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Hanover, MI Profile: Facts & Data

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Hanover, Michigan - Basic Facts

The Village of Hanover had a population of 441 as of July 1, 2020. Hanover ranks in the lower quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Michigan. See peer rankings below.

The primary coordinate point for Hanover is located at latitude 42.1012 and longitude -84.5519 in Jackson County. The formal boundaries for the Village of Hanover encompass a land area of 0.42 sq. miles and a water area of 0.02 sq. miles. Jackson County is in the Eastern time zone (GMT -5). The elevation is 1,115 feet.

The Village of Hanover (GNIS ID: 2398243) 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 Village of Hanover is located within Township of Hanover, a minor civil division (MCD) of Jackson County.


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Hanover, MI Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 441 (100%)
Population in Households 441 (100.0%)
Population in Families 367 (83.2%)
Population in Group Quarters1 0
Population Density 1,050
Diversity Index2 12
 
 

INCOME

Median Household Income $47,976
Average Household Income $65,605
% of Income for Mortgage4 12%
Per Capita Income $25,211
Wealth Index5 72
 

HOUSING

Total HU (Housing Units) 188 (100%)
Owner Occupied HU 138 (73.4%)
Renter Occupied HU 28 (14.9%)
Vacant Housing Units 21 (11.2%)
Median Home Value $136,000
Average Home Value $158,877
Housing Affordability Index3 205
 

HOUSEHOLDS

Total Households 167
Average Household Size 2.64
Family Households 120
Average Family Size 3
NOTES
  1. 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.
  2. 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.
  3. 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.
  4. 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).
  5. 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

 2010-2020 2020-2025
Population 0.0% 0.05%
Households 0.18% 0.0%
Families 0.25% 0.0%
Median Household Income   0.0%
Per Capita Income   0.75%
Owner Occupied HU   0.14%

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Hanover, MI - Peer Comparisons by Rank and Percentile

The table below compares Hanover to the other 692 incorporated cities, towns and CDPs in Michigan by rank and percentile using July 1, 2020 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 # 557 20th
Population Density # 307 56th
Median Household Income # 436 37th
Housing Affordability Index # 292 42nd
Per Capita Income # 403 42nd
Diversity Index # 515 25th

Additional comparisons and rankings can be made with a VERY EASY TO USE Michigan Census Data Comparison Tool.

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