Hanover, MD housing market
Typical home value
$530K
▲ 0.1% 1 yr
Typical rent
$2,669/mo
▲ 1.9% 1 yr
Gross rent yield
6.0%
U.S. 6.3%
5-year home value change
+12%
U.S. +20%
Key takeaways
- 1The typical home in Hanover is worth $529,568, up 0.1% over the past year and up 12% over five years.
- 2Typical rent is $2,669 a month (+1.9% YoY), a gross rent yield of 6.0% (above the Baltimore, MD metro's 5.9%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $2,910/mo, $241 more than typical rent.
- 4Zillow forecasts the Baltimore, MD metro's home values to change +0.6% over the next 12 months.
Market temperature (Baltimore, MD metro)
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 41/100, #259 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Hanover compares
| Measure | Hanover | Baltimore, MD metro | United States |
|---|---|---|---|
| Typical home value | $529,568 | $396,959 | $366,157 |
| Home value, 1-yr change | +0.1% | +0.4% | +1.2% |
| Typical rent | $2,669 | $1,937 | $1,932 |
| Rent, 1-yr change | +1.9% | +2.7% | +2.7% |
| Gross rent yield | 6.0% | 5.9% | 6.3% |
| Price-to-rent ratio | 16.5 | 17.1 | 15.8 |
| Mortgage P&I, typical home | $2,910 | $2,181 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Hanover rental, pre-filled.
Rent vs buy in Hanover
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $530K home.
Other cities in the Baltimore, MD metro
Baltimore, MD
$185K home$1,762 rent
▼ 3.7% 1 yr
Columbia, MD
$502K home$2,278 rent
▲ 0.5% 1 yr
Annapolis, MD
$622K home$2,344 rent
▲ 2.4% 1 yr
Glen Burnie, MD
$391K home$1,729 rent
▲ 0.1% 1 yr
Ellicott City, MD
$726K home$2,596 rent
▲ 1.0% 1 yr
Bel Air, MD
$457K home$2,085 rent
▲ 0.9% 1 yr
Dundalk, MD
$218K home$1,460 rent
▼ 1.8% 1 yr
Towson, MD
$471K home$1,871 rent
▲ 2.6% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.