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Real Estate Prices & Overview

Hanover median real estate price is $428,351, which is more expensive than 68.7% of the neighborhoods in Minnesota and 58.0% of the neighborhoods in the U.S.

The average rental price in Hanover is currently $1,575, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 61.1% of Minnesota neighborhoods.

Hanover is a suburban neighborhood (based on population density) located in St. Michael, Minnesota.

Hanover real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Hanover neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Hanover are 4.3%, which is lower than one will find in 71.5% of American neighborhoods. Demand for real estate in Hanover is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in St. Michael, the Hanover neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

The Hanover neighborhood is a great option for families, as revealed by NeighborhoodScout's research on this neighborhood. The combination of top public schools, low crime rates, and owner-occupied single family homes, make this neighborhood among the top 5.7% of family-friendly neighborhoods in the state of Minnesota. Many other families also live here, making it easy to socialize and develop a sense of community. In addition, families here highly value education, as is reflected by the strength of the local schools. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for urban sophisticates, highly educated executives and college students.

Diversity

Did you know that the Hanover neighborhood has more Danish and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.6% of this neighborhood's residents have Danish ancestry and 18.3% have Norwegian ancestry.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Hanover neighborhood in St. Michael are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 89.4% of the neighborhoods in America. In addition, 3.5% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 69.6% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Hanover neighborhood, 65.6% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 14.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (13.9%), and 5.8% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Hanover neighborhood is English, spoken by 97.3% of households. Some people also speak Spanish (2.3%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Hanover neighborhood in St. Michael, MN, residents most commonly identify their ethnicity or ancestry as German (38.0%). There are also a number of people of Norwegian ancestry (18.3%), and residents who report French roots (9.9%), and some of the residents are also of Irish ancestry (9.1%), along with some English ancestry residents (6.1%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Hanover neighborhood spend between 30 and 45 minutes commuting one-way to work (28.5% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (84.6%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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