Commercial Real Estate Market in Hanover, PA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
132 active listings and 1,511 off-market properties in Hanover, PA. Commercial property asks $57/SF to buy and $13.50/SF/Yr to lease.
Market Trends
Hanover, PA spans 74.4 square miles in York County, Pennsylvania. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Hanover, PA runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Hanover, PA runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Hanover, PA runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Hanover, PA asks $86/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 33.5%
- Commercial 26.9%
- Planned_development 17.2%
- Industrial 11.8%
- Mixed use 10.7%
Largest Zones share of zoned land by district
Higher Density Residential
Lower Density Residential
Planned Development District
Medium Density Residential
Manufacturing
Hanover, PA zones 2,370 acres across 9 districts. Commercial zoning covers 26.9% of zoned land, residential 33.5% and industrial 11.8%. The largest single district is Higher Density Residential at 23%. For commercial buyers the practical constraint is that only 38.7% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Hanover, PA has 55,458 residents in 23,528 households. Density runs 745 people per square mile. Median household income here is $76,661 and median gross rent $1,127 a month.
55,458
Population
23,528
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
90%
High-School Grad
74.4 sq mi
ZIP Area
745
Density / Sq Mi
$76,661
Median Household Income
$45,168
Median Earnings
$1,127
Median Rent
$228,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| McSherrystown | — | — |
| New Oxford | — | — |
| Abbottstown | — | — |
| Littlestown | — | — |
Commercial property in Hanover, PA asks $57/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Hanover?
Commercial property in Hanover, PA asks an average of $57 per square foot. The 3 most recent recorded sales traded at a median of $45/SF, so asking sits 26% above the achieved median. Multifamily carries the highest asking price at $86/SF.
How much does it cost to lease commercial space in Hanover?
Asking lease rates in Hanover, PA average $13.50 per square foot per year.
What zoning applies to commercial property in Hanover?
Hanover, PA zones 2,370 acres across 9 districts, of which 26.9% is commercial and 11.8% industrial. The largest single district is Higher Density Residential at 23% of zoned land. Residential zoning covers 33.5% and open space 0%.
Where does Realmo's Hanover market data come from?
Realmo compiles Hanover, PA figures from 3 recent recorded sales, 80 active sale listings, 52 active lease listings, 1,511 tracked off-market properties, the current Hanover zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 80 active for-sale and 52 active for-lease listings in Hanover, PA. 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.
- Zoning and land use
- The current municipal zoning release: 2,370 zoned acres across 9 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 Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast 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
