Hanover, IN housing market
The median sale price was $186,000 in May 2026.
Home values, sales, trends and how Hanover compares with the towns next door — updated as new data is published.
Hanover at a glance
Only 3 sales in May 2026: in a market this size, monthly medians swing a lot, so the typical value above is the steadier guide.
Home prices up 60% in 5 years
The federal house price index for the ZIP code around Hanover rose 60% over the past 5 years, faster than across Indiana (53%). Last year prices rose 5.8%. Carrying the Census median home value forward with that index puts the typical Hanover home at roughly $245,000 today.
Show as a table
| Year | Change that year | Since 2000 | Indiana since 2000 |
|---|---|---|---|
| 2025 | +5.8% | +149% | +126% |
| 2024 | +9.7% | +135% | +117% |
| 2023 | +2.7% | +115% | +106% |
| 2022 | +19% | +109% | +90% |
| 2021 | +13% | +76% | +65% |
| 2020 | +2.2% | +56% | +48% |
| 2019 | +8.1% | +52% | +42% |
| 2018 | 0% | +41% | +34% |
| 2017 | +12% | +41% | +26% |
| 2016 | −0.4% | +26% | +20% |
| 2015 | +2.1% | +27% | +16% |
| 2014 | +2.4% | +24% | +13% |
| 2013 | −0.7% | +21% | +10% |
| 2012 | −2.8% | +22% | +9% |
| 2011 | −0.2% | +25% | +9.6% |
| 2010 | +0.3% | +26% | +12% |
| 2009 | −6% | +25% | +14% |
| 2008 | +7% | +33% | +17% |
| 2007 | −2.6% | +25% | +18% |
| 2006 | +5.2% | +28% | +16% |
| 2005 | +5.5% | +22% | +14% |
| 2004 | +2.7% | +15% | +10% |
| 2003 | +0.6% | +12% | +7.8% |
| 2002 | +3.4% | +12% | +6.3% |
| 2001 | +7.9% | +7.9% | +4.3% |
| 2000 | — | — | — |
How Hanover ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP code 47243, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
17 new homes permitted in 2025
Builders were permitted 17 new homes in Hanover in 2025, all single-family houses, worth about $3.3 million to build. That's 4.8 per 1,000 residents, slower than across Indiana (6). Over the past 10 years, Hanover has permitted 111 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Hanover gained 197 residents while 26 new homes were permitted: about 7.6 new residents per new home. Population grew faster than building, so existing homes filled up: a sign of tight supply. Across Indiana: 1.7 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 13 | 13 | 0 | $1.9 million |
| 2025 | 17 | 17 | 0 | $3.3 million |
| 2024 | 14 | 14 | 0 | $2.5 million |
| 2023 | 17 | 17 | 0 | $3.1 million |
| 2022 | 16 | 16 | 0 | $2.6 million |
| 2021 | 27 | 25 | 2 | $6.4 million |
| 2020 | 8 | 8 | 0 | $1.6 million |
| 2019 | 7 | 7 | 0 | $1.4 million |
| 2018 | 5 | 3 | 2 | $610,000 |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 1 | 1 | 0 | $250,000 |
| 2013 | 4 | 4 | 0 | $875,000 |
| 2012 | 3 | 3 | 0 | $225,000 |
| 2011 | 1 | 1 | 0 | $300,000 |
| 2010 | 5 | 5 | 0 | $661,000 |
| 2009 | 14 | 14 | 0 | $2.3 million |
| 2008 | 9 | 9 | 0 | $1.5 million |
| 2007 | 1 | 1 | 0 | $110,000 |
| 2006 | 34 | 34 | 0 | $4.3 million |
| 2005 | 15 | 15 | 0 | $1.9 million |
| 2004 | 18 | 18 | 0 | $2.3 million |
| 2003 | 12 | 12 | 0 | $1.4 million |
| 2002 | 11 | 11 | 0 | $1.3 million |
| 2001 | 12 | 12 | 0 | $1.5 million |
| 2000 | 12 | 12 | 0 | $1.5 million |
How Hanover ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
2.6 years of income
The typical Hanover home costs about 2.6 years of the town's median household income, less than across Indiana (3.6 years).
How Hanover ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,070
HUD's Fair Market Rent for a two-bedroom in Hanover is $1,070 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Hanover pay a median of $900, so moving in tends to cost more than staying put. A two-bedroom takes about 24% of the town's median household income.
Studio $800 · 4 bedrooms $1,650
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (47243; Louisville, KY-IN HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.