Greencastle, IN vs Hanover, IN

Greencastle, IN and Hanover, IN have a very similar cost of living, with only a 2.8% difference in their overall index. Greencastle scores 73 while Hanover scores 71 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Greencastle is $904/month compared to $913/month in Hanover — a 1% difference. Interestingly, home values tell a different story: while Greencastle has cheaper rent, Hanover actually has lower median home values ($126,300 vs $154,000).

Median household income in Greencastle is $54,217 compared to $58,194 in Hanover (-6.8%). Hanover offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Greencastle spend roughly 20% of their income on rent, more than the 18.8% in Hanover.