Hanover, New Mexico.
Typical home $193,103 (-4.0% in a year). Silver City, NM metro.
to buy the typical home at today's mortgage rate — +$466 (+85%) since Jan 2020.
- 1 year
- Down $8,036 -4%
- $201,139$193,103 since Sep 2025
- 5 years
- Up $14,937 +8%
- $178,167$193,103 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Hanover$1,014
- New Mexico$1,658
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 43 years.
Typical home values in Hanover, NM fell 4.0% over the past year — slower than the nation's +1.2%.
Living in Hanover, Grant County, New Mexico
Hanover, in Grant County, had 144 people in the 2020 census. Unemployment in Grant County was 5.0% in August 2026, and the county had 1.0% fewer jobs in 2025 than the year before. The most people in Grant County work in schools and health care, then shops.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Hanover is a very small community in Grant County, New Mexico, home to far fewer people than a typical town. Homes here are priced well below what many buyers expect elsewhere in the country, and household incomes across the county run on the modest side.
Work. Residents mostly work in schools, hospitals and social care, in shops, in restaurants, hotels and entertainment, and in professional and business services. Across Grant County, the biggest employers include Western New Mexico University, Gila Regional Medical Center and Silver City Schools. Unemployment across the county has risen over the past year, and there are slightly fewer jobs than there were a year earlier.
Things to do. Fort Bayard, a historic fort, is a short drive away. A longer drive brings you to City of Rocks State Park, a protected area, and to the Gila River, a good spot for time by the water. Winters are cool and summers are hot, and the area gets modest rain and snowmelt over the year, so a trip fits most seasons.
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What people in Grant County work in
Employed residents by industry, from the Census survey. Grant County had 9,348 jobs in 2025, 1.0% fewer than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in December, with highs near 55° and lows near 30°; warmest in June, with highs near 90° and lows near 60°. About 16 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Fort Bayard weather station, 4 miles away (NOAA).
Largest workplaces in Grant County
- Western New Mexico UniversityUniversity or college535
- Gila Regional Medical CenterCritical access hospital370FTE
- WalmartWarehouse clubs and supercenters297
- Silver City SchoolsSchool district284FTE
- Cobre SchoolsSchool district224FTE
- Forest ServiceFederal government · Department of Agriculture111
- AlbertsonsSupermarkets and other grocery stores81
- Texas-New Mexico Power Company38
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 9 workplaces with 20 or more staff, 563 people in all across the county; Hanover has none of its own. Colleges come from IPEDS (NCES, 2023–24), hospitals from their Medicare cost reports (CMS, 2023), school districts from the Common Core of Data (NCES, 2023–24) and federal offices from OPM's federal workforce data (2026); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- WildfireVery high
- Inland floodingVery high
- LightningRelatively high
- Winter weatherRelatively high
- LandslidesRelatively moderate
- Heat wavesRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Hanover’s census tracts, against the rest of the country; all of them together, very high. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Grant County and the Silver City, NM metro.
Hanover home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Hanover$193,103
- New Mexico$315,812
- United States$366,157
Sellers are cutting prices on about 1 in 8 Hanover listings — the market is roughly in balance.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Hanover12.25%
- United States26.90%
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Hanover21
Zip codes with a Hanover address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Hanover — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.
Zip codes in Hanover
| Zip activate to sort by Zip | Place activate to sort by Place | Population sorted descending, activate to sort ascending | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|
| 88041 | Hanover | 925 | — | $156,246 |
| 88049 | Mimbres | 807 | — | $227,934 |
| 88042 | Hillsboro | 205 | — | $240,913 |