Cost of Living in Hanover Park, IL
Population: 36,850 • 2026 Data
$92,263
Median Household Income
+19% vs national
$1,478
Median Monthly Rent
+10% vs national
$260,900
Median Home Value
-23% vs national
4.5%
Unemployment Rate
Housing in Hanover Park
The median home value in Hanover Park, IL is $260,900. Monthly rent for a typical unit averages $1,478, while total monthly housing costs (including utilities and insurance) average $1,520.
Rent-to-income ratio: 19.2%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Hanover Park, IL is $92,263. The unemployment rate stands at 4.5%, with a labor force of 19,278 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.