Market Snapshot
Report generated March 2026
| Indicator | Value |
|---|---|
| Population | 111,652 ↑ 1.5% since 2020 |
| Median Household Income | $109,504 47% above national median |
| Median Home Value | $372,700 |
| Unemployment Rate | 2.7% |
| Median Age | 42.3 years |
| Housing Vacancy Rate | 4.5% |
| Total Land Sales (Past 12 Months) | 199 transactions |
| Active Listings | 32 properties |
| Avg Days on Market | 484 days |
Rural Land Sales (1+ Acres) (Dec 2025 – Mar 2026)
| Metric | Value |
|---|---|
| Median Price/Acre | $23,586 |
| Recent Sales | 184 transactions |
| Avg Days on Market | 489 days |
| Avg Parcel Size | 24.60 acres |
| Active Listings | 29 properties |
Recent Rural Land Sales
| Date | Acres | Price | $/Acre | Location |
|---|---|---|---|---|
| Mar 2026 | 1.32 | $180,000 | $136,364 | Glen Allen |
| Mar 2026 | 2.13 | $395,000 | $185,446 | Beaverdam |
| Feb 2026 | 12.39 | $210,000 | $16,949 | Mechanicsville |
| Feb 2026 | 10.76 | $300,000 | $27,878 | Mechanicsville |
| Feb 2026 | 10.00 | $500,000 | $49,980 | Mechanicsville |
| Jan 2026 | 5.91 | $140,000 | $23,673 | Beaverdam |
| Jan 2026 | 3.32 | $145,000 | $43,675 | Montpelier |
| Dec 2025 | 10.58 | $327,000 | $30,919 | Mechanicsville |
| Dec 2025 | 6.96 | $140,000 | $20,101 | Doswell |
| Dec 2025 | 12.50 | $239,000 | $19,120 | Montpelier |
Suburban/Urban Land Sales (Under 1 Acre) (Sep 2025 – Jan 2026)
| Metric | Value |
|---|---|
| Median Lot Price | $118,000 |
| Recent Sales | 15 transactions |
| Avg Days on Market | 427 days |
| Avg Parcel Size | 0.60 acres |
| Active Listings | 3 properties |
Recent Suburban/Urban Land Sales
| Date | Acres | Price | Location |
|---|---|---|---|
| Jan 2026 | 0.97 | $300,000 | Ashland |
| Sep 2025 | 0.46 | $125,000 | Mechanicsville |
County Profile
| Demographic | Value |
|---|---|
| Total Population (2023) | 111,652 |
| Population (2020) | 109,979 |
| Population Growth | 1.52% |
| Median Household Income | $109,504 |
| Median Home Value | $372,700 |
| Total Housing Units | 43,983 |
| Vacant Housing Units | 1,971 |
| Housing Vacancy Rate | 4.5% |
| Median Age | 42.3 |
| Bachelor's Degree or Higher | 20,550 (18.4%) |
| Unemployment Rate (BLS) | 2.9% |
Market Overview
Hanover County, Virginia has a population of 111,652, which has grown 1.52% since 2020. The median household income is $109,504, above the national median of $74,580 by 46.8%. With a median home value of $372,700 and an unemployment rate of 2.9%, the local economy is strong. The housing vacancy rate of 4.5% suggests tight market conditions. Hanover County remains a key area for land acquisition in Virginia. Recent rural land sales show a median price of $23,586 per acre, with properties averaging 24.60 acres. There are currently 32 active land listings in the county.
Related Resources
Nearby County Reports
Frequently Asked Questions
What is the current population of Hanover County, Virginia?
As of the 2023 American Community Survey, Hanover County has a population of 111,652. The county has grown 1.52% since the 2020 Census, indicating a growing community.
What is the median household income in Hanover County?
The median household income in Hanover County is $109,504, which is 46.8% above the national median of $74,580.
Is Hanover County growing or shrinking?
Hanover County is growing. The population has increased 1.52% since 2020.
What is the housing market like in Hanover County?
The median home value in Hanover County is $372,700. The housing vacancy rate is 4.5%, which suggests tight market conditions. The unemployment rate is 2.9%, indicating a strong local economy. Recent rural land sales (1+ acres) show a median price of $23,586 per acre. Suburban/urban lots under 1 acre have a median lot price of $118,000.
Does Reelvest buy land in Hanover County, Virginia?
Yes! Reelvest Properties buys vacant land throughout Virginia, including Hanover County. We make cash offers within 24-48 hours, close in 14-30 days, and pay all closing costs. Get your free cash offer today.
Data Sources: Market data reflects recent vacant land transactions in the county. Demographic data from U.S. Census Bureau American Community Survey (2023), Bureau of Labor Statistics (2025). Updated monthly.