Hanover, MA 02339 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Hanover, MA—02339

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$787,000

1.5% YoY Growth

Household Income

$175,000

45.7% YoY Growth

Days on Market

21.0% Longer YoY

Home Price Forecast

1.7%

Median Rent

$2,500

22.8% YoY Growth

1-Bed Rent

$1,880

2.3% YoY Growth

2-Bed Rent

$3,500

45.9% YoY Growth

3-Bed Rent

N/A

Home Price Trends — Hanover, MA

As of Dec '25, the median home price in Hanover, MA is $787,000, with a year-over-year change of 1.5%. This indicates that home prices in Hanover, MA are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$787,000	1.5%
Single Family	$796,000	2.3%
Condos	$730,000	1.7%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Hanover, MA

As of July '25, Rentcast reports the average rent in Hanover, MA is $2,570, with a year-over-year rent change of -22.8%. Per bedroom, the median rent as of July '25 in Hanover, MA is 1-bedrooms: $2,110, 2-bedrooms: $3,180. The most common rental property sizes in Hanover, MA are 1-bedroom and 2-bedroom, accounting for 61.4% and 29.0% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,500	$2,570
Studio Rent	N/A	N/A
1 Bed Rent	$1,880	$2,110
2 Bed Rent	$3,500	$3,180
3 Bed Rent	N/A	N/A
4 Bed Rent	N/A	N/A

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% of Rental Stock

1 Bedroom

61.4%

2 Bedrooms

29.0%

3 Bedrooms

9.5%

Property Listings — Hanover, MA

As of Dec '25, Realtor.com reports that the median days on market for a home in Hanover, MA is 29. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 19.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$1,610,000	87.0%
Listing Count	14	2.0%
Listings as % of Homes	0.2%	2.0%
Days on Market	58	21.0%

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Demographics — Hanover, MA

As of the latest ACS Survey released in 2023, Hanover, MA has a population of 14,800, which has increased by 2.8% over the past 5 years. Hanover, MA is a popular place for families, as children make up 26.6% of the population. The area has a highly educated workforce, with 56.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.1% reporting working from home.

Metric	Latest Census	YoY % Change
Population	14,800	2.8%
% Under 18	26.6%	0.8%
% Seniors	15.6%	-6.6%
% WFH	20.1%	272.2%
% w/ College Degree	56.5%	15.3%

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As of the latest ACS Survey released in 2023, Hanover, MA is a predominantly white area, with 89.6% of the population identifying as white. The white population has shrunk by 7.4% in the last 5 years. The second most common race or ethnicity in Hanover, MA is asian, making up 2.4% of the population. Foreign-born residents account for 4.1% of the population in Hanover, MA, and this percentage has increased by 51.9% 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	89.6%	-7.4%
% Black	0.7%	-12.5%
% Hispanic	0.9%	200.0%
% Asian	2.4%	166.7%
% Foreign Born	4.1%	51.9%

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Mortgage and Risk — Hanover, MA

According to HUD data as of 2023, there were 310 mortgage originations in Hanover, MA, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 43.0%, with 6.0% above 90% LTV (normal). This implies small mortgage risk in Hanover, MA. Investor activity is low, as 1.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	310
% Conventional Loans	97.0%
% Government Loans	3.0%
% Investor Loans	1.0%
% Second Loans	0.0%
% Cash Out Refinance	5.0%

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Rentals and Section 8 — Hanover, MA

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

Section 8 Market Size

Total Units under HUD	257
Total Units Section 8	257
% Rentals under Section 8	39.2%
% Occupied Section 8	97.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$260	$1,880	$2,140
2 Bedroom	-$950	$3,500	$2,550
3 Bedroom	N/A	N/A	$3,080
4 Bedroom	N/A	N/A	$3,390

Hanover, MA—02339

Key Metrics at a Glance

Home Price Trends — Hanover, MA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hanover, MA

% of Rental Stock

Property Listings — Hanover, MA

Demographics — Hanover, MA

Race and Ethnicity

Mortgage and Risk — Hanover, MA

Mortgages

Rentals and Section 8 — Hanover, MA

Section 8 Market Size

Section 8 Opportunity

Affordability — Hanover, MA

Home Price to Income Ratio

Hanover, MA — ZIP Code Boundary Map

Nearby ZIP Codes

Rockland, MA

Norwell, MA

Hanson, MA

Pembroke, MA

Whitman, MA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.9
Median Home Price	$787,000
Median Household Income	$175,000

Hanover, MA—02339

Key Metrics at a Glance

Home Price Trends — Hanover, MA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hanover, MA

% of Rental Stock

Property Listings — Hanover, MA

Demographics — Hanover, MA

Race and Ethnicity

Mortgage and Risk — Hanover, MA

Mortgages

Rentals and Section 8 — Hanover, MA

Section 8 Market Size

Section 8 Opportunity

Affordability — Hanover, MA

Home Price to Income Ratio

Hanover, MA — ZIP Code Boundary Map

Nearby ZIP Codes

Rockland, MA

Norwell, MA

Hanson, MA

Pembroke, MA

Whitman, MA

Frequently Asked Questions

What is the average home price in Hanover, MA 02339?

How have home prices in Hanover, MA 02339 changed over the past year?

What is the home price projection for Hanover, MA 02339?

What are the demographics of Hanover, MA 02339?

How long does it take homes to sell in Hanover, MA 02339?

What is the average rent price in Hanover, MA 02339?