Commercial Real Estate Market in Hanover, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
7 active listings and 234 off-market properties in Hanover, IN.
Market Trends
Hanover, IN spans 33.1 square miles in Jefferson County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Hanover, IN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Hanover, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Hanover, IN runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Hanover, IN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Hanover, IN has 6,037 residents in 2,206 households. Density runs 182 people per square mile. Median household income here is $66,333 and median gross rent $922 a month.
6,037
Population
2,206
Households
2.7
Avg Household Size
32
Median Age
19%
College-Educated
87%
High-School Grad
33.1 sq mi
ZIP Area
182
Density / Sq Mi
$66,333
Median Household Income
$29,433
Median Earnings
$922
Median Rent
$172,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Hanover Beach | — | — |
| Madison | — | $11.56 |
| Milton | — | — |
| Blocher | — | — |
Commercial property in Hanover, IN asks $388/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Hanover?
Commercial property in Hanover, IN asks an average of $388 per square foot.
Methodology & data sources
- Asking prices and averages
- Computed from 7 active for-sale and 0 active for-lease listings in Hanover, IN. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
