Cost of Living in Hanover, NM
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
59.8
100 = national avg
-40.2 vs national average
Living Wage (1 Adult)
$26,324
per year
Living Wage (Family of 4)
$62,220
per year
Cost Index by Category
Housing52.5
Food74.6
Transportation49.2
Healthcare79.7
Utilities75.3
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$801
per month
2 Bedroom
$1,048
per month
The overall cost of living index in Hanover is 59.8, which is 40.2% below the national average. Housing costs are below the national average at an index of 52.5. A single adult needs to earn approximately $26,324 per year to cover basic expenses.