Commercial Real Estate Market in Hanover, OH
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
Hanover, OH spans 112.7 square miles in Licking County, Ohio. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Hanover, OH 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, OH runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Hanover, OH 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, OH runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 44.3%
- Mixed use 26.3%
- Agricultural 2.7%
Largest Zones share of zoned land by district
Special
Residential
Village Residential
High Street
River
Residential (R3)
SECTION 904 RESIDENTIAL (R3) Intent: The intent of the Residential (R3) Zoning District is to facilitate the continued development of Hainesview Estates as a cohesive and vibrant residential community. This district is designed to support a variety of single-family housing styles while maintaining a harmonious neighborhood character. Permitted Uses: 1. Singl…
Market overview
Demographics & Economy
Hanover, OH has 62,590 residents in 27,046 households. Density runs 555 people per square mile. Median household income here is $61,807 and median gross rent $920 a month.
62,590
Population
27,046
Households
2.3
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
112.7 sq mi
ZIP Area
555
Density / Sq Mi
$61,807
Median Household Income
$39,412
Median Earnings
$920
Median Rent
$185,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Marne | — | — |
| Newark | — | $9.67 |
| Nashport | — | — |
| Frazeysburg | — | — |
Methodology & data sources
- 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.
- Zoning and land use
- The current municipal zoning release: 1,181 zoned acres across 6 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- 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
