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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 467 as of July 1, 2024.

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 Village 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 Village of Hanover is located within Township of Hanover, a minor civil division (MCD) of Jackson County.


Jump to... (On This Page!)
  1. Hanover 2024 Demographic Data
  2. Growth Rates for Hanover (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Michigan Research Tools (Easy Tools & Current Data)
  3. Michigan Data Comparison Tool - 2024 Demographics
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Hanover, MI Data & Demographics (As of July 1, 2024)

POPULATION

Total Population 467 (100%)
Population in Households 467 (100.0%)
Population in Families 387 (82.9%)
Population in Group Quarters1 0
Population Density 1,112
Diversity Index2 21
 
 

INCOME

Median Household Income $98,170
Average Household Income $95,576
% of Income for Mortgage4 17%
Per Capita Income $32,131
Wealth Index5 71
Socioeconomic Status Index6 Moderate (59.8)
 

HOUSING

Total HU (Housing Units) 180 (100%)
Owner Occupied HU 129 (71.7%)
Renter Occupied HU 28 (15.6%)
Vacant Housing Units 23 (12.8%)
Median Home Value $263,081
Average Home Value $241,085
Housing Affordability Index3 141
 

HOUSEHOLDS

Total Households 157
Average Household Size 2.97
Family Households 106
Average Family Size 4.00
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.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

 2020-2024 2024-2029
Population -0.25% -0.04%
Households -0.15% 0.50%
Families   1.29%
Median Household Income   0.91%
Per Capita Income   3.06%
Owner Occupied HU   0.61%

Hanover, MI - Peer Comparisons by Rank and Percentile

The table below compares Hanover to the other 745 incorporated cities, towns and CDPs in Michigan by rank and percentile using July 1, 2024 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 # 559 25th
Population Density # 298 60th
Median Household Income # 66 91st
Housing Affordability Index # 529 71st
Per Capita Income # 481 36th
Diversity Index # 464 38th

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

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