Cost of Living in Hanover, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
195.8
100 = national avg
+95.8 vs national average
Living Wage (1 Adult)
$86,163
per year
Living Wage (Family of 4)
$203,659
per year
Cost Index by Category
Housing207.3
Food163.1
Transportation226.2
Healthcare150.5
Utilities159.3
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,405
per month
2 Bedroom
$1,709
per month
The overall cost of living index in Hanover is 195.8, which is 95.8% above the national average. Housing costs are above the national average at an index of 207.3. A single adult needs to earn approximately $86,163 per year to cover basic expenses.