Hanover, IL vs Oakwood Hills, IL

The cost of living difference between Hanover, IL and Oakwood Hills, IL is dramatic. Hanover is 41.7% cheaper than Oakwood Hills, a gap that translates to thousands of dollars per year in household expenses. Hanover has a cost index of 63 while Oakwood Hills sits at 109, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Hanover is $751/month compared to $1,667/month in Oakwood Hills — a 55% difference. Home values follow the same pattern: Hanover is more affordable at $86,200 median vs $273,200.

Median household income in Hanover is $39,583 compared to $113,125 in Oakwood Hills (-65%). While Oakwood Hills is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Hanover spend roughly 22.8% of their income on rent, more than the 17.7% in Oakwood Hills.

Climate-wise, Oakwood Hills is notably warmer with an average of 50.8°F compared to 47.2°F in Hanover. Hanover receives more rainfall at 38.2" per year compared to 32.3" in Oakwood Hills.