Hanover, Minnesota Demographics & Population 2026
During the 2020–2024 ACS period, Hanover, Minnesota had a total population of 3,626, the 192nd largest city in Minnesota, with a median household income of $156,536, which is 76% higher than the state average. The poverty rate is 0.6%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 76% above the state average — one of the wealthiest communities in Minnesota.
- An exceptionally low poverty rate of 0.6% — among the lowest in Minnesota.
- 52.4% of adults hold a bachelor's degree or higher — top 10% in Minnesota.
- Near full employment with an unemployment rate of just 1.3%.
Hanover Quick Facts
How Hanover Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 3,495 | 3,626 | +3.7% |
| Median household income | $147,944 | $156,536 | +5.8% |
| Median home value | $421,700 | $447,900 | +6.2% |
How Hanover Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
A less diverse community where one racial or ethnic group represents a large majority.
State average: 41 | National average: 61
Education
Educational Attainment (Adults 25+)
Hanover Rankings in Minnesota
Explore Minnesota Rankings
Other Cities in Hennepin County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Minneapolis | 427,246 | $80,846 | 16.0% | $362,200 |
| Bloomington | 88,665 | $93,211 | 9.2% | $361,700 |
| Brooklyn Park | 83,876 | $89,891 | 9.5% | $336,200 |
| Plymouth | 79,220 | $136,534 | 4.3% | $491,200 |
| Maple Grove | 71,173 | $132,731 | 4.0% | $418,300 |
| Eden Prairie | 63,051 | $130,489 | 4.6% | $473,900 |
| Edina | 53,262 | $128,767 | 4.7% | $646,300 |
| Minnetonka | 53,064 | $119,517 | 5.9% | $475,800 |
| St. Louis Park | 49,594 | $101,648 | 6.9% | $386,800 |
| Richfield | 36,642 | $85,132 | 8.2% | $344,000 |
Cities Similar to Hanover
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| St. Augusta | 3,625 | $140,227 | $388,400 | 43.6% | 0.0% |
| Grant | 3,950 | $150,875 | $683,400 | 58.3% | 3.7% |
| Independence | 3,694 | $186,597 | $663,400 | 66.7% | 1.1% |
| Deephaven | 3,793 | $197,679 | $935,900 | 83.5% | 1.7% |
| Bayport | 3,905 | $125,893 | $376,900 | 27.5% | 3.7% |
Population Overview
Hanover is a small community located in Minnesota, within Hennepin County. The total population is 3,626. It ranks as the 192nd most populous out of 914 Census-designated places in Minnesota.
Age Demographics
The median age in Hanover is 36.1 years. This is 7% lower than the state median of 38.8 years. With 33.1% of the population under 18, Hanover has a notably young demographic profile, suggesting a family-oriented community.
Economy, Income & Housing
The median household income in Hanover is $156,536. This is 76% higher than the state median of $89,062. It is also 94% higher than the national median of $80,734. The poverty rate stands at 0.6%. This is 94% lower than the state poverty rate of 9.3%. This exceptionally low poverty rate indicates strong economic prosperity across the community. The unemployment rate is 1.3%. This is 69% lower than the state rate of 4.1%. The median home value is $447,900. Housing costs are 36% higher than the state median of $329,300. With a home-value-to-income ratio of just 2.9x, Hanover is one of the most affordable housing markets in the area. 93.0% of occupied housing units are owner-occupied. This homeownership rate is 29% higher than the state average of 72.2%.
Race & Ethnicity
Hanover has a predominantly White (non-Hispanic) population, comprising 89.5% of all residents. Asian residents account for 3.0%. The Hispanic or Latino population (0.9%) is well below the state average of 6.4%.
Education
52.4% of residents aged 25 and older hold a bachelor's degree or higher. This places Hanover in the top 10% of all cities in the state for educational attainment. This is 33% higher than the state rate of 39.4%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 98.8%.
Data Sources & Methodology
All demographic data for Hanover, Minnesota is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against Minnesota state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 914 Census-designated places in Minnesota. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Hanover, Minnesota?
Hanover, Minnesota has a population of 3,626 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Hanover, MN?
The median household income in Hanover is $156,536, which is 94% higher than the national median of $80,734.
What is the poverty rate in Hanover, MN?
The poverty rate in Hanover is 0.6%. This means approximately 21 residents live below the federal poverty line.
What is the racial makeup of Hanover, Minnesota?
Hanover's population is 89.5% White, 0.0% Black, 0.9% Hispanic/Latino, and 3.0% Asian.
What is the median home value in Hanover, MN?
The median home value in Hanover is $447,900. The home-value-to-income ratio is 2.9x.
How educated is Hanover, Minnesota?
52.4% of adults (25+) in Hanover hold a bachelor's degree or higher, and 13.1% hold a graduate or professional degree.