Hanover, IN Profile: Facts & Data

Hanover, Indiana - Basic Facts

The Town of Hanover had a population of 3,604 as of July 1, 2021.

The primary coordinate point for Hanover is located at latitude 38.7142 and longitude -85.4736 in Jefferson County. The formal boundaries for the Town of Hanover encompass a land area of 2.31 sq. miles and a water area of 0 sq. miles. Jefferson County is in the Eastern time zone (GMT -5). The elevation is 784 feet.

The Town of Hanover has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Town of Hanover is located within Township of Hanover, a minor civil division (MCD) of Jefferson County.

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Hanover, IN Data & Demographics (As of July 1, 2021)

POPULATION
Total Population	3,604 (100%)
Population in Households	2,742 (76.1%)
Population in Families	2,126 (59.0%)
Population in Group Quarters¹	862 (23.9%)
Population Density	1,622
Diversity Index²	18


INCOME
Median Household Income	$48,943
Average Household Income	$58,789
% of Income for Mortgage⁴	10%
Per Capita Income	$19,573
Wealth Index⁵	46

HOUSING
Total HU (Housing Units)	1,275 (100%)
Owner Occupied HU	689 (54.0%)
Renter Occupied HU	404 (31.7%)
Vacant Housing Units	182 (14.3%)
Median Home Value	$121,123
Average Home Value	$140,516
Housing Affordability Index³	245

HOUSEHOLDS
Total Households	1,093
Average Household Size	2.51
Family Households	695
Average Family Size	3

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR	2010-2021	2021-2026
Population	0.18%	0.04%
Households	0.2%	0.15%
Families	0.18%	0.03%
Median Household Income		0.61%
Per Capita Income		1.35%
Owner Occupied HU		0.37%

GROWTH RATE / YEAR

2010-2021

2021-2026

Population

0.18%

0.04%

Households

0.2%

0.15%

Families

0.18%

0.03%

Median Household Income

0.61%

Per Capita Income

1.35%

Owner Occupied HU

0.37%

Hanover, IN - Peer Comparisons by Rank and Percentile

The table below compares Hanover to the other 679 incorporated cities, towns and CDPs in Indiana by rank and percentile using July 1, 2021 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description	Rank	Percentile
Total Population	# 160	76th
Population Density	# 223	67th
Median Household Income	# 505	26th
Housing Affordability Index	# 366	54th
Per Capita Income	# 652	4th
Diversity Index	# 204	70th

Variable Description

Rank

Percentile

Total Population

# 160

76th

Population Density

# 223

67th

Median Household Income

# 505

26th

Housing Affordability Index

# 366

54th

Per Capita Income

# 652

4th

Diversity Index

# 204

70th

Indiana Census Data Comparison Tool

Hanover, IN Profile: Facts & Data

Hanover, Indiana - Basic Facts

Hanover, IN Data & Demographics (As of July 1, 2021)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Hanover, IN - Peer Comparisons by Rank and Percentile

Hanover, IN - Most Popular Things to Do

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