Cost of Living in Hanover
The biggest cost-of-living factor in Hanover, Massachusetts is housing. The median home is priced around $1.22M, or about $400 per square foot.
With 20% down on a median-priced home, the estimated monthly mortgage payment (principal and interest) is about $6,343, plus roughly $1,258 per month in property taxes. Rates and down payment change this figure significantly.
Hanover's FY2025 residential property tax rate is $12.35 per $1,000 of assessed value. Combined with home prices, that gives a clear picture of the monthly cost of owning in Hanover.