What is the median household income in Hanover Township (Lake County), IN?
The median household income in Hanover Township (Lake County), IN is $102,823 (±$10,351) a year (2020–2024 American Community Survey).
Paying the median gross rent of $1,375 a month would take about $55,000 a year at the common guideline of spending no more than 30% of income on rent.
In Hanover Township (Lake County), the median household income went from $82,975 in 2015–2019 to $102,823 in 2020–2024 (+23.9%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Figures last updated on .
- Median household income
- $102,823 (±$10,351)
- Median renter income
- $51,108 (±$8,301)
- Income to afford median rent
- about $55,000
Income in Hanover Township (Lake County) against Lake County, its state and the nation
| Hanover Township (Lake County) | Lake County | Indiana | United States | |
|---|---|---|---|---|
| Median household income | $102,823 (±$10,351) | $71,493 (±$1,419) | $71,957 (±$352) | $80,734 |
| Median renter household income | $51,108 (±$8,301) | $41,002 (±$1,339) | $42,811 (±$480) | $52,966 |
| Median owner household income | $110,764 (±$12,021) | $88,178 (±$2,255) | $87,459 (±$395) | $100,009 |
| Median gross rent | $1,375 (±$307) | $1,131 (±$16) | $1,062 (±$5) | $1,413 |
In Hanover Township (Lake County), median household income is higher than in Lake County ($71,493).
It is also higher than in Indiana ($71,957).
It is higher than the national figure ($80,734).
In Lake County, Hanover Township (Lake County) ranks 8 of 31 places with a published estimate, from highest to lowest median household income.
Statewide, it ranks 156 of 1,568.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
How much you need to earn to rent in Hanover Township (Lake County)
Many landlords and housing programs use 30% of gross income as the most a household should spend on rent.
At that guideline, the median gross rent of $1,375 a month ($16,500 a year) needs an income of about $55,000 a year.
The median renting household in Hanover Township (Lake County) earns $51,108 a year, less than that.
This is arithmetic on the published medians, not a rule any landlord must follow; screening criteria vary and some places limit how income may be weighed.
Income against housing costs since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median household income | $82,975 (±$6,718) | $102,823 (±$10,351) | +23.9% | No measurable change after inflation |
| Median gross rent | $953 (±$67) | $1,375 (±$307) | +44.3% | No measurable change after inflation |
| Median home value | $231,800 (±$9,241) | $346,400 (±$17,841) | +49.4% | Up after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Median household income in places near Hanover Township (Lake County)
| Place | Distance | Median household income | Compared with this place |
|---|---|---|---|
| Hanover Township (Lake County) | — | $102,823 (±$10,351) | — |
| Cedar Lake | 2.3 mi | $83,381 (±$13,325) | Lower |
| St. John | 3.5 mi | $131,467 (±$12,200) | Higher |
| Willowbrook (community) | 4.8 mi | $89,773 (±$38,642) | Not measurably different |
| Lake Dalecarlia | 5.4 mi | $118,472 (±$30,974) | Not measurably different |
| Center Township (Lake County) | 5.8 mi | $102,336 (±$6,407) | Not measurably different |
| St. John Township | 6.1 mi | $103,035 (±$3,659) | Not measurably different |
| Crete Township | 6.7 mi | $80,482 (±$6,957) | Lower |
| Schererville | 6.8 mi | $89,466 (±$6,450) | Lower |
Nearby places with a measurably lower figure: Cedar Lake, IN ($83,381), Crete Township, IL ($80,482), Schererville, IN ($89,466).
Nearby places with a measurably higher figure: St. John, IN ($131,467).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median household income across Lake County, place by place
| Rank | Place | Median household income |
|---|---|---|
| 2 | Winfield Township | $133,448 (±$9,253) |
| 3 | St. John | $131,467 (±$12,200) |
| 4 | Lake Dalecarlia | $118,472 (±$30,974) |
| 5 | Munster | $110,187 (±$11,660) |
| 6 | Dyer | $107,159 (±$16,778) |
| 7 | St. John Township | $103,035 (±$3,659) |
| 8 | Hanover Township (Lake County) | $102,823 (±$10,351) |
| 9 | Center Township (Lake County) | $102,336 (±$6,407) |
| 10 | Crown Point | $101,686 (±$7,606) |
| 11 | Eagle Creek Township | $99,663 (±$6,903) |
| 12 | Schererville | $89,466 (±$6,450) |
| 13 | West Creek Township | $87,346 (±$13,904) |
| 14 | Cedar Creek Township (Lake County) | $86,780 (±$8,382) |
Showing 13 of 31 places in Lake County, ranked from highest to lowest.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
What you can do on Seayora in Hanover Township (Lake County)
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Questions about Hanover Township (Lake County)
What is the median household income in Hanover Township (Lake County)?
The median household income in Hanover Township (Lake County) is $102,823 (±$10,351) a year (2020–2024 American Community Survey).
How much do you need to make to afford rent in Hanover Township (Lake County)?
About $55,000 a year, if rent is to stay at or below 30% of income at the median gross rent of $1,375 a month.
Have incomes in Hanover Township (Lake County) kept up with inflation?
In Hanover Township (Lake County), the median household income went from $82,975 in 2015–2019 to $102,823 in 2020–2024 (+23.9%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
What do renters earn in Hanover Township (Lake County)?
The median renting household in Hanover Township (Lake County), IN earns $51,108 (±$8,301) a year.
Sources
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Hanover township, Lake County, Indiana
- Median Household Income by Tenure (B25119), 2020–2024 ACS 5-year estimates — Hanover township, Lake County, Indiana
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Hanover township, Lake County, Indiana
- Median Household Income (B19013), 2015–2019 ACS 5-year estimates — Hanover township, Lake County, Indiana
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Hanover township, Lake County, Indiana
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Hanover township, Lake County, Indiana
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Hanover township, Lake County, Indiana (county subdivision:31252, in state:18 county:089).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B19013_001E, B19013_001M, B25064_001E, B25064_001M, B25077_001E, B25077_001M from the 2019 release.
The API needs a free key.
DP03_0062E, DP03_0062M, B25119_003E, B25119_003M, B25119_002E, B25119_002M, DP04_0134E, DP04_0134M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
Related
- Housing in Hanover Township (Lake County) at a glance
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- Rent by bedrooms in Hanover Township (Lake County)
- Rent burden in Hanover Township (Lake County)
- Renters and owners in Hanover Township (Lake County)
- Home values in Hanover Township (Lake County)
- Homeowner costs in Hanover Township (Lake County)
- Property taxes in Hanover Township (Lake County)
- Types of homes in Hanover Township (Lake County)
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- Age of homes in Hanover Township (Lake County)
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- Commute and cars in Hanover Township (Lake County)
- Population growth in Hanover Township (Lake County)
- How long people stay in Hanover Township (Lake County)
- Crowding and facilities in Hanover Township (Lake County)
- Fair Market Rent in Hanover Township (Lake County)
- Indiana landlord and tenant rules
- Housing across Lake County
- Indiana places ranked by median household income
- Housing data for every place in Indiana