salaryRent is higher than in 54% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Most homes (77.5%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $69,400 a year. That is $33 an hour at a full-time job.
Is rent cheaper than other Illinois cities?
No. Rent here is more expensive than in most of Illinois. It is number 217 of 334 cities from cheapest to most expensive.
How much do households earn in Hanover Park?
Share of households by yearly income. 32.1% of households earn $100,000 or more.
Rent by apartment size in Hanover Park
| Size | Hanover Park | U.S. average |
|---|---|---|
| Studio | $1,272 | $1,338 |
| 1 bedroom | $1,458 | $1,324 |
| 2 bedrooms | $1,647 | $1,509 |
| 3 bedrooms | $2,175 | $1,698 |
| 4 bedrooms | $2,755 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Hanover Park overall?
Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Hanover Park, so the Illinois figure is shown.
Taxes and bills in Hanover Park
Life in Hanover Park
Is it cheaper to rent or buy in Hanover Park?
Renting is cheaper right now: about $168 a month less.
Owning assumes a typical $274,200 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $27,420 for the down payment.
Frequently asked questions
What is the average rent in Hanover Park, IL?
Renting in Hanover Park costs a median of about $1,735 a month in 2026, including utilities. The Illinois median is $1,517.
How much do I need to make to live in Hanover Park?
To keep rent under 30% of income, you need about $69,400 a year, or $33 an hour at a full-time job.
Is Hanover Park cheap or expensive?
Hanover Park is rated OK: rent takes 21.0% of the typical household income of $98,966. It ranks 217th cheapest of 334 Illinois cities we track.
How much are property taxes in Hanover Park?
The median homeowner in Hanover Park pays $6,294 a year in property taxes, about 2.30% of the median home value.
Is Hanover Park more expensive than the national average?
Overall prices in Illinois are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Hanover Park?
The median home value in Hanover Park is $274,200, about 2.8 times the typical yearly household income.
36,732 people live in Hanover Park. Numbers are typical (middle) values.