Hanover County, Virginia
Income Data
U.S. Census Bureau ACSAt a Glance
Economic Indicators
How Hanover County Compares
Detailed Income Statistics
Income Advisory: Hanover County
Income Verdict
Hanover County has a median household income of $109,504 and per capita income of $51,509 — a gap of $57,995, suggesting a typical mix of dual-income and single-earner households.
Housing Affordability
With median gross rent at $1,496/month and a median household income of $109,504, rent consumes approximately 16.4% of monthly income — well within affordable thresholds.
Economic Context
The median household income of $109,504 places Hanover County in a high-earning tier, supporting strong purchasing power and above-average consumer spending. Per capita income of $51,509 reflects a relatively affluent population with substantial individual earning capacity.
Neighbor Context
Hanover County earns approximately 46.1% above the Virginia state median household income of $74,957, positioning it favorably within the state.
Data Story
About Household Income in Hanover County, Virginia
Hanover's income outpaces the nation
Hanover County's median household income of $109,504 towers 46% above the national median of $74,755. This places Hanover among the wealthiest counties in America, reflecting its proximity to Richmond's prosperous suburbs and established professional workforce.
Top earners in Virginia
Hanover ranks among Virginia's highest-income counties, significantly exceeding the state median of $74,957 by $34,547. The county's per capita income of $51,509 also runs 31% higher than Virginia's state average of $39,155.
Outearning surrounding counties
Hanover's $109,504 median household income beats nearby Henrico County ($86,397) and James City County ($107,046), making it a premier destination for high-earning households. The county's prosperity reflects its blend of suburban communities, corporate headquarters, and educated workforce.
Strong income supports local costs
A rent-to-income ratio of 16.4% shows Hanover households spend a manageable share of income on housing, well below the 30% threshold for affordability. With median home values at $372,700 and strong household incomes, residents have solid purchasing power for homeownership.
Build on Hanover's prosperity
With median household incomes exceeding $109,000, Hanover residents are positioned to invest beyond basic expenses—consider diversifying into retirement accounts, real estate, and market investments. Working with a financial advisor can help maximize wealth-building strategies suited to the county's affluent demographic.
Frequently Asked Questions
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How does Hanover County rank for income in Virginia?
Income Comparison Calculator
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County median: $109,504 per year
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vs. State Average
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vs. National Median
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Income Adequacy
Your monthly income ($9,125) vs. median rent ($1,496/mo). A ratio of 3.3x or higher means rent is under 30% of income.
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Compare RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.