HomeMinnesotaWright CountyHanover city
Hanover city, Minnesota: commercial real estate data.
Hanover city is a Census city of 3,626 people across 5.49 square miles of land, lying across Wright County and Hennepin County. Median household income is $156,536, 93.0 percent of occupied homes are owned, and the SBA record carries 6 7(a) approvals to borrowers here worth $1.8 m.
77 sourced place values · tier FULL · 8 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Hanover
What Hanover is
- Census place typecity
- Land area5.49 sq mi
- Water area0.16 sq mi
- Population per square mile of land661
- County holding the largest share of its areaWright County, 62.4 percent
- Counties this place lies inWright County 62.4 percent, Hennepin County 37.6 percent
Hanover city crosses a county line. The split above is measured from the Census boundary of the place against the county boundaries, by area, so it says where the ground is and not where the town hall is.
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Hanover
How many people live in Hanover
- Population3,626
- Median age36.1
- Population under 181,202
- Share under 1833.1 percent
- Population 65 and over287 plus or minus 85
- Share 65 and over7.9 percent plus or minus 2.3
- Households1,169
- Family households986
- Share of households that are families84.3 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Hanover
Income and work in Hanover
- Median household income$156,536
- Per capita income$54,528
- Civilian labor force2,059
- Employed2,033
- Unemployed26 plus or minus 20
- Unemployment rate1.3 percent plus or minus 1.0
- Adults 25 and over2,235
- Adults 25 and over with a high school diploma or higher98.8 percent
- Adults 25 and over with a bachelor degree or higher52.4 percent
- Adults 25 and over with a graduate degree13.1 percent plus or minus 3.8
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Hanover
Housing in Hanover
- Housing units1,200
- Occupied units1,169
- Vacant units31 plus or minus 37
- Vacancy rate2.6 percent plus or minus 3.1
- Owner occupied1,087
- Renter occupied82 plus or minus 63
- Ownership rate93.0 percent
- Median owner-occupied home value$447,900
- Median gross rent, monthly$1,853 plus or minus $1,260
- Annual rent as a share of median income14.2 percent plus or minus 9.7
- Single family units1,180
- Share single family98.3 percent
- Units in buildings of two or more20 plus or minus 20
- Share in buildings of two or more1.7 percent plus or minus 1.6
- Mobile homes0
- Median year structure built2003
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Hanover
How Hanover gets to work
- Workers 16 and over who commute1,463
- Commuting under 15 minutes204 plus or minus 69
- Share commuting under 15 minutes13.9 percent plus or minus 4.4
- Commuting 30 minutes or more737
- Share commuting 30 minutes or more50.4 percent
- Drove alone69.4 percent
- Carpooled2.0 percent plus or minus 1.3
- Public transport0.1 percent plus or minus 0.3
- Walked0.0 percent
- Worked from home27.4 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Hanover
SBA loans in Hanover (7(a))
- Approvals6
- Gross approval$1,753,000
- Average approval$292,167
- Median approval$75,000
- Ninetieth percentile approval$1,250,000
- Largest approval$1,250,000
- Jobs supported51
- Jobs per approval8.5
- Loans with a final outcome2
- Paid in full2
- Charged off0
- Median term120 months
- Share on real estate terms of 20 years or more0.0 percent
- Share to franchises0.0 percent
- Distinct lenders4
- Distinct industries by NAICS5
A charge-off rate is not published here. only 2 resolved loans, too few to publish a rate, and a rate over that few outcomes would move several points on one loan.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Hanover
SBA loans in Hanover (504)
- Approvals4
- Gross approval$1,929,000
- Average approval$482,250
- Median approval$380,000
- Largest approval$1,007,000
- Jobs supported30
- Loans with a final outcome1
- Charged off0
- Median term240 months
- Distinct CDCs2
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Wright County, not Hanover
Wright County context, not Hanover figures
These are Wright County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Hanover measurements.
- Establishments in Wright County3,680
- Employment at those establishments, Wright County42,944
- Covered employment, Wright County48,758
- Average annual pay, Wright County$55,999
- Average weekly wage, Wright County$1,077
- Housing units permitted, Wright County1,264
- Of those, single family, Wright County1,032
- County product, 2024, Wright County$7,314,179,000
- County product change over the prior year, Wright County6.5 percent
- Average income of an arriving household, Wright County$79,885
Every figure in this section is published for Wright County as a whole and is not a measurement of Hanover. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- This place is not listed as a community in the FEMA Community Status Book, so no NFIP participation or CRS class is shown.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
Common questions
Hanover questions, answered from the record.
How many people live in Hanover, Minnesota?
3,626, in 1,169 households. Hanover city covers 5.49 square miles of land, which is 661 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Hanover in?
Hanover lies in more than one. By area it is 62.4 percent in Wright County, 37.6 percent in Hennepin County. This page sits under Wright County because that county holds the largest share. The split is measured from the Census boundary of the place against the county boundaries.
What is the median household income in Hanover?
$156,536. The median owner-occupied home is valued at $447,900. Median gross rent is $1,853 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Hanover businesses?
6 7(a) approvals totalling $1.8 m, across 4 lenders, median approval $75,000, plus 4 504 approvals worth $1.9 m. These count approvals to borrowers whose address is in Hanover, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Hanover borrowers get paid back?
No rate is published for Hanover. only 2 resolved loans, too few to publish a rate, and a percentage over that few outcomes would move several points on a single loan. The counts are shown instead.
Are the county figures on this page Hanover figures?
No, and they are labelled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Wright County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Hanover.
Is zoning published for Hanover?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.