Altamont, IL vs Hanover, IL

Hanover is moderately more affordable than Altamont, with a 13% lower cost of living index. Altamont scores 72 compared to 63 for Hanover, where the US average is 100. This difference means residents of Altamont can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Altamont is $898/month compared to $751/month in Hanover — a 20% difference. Home values follow the same pattern: Hanover is more affordable at $86,200 median vs $132,200.

Median household income in Altamont is $76,198 compared to $39,583 in Hanover (+92.5%). While Altamont is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Altamont spend roughly 14.1% of their income on rent, less than the 22.8% in Hanover.