
Days on Market | 79 | 5.0% |
Demographics — Hanover, NM
As of the latest ACS Survey released in 2023, Hanover, NM has a population of 586, which has increased by 64.1% over the past 5 years. Hanover, NM is a less popular place for families, as children make up 0.0% of the population. The area has a highly educated workforce, with 64.8% 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 | 586 | 64.1% |
% Under 18 | 0.0% | N/A |
% Seniors | 66.6% | 91.9% |
% WFH | 0.0% | N/A |
% w/ College Degree | 64.8% | 312.7% |
Hanover, NM lacks sufficient race and ethnicity data for analysis.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 77.3% | 1.4% |
% Black | 0.0% | N/A |
% Hispanic | 22.7% | 22.7% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.0% | N/A |
Mortgage and Risk — Hanover, NM
According to HUD data as of 2023, there were 41 mortgage originations in Hanover, NM, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 44.0% above 90% LTV (very high). This implies large mortgage risk in Hanover, NM. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 41 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 2.0% |
% Second Loans | 7.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
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 | N/A | N/A | $930 |
| 3 Bedroom | N/A | N/A | $1,240 |
| 4 Bedroom | N/A | N/A | $1,280 |
Affordability — Hanover, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $232,000 |
| Median Household Income | $46,700 |