Living in Hancock, Michigan
Cost of living, income, home prices, rent and demographics of Hancock · Census data 2020–2024
Hancock has 4,574 residents with a median age of 31.9. The median household income is $59,519 (18% lower than the Michigan median), the median home value is $165,600, the median rent is $835/month.
Hancock at a glance
- Population
- 4,574
- Median age
- 31.9State: 40.2
- Median household income
- $59,519State: $72,875
- Median home value
- $165,600State: $231,600
- Median rent
- $835/moState: $1,129
- Homeowners
- 55.6%
- Bachelor's degree or higher
- 44.6%
- Average commute
- 11 min
Is Hancock a good place to live?
Pros: Home values 28% lower than the state median; an average commute of 11 minutes; unemployment of 1.8%.
Cons: Median household income 18% lower than the Michigan median; a poverty rate of 19.1%.
The weather is best in June to September.
Cost of living in Hancock
Housing is the biggest part of the cost of living. In Hancock the median home value is $165,600, 50% lower than the U.S. median. Renters pay a median of $835 per month, which is 31.1% of household income. Homeowners with a mortgage pay $1,358 a month in housing costs.
Hancock median household income
The median household income in Hancock is $59,519 and the income per person is $34,311. 19.1% of residents live below the poverty line (Michigan: 13.2%).
Housing in Hancock: homes for sale and rent
- Housing units
- 2,090
- Owner-occupied
- 55.6%
- Renter-occupied
- 44.4%
- Vacant
- 13%Includes seasonal homes
- Median year built
- 1953
- Average household size
- 2.25
Hancock demographics
- Population
- 4,574
- Median age
- 31.9
- Under 18
- 14.6%
- 65 and older
- 19.7%
- Households
- 1,818
- Foreign-born
- 4.2%
- Veterans
- 7.8%Adults 18+
Hispanic or Latino can be of any race. Population history of Hancock ›
Education in Hancock
44.6% of adults 25 and older in Hancock have a bachelor's degree or higher (Michigan: 32.4%), and 16.1% have a graduate or professional degree.
Jobs and commute in Hancock
- Unemployment rate
- 1.8%State: 5.7%
- Average commute
- 11 minState: 24 min
- Work from home
- 19.5%
- Drive alone
- 63.2%
- Public transit
- 1%
- Walk to work
- 6.7%
- Homes with broadband
- 92%
Hancock vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Hancock | 4,574 | $59,519 | $165,600 | $835 |
| Hurontown | 134 | $61,354 | — | — |
| Houghton | 8,474 | $43,456 | $254,500 | $978 |
| Atlantic Mine | 491 | $55,481 | $103,500 | — |
| Dollar Bay | 1,049 | $61,250 | $153,100 | $825 |
| South Range | 482 | $58,542 | $101,100 | $817 |
| Trimountain | 196 | $44,673 | $104,000 | — |
| Painesdale | 416 | $63,750 | $92,800 | — |
| Chassell | 899 | $54,148 | $167,600 | — |
More for people moving to Hancock
Hancock ZIP code ›Weather and climate ›Living in Hancock: FAQ
What is the median household income in Hancock, MI?
The median household income in Hancock is $59,519, 18% lower than the Michigan median of $72,875 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Hancock?
The median home value in Hancock is $165,600, compared with $231,600 in Michigan.
How much is rent in Hancock?
The median gross rent in Hancock is $835 per month, about 31.1% of household income.
Is Hancock, MI a good place to live?
Pluses: home values 28% lower than the state median; an average commute of 11 minutes; unemployment of 1.8%. Minuses: median household income 18% lower than the Michigan median; a poverty rate of 19.1%.
What is the median age in Hancock?
The median age in Hancock is 31.9 years (Michigan: 40.2).
How long is the commute in Hancock?
The average commute to work in Hancock is 11 minutes; 19.5% of workers work from home.
What is the unemployment rate in Hancock?
The unemployment rate in Hancock is 1.8% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Hancock?
44.6% of adults in Hancock have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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