Cost of Living in Hanover, VA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
117.4
100 = national avg
+17.4 vs national average
Living Wage (1 Adult)
$51,655
per year
Living Wage (Family of 4)
$122,094
per year
Cost Index by Category
Housing120.6
Utilities106.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,507
per month
2 Bedroom
$1,655
per month
The overall cost of living index in Hanover is 117.4, which is 17.4% above the national average. Housing costs are above the national average at an index of 120.6. A single adult needs to earn approximately $51,655 per year to cover basic expenses.