Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$456,445+3.5% YoY · prices are rising fast
Market right nowBalanced, leaning buyersMore homes for sale than last year, 21% have cut their price
Income needed to buy, per year$98,948About 0.8× the local median income ($117,424): affordable for a typical household
Days on market51 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+2.4%Zillow expects prices to rise slightly
The typical home in Hanover County, VA is worth $456,445, up 3.5% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $434,332, so the area is 5.1% overvalued. It is a balanced market, leaning toward buyers: homes take about 51 days to sell, listings are up 15% from a year ago, 21% of listings have had a price cut. Zillow expects prices to rise about 2.4% over the next year. A household needs about $98,948 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $117,424. Typical rent is $2,126 a month, or $2,792 for a house. In the latest IRS figures, 796 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$456,445
Change in 1 year
+3.5%
Overvalued %
+5.1%
Show 7 more
Fair home value
$434,332
Change in 5 years
+28.9%
Zillow forecast, next 12 months
+2.4%
Home value to income
3.9×
Monthly mortgage payment (20% down)
$2,474
Income needed to afford it
$98,948
Property tax rate
0.66%
Rent and investing
Typical rent
$2,126
Typical rent for houses
$2,792
Price-to-rent ratio
17.9×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,651
Gross rental yield
5.59%
Cap rate (estimate)
3.63%
Market activity
Listings vs a year ago
+15.1%
Days on market
51
Listings with a price cut
20.8%
Show 3 more
Homes for sale
321
Pending sales per 100 listings
58
Asking price per sq ft
$240
People and jobs
Median household income
$117,424
Population change (1 year)
+0.8%
Unemployment rate
2.7%
Show 4 more
Population
116,423
Income adjusted for cost of living
$119,943
Net moves in (IRS)
+796
Cost of living (US = 100)
97.9
Schools, risk and environment
School rating (1 to 10)
8.0
FEMA hazard risk score (0 to 100)
53.5
Unhealthy air days a year
0
Show 4 more
Flood risk score
61.5
Wildfire risk score
31.7
Walkability (1 to 20)
6.2
Road, rail and air noise
55 dB
Questions people ask
Is Hanover County, VA overvalued?
Home prices in Hanover County, VA are slightly above what local incomes have historically supported: fair value is about $434,332, so the area is 5.1% overvalued.
Is Hanover County, VA a buyer's or seller's market?
Hanover County, VA is a balanced market, leaning toward buyers: homes take about 51 days to sell, listings are up 15% from a year ago, 21% of listings have had a price cut.
Are home prices going down in Hanover County, VA?
Home values in Hanover County, VA are up 3.5% over the last year. Zillow's forecast for the next 12 months is +2.4%.
How much do you need to earn to buy a home in Hanover County, VA?
A household needs about $98,948 a year to afford the typical home in Hanover County, VA at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $117,424.