1st Advantage MortgageHanover County households have a median income of $112,805 and median rent of $1,591 a month (ACS 2020 to 2024). Your income, debts and credit decide what you qualify for. Get offers in writing, compare the total repaid, and never pay a fee up front.
On this page
- Hanover County, VA: the basics
- Renting and owning in Hanover County
- Income in Hanover County compared with Virginia
- Jobs and commutes in Hanover County
- Regional comparison for Hanover County
- Cities, towns and CDPs in Hanover County
- Debt-to-income at Hanover County's medians
- Hanover County residents: age, schooling, coverage
- Local borrowing considerations for Hanover County
- Checklist for Hanover County applicants
- Virginia rules that apply in Hanover County
- Nearby and statewide guides
- Frequently asked questions
Hanover County, VA: the basics
The latest five-year Census estimate puts Hanover County's population at 112,879; only 16 of Virginia's 133 county-level areas are larger. It covers 468 square miles of land, or about 241 people per square mile. For statistical purposes it belongs to the Richmond, VA metro area, as delineated by the Office of Management and Budget in July 2023. Of the 3 Census places inside Hanover County, Mechanicsville leads by population with about 38,683; 1 of the 3 are incorporated.
Renting and owning in Hanover County
Median gross rent, utilities included, comes to $1,591 in Hanover County versus $1,579 statewide. Rent takes 30% or more of income for 44% of renter households here. With a median value of $400,400, a typical Hanover County house costs 3.5 times what the median household earns in a year. 82% of Hanover County households own their home and 18% rent. Half the housing stock was built before 1991.
| Housing | Hanover County | Virginia statewide | Typical U.S. county |
|---|---|---|---|
| Median gross rent | $1,591/mo | $1,579/mo | $877/mo |
| Median home value | $400,400 | $383,700 | $185,300 |
| Owners | 82% | 67% | 75% |
| Rent-burdened renters | 44% | 49% | 45% |
| Burdened owners | 20% | 25% | n/a |
| Vacant units | 4% | 9% | n/a |
Owners with equity have a second option. Weigh a secured line against an unsecured loan by risk as well as cost before you choose (how they compare).
Income in Hanover County compared with Virginia
At $112,805, the typical Hanover County household income is 72% above the median U.S. county ($65,681). In the state ranking that is 16th of 133.
| Income band | Share in Hanover County | Difference from Virginia |
|---|---|---|
| Under $35,000 | 12.4% | -5.4 pts |
| $35,000 to $99,999 | 31.7% | -3.6 pts |
| $100,000 to $199,999 | 36.6% | +7.4 pts |
| $200,000 or more | 19.3% | +1.6 pts |
The spread is wide: 56% of Hanover County households make $100,000 or more, and 12% make less than $35,000. The poverty rate is 5.7%, 4 points lower than the state's 9.9%. If your income is irregular, as it often is with tips, gig work or seasonal jobs, plan around your leaner months rather than the Hanover County median.
Jobs and commutes in Hanover County
By the Census industry count, 24% of employed Hanover County residents work in education and health care and 14% in professional and administrative services. Compared with Virginia, the county leans toward finance, insurance and real estate (10% against 7%). The survey's unemployment rate for Hanover County averages 2.7% over 2020 to 2024 (state: 4.3%). Long commutes are the exception here: 12% of workers spend 45 minutes or longer getting to work.
| Industry | Share of Hanover County workers | vs Virginia |
|---|---|---|
| Education and health care | 23.6% | +1.3 pts |
| Professional and administrative services | 13.6% | -3.2 pts |
| Retail trade | 10.2% | +0.4 pts |
| Finance, insurance and real estate | 9.6% | +3.1 pts |
| Construction | 8.4% | +1.9 pts |
| Manufacturing | 6.8% | -0.2 pts |
If your hours swing with the season or with overtime, size a loan payment against your base pay, not your best month.
Regional comparison for Hanover County
Six nearby counties, 16 to 27 miles away by the straight-line distance between their centers. 1 of the six report a higher median household income than Hanover County; Goochland County is highest at $118,931 and Richmond city lowest at $64,587.
| County | Distance | Median income | Median rent | Owners |
|---|---|---|---|---|
| Hanover County | - | $112,805 | $1,591/mo | 82% |
| Richmond city, VA | 16 mi | $64,587 | $1,372/mo | 44% |
| Caroline County, VA | 20 mi | $87,407 | $1,293/mo | 82% |
| King William County, VA | 22 mi | $86,056 | $1,166/mo | 89% |
| Goochland County, VA | 23 mi | $118,931 | $1,614/mo | 85% |
| Henrico County, VA | 25 mi | $88,783 | $1,541/mo | 64% |
| Chesterfield County, VA | 27 mi | $101,931 | $1,629/mo | 77% |
Cities, towns and CDPs in Hanover County
Here are the 3 most populous of the county's 3 Census places, with income and rent from the same 2020 to 2024 survey. About 41% of Hanover County residents live in one of the 3. No Hanover County place has a separate guide yet; this county page serves all 3.
| Name | Kind | Pop. | Income | Rent | Miles |
|---|---|---|---|---|---|
| Mechanicsville | CDP | 38,683 | $98,595 | $1,724 | 12 mi |
| Ashland | town | 7,772 | $61,164 | $1,229 | 1 mi |
| Hanover | CDP | 33 | n/a | n/a | 6 mi |
Debt-to-income at Hanover County's medians
How much room does a median Hanover County budget have? Take median income, subtract median rent, and check what is left under a few common debt-to-income limits.
- Median income divided by twelve: $9,400 before taxes
- Rent at the median, $1,591, takes 17% of that
- Under a 36% cap, $3,384 total minus rent leaves $1,793
- At 43%, room after rent is $2,451 a month
If your rent is above $1,591, the room shrinks dollar for dollar.
Hanover County residents: age, schooling, coverage
College graduates make up 43% of the adult population. About 4% go without health insurance.
| Hanover County | Virginia | U.S. county median | |
|---|---|---|---|
| Median age | 42.7 | 39.0 | 41.5 |
| Bachelor's or higher | 42.7% | 42.2% | 22.2% |
| No high school diploma | 5.5% | 8.4% | n/a |
| No health insurance | 4.4% | 6.9% | 7.8% |
| No vehicle | 3.0% | 6.1% | 5.4% |
| Work from home | 19.1% | 18.3% | 8.7% |
| Poverty rate | 5.7% | 9.9% | 13.2% |
| Unemployment (ACS) | 2.7% | 4.3% | 4.4% |
| Commute length | Hanover County |
|---|---|
| Under 15 min | 18.2% |
| 15 to 29 min | 44.4% |
| 30 to 44 min | 25.4% |
| 45 to 59 min | 6.5% |
| 60+ min | 5.5% |
Local borrowing considerations for Hanover County
What the Hanover County figures suggest, and what to check first:
- Consolidation math. With 56% at six figures, card consolidation is common; it pays only if total cost falls (guide).
- Advance-fee offers. No legitimate lender asks a Hanover County borrower to pay first (scam signs).
- Debt consolidation. One fixed payment can save money only if the written APR and fees beat what you pay now (guide).
Checklist for Hanover County applicants
A short checklist for Hanover County borrowers:
- Price the Hanover County expense first and borrow that amount, no more.
- Line up offers side by side: APR, fees in dollars, total cost.
- A Virginia license check takes minutes; do it first.
- Confirm the first due date before setting up autopay.
Virginia rules that apply in Hanover County
The Virginia Bureau of Financial Institutions is the place to verify any lender's Virginia license. Problems with a lender can also go to the CFPB. See the Virginia state guide for the statewide picture.
Nearby and statewide guides
The Virginia guide covers the whole state.
Frequently asked questions
What is the median household income in Hanover County?
$112,805 a year in the 2020 to 2024 Census survey, versus $93,170 for Virginia. It ranks 16th of 133 in the state.
How does Hanover County rent compare with Virginia?
$1,591 locally, close to the state figure.
Which towns does the Hanover County guide cover?
Every community in the county, unincorporated areas included. The largest of its 3 Census places: Mechanicsville, Ashland, Hanover.
Is the fit check different in Hanover County?
No. It is identical everywhere, and it never looks at your neighborhood.
Is there a Hanover County office that licenses lenders?
No, licensing is statewide. In Virginia it is the Virginia Bureau of Financial Institutions.