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Solid and Stable, Hanover,
Pennsylvania Beckons to Retirees in Search of History, a Lower Cost of
Living and Small Town Charm
Cost of Living: Below the National Average
| In the early
1700s, German immigrants, seeking escape from
religious persecution, came to the fertile
farming region known as the Pigeon Hills and
founded the town of Hanover, Pennsylvania
(population 15,000). The Civil War came to
Hanover on June 30th, 1863 when Union and
Confederate clashed in the Battle of Hanover,
and President Abraham Lincoln spent time here
before traveling to Gettysburg, just 15 miles to
the west, to give his Gettysburg Address on
November 18, 1863. |
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Today, Hanover is a growing
community that celebrates its past while appreciating its
current prosperity; despite its size, it is known as one of
the largest retail centers in Pennsylvania, a fact that
should warm the hearts of those retirees who love to shop
close to home. Even with this commercial activity
(Hanover is also the site of a dozen or so "snack
food" manufacturers), the town retains a small town
quaintness, is safe and has an affordable cost of living,
making it worth consideration as a retirement spot.
The population is slightly older than the national average,
with 23% of the residents age 45 to 64 and 21% age 65
or above, and the median household income is $35,536, below
the national average. This does not seem to be a
problem, though, since the cost of living is roughly 10%
below the national average.
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Hanover's median home price is $215,000, and there
is a good selection of small and medium-sized (1,000 to 1,700 sq.
ft.) single family homes for sale for less than $200,000, although
expect to pay at least $150,000 for a comfortable residence in a
nice, if not affluent, neighborhood. Hanover has a welcome
mix of contemporary and historic architecture, and sturdy,
renovated turn-of-the-20th-century houses can be found for less
than $200,000. Spending $350,000 or so will purchase a
beautiful new brick, with siding, two-story residence with 3,000
sq. ft., three bedrooms and three baths. On the outskirts of
town, surrounded by rolling pastures, $450,000 will fetch a
sprawling farm house with nearly 5,000 sq. ft., four to five
bedrooms and three baths.
Apartments are not plentiful, but the average
rent for a one bedroom unit is $600 per month and for a two
bedroom unit it is $700 per month.
This is an
interactive map. Click on the arrows in the upper left hand
corner to move the map to the East, West, North or South, and click
(more than once if necessary) on the +/- signs to zoom in
and out.
When it comes to property taxes,
Hanover residents pay, on average, $12.98 per $1,000 of a home's
fair market value. Homeowners age 65 and
above earning $35,000 per year or less are entitled to a
$250 to $650 tax rebate. People age 65 and better
who lease apartments qualify for a $500 to $600 tax rebate
if they earn less than $15,000 per year. 50%
of Social Security payments may be excluded when figuring
annual income. Those 65 or above who pay more than 15% of
their income in property taxes will also have their
property tax rebate increase by an additional 50% if their
income is under $30,000. Social Security, civil
service, state/local government and private pensions,
retired military pay, IRAs and out-of-state government
pensions are all exempt from state income taxes after age
59½.
Hanover,
Pennsylvania, Continued....
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