Commercial Real Estate Market in Hanover, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
3 active listings and 48 off-market properties in Hanover, MI.
Market Trends
Hanover, MI spans 32.0 square miles in Jackson County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Hanover, MI asks $94/SF to buy. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Retail
Retail space in Hanover, MI asks $105/SF to buy. Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Hanover, MI 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 space in Hanover, MI asks $77/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Hanover, MI has 2,359 residents in 915 households. Density runs 74 people per square mile. Median household income here is $81,471 and median gross rent $1,031 a month.
2,359
Population
915
Households
2.6
Avg Household Size
40
Median Age
25%
College-Educated
92%
High-School Grad
32 sq mi
ZIP Area
74
Density / Sq Mi
$81,471
Median Household Income
$37,245
Median Earnings
$1,031
Median Rent
$223,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Horton | — | — |
| Moscow | — | — |
| Mosherville | — | — |
| Spring Arbor | — | $11.30 |
Commercial property in Hanover, MI asks $236/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Hanover?
Commercial property in Hanover, MI asks an average of $236 per square foot. Retail carries the highest asking price at $105/SF.
Methodology & data sources
- Asking prices and averages
- Computed from 3 active for-sale and 0 active for-lease listings in Hanover, MI. 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
