Hancock, IA
Population 232 · Iowa
About Hancock, IA
Hancock is a small community located in Iowa with a population of 232 residents according to the latest US Census Bureau American Community Survey data. The median household income is $79,375 per year, which is 6% above the national median of $75,149. The median age of 47 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Hancock features a median home value of $98,300, which is 60% below the national median of $244,900. This makes Hancock one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $794, 32% below the national average of $1,163/month. Of the 100 total housing units, 88% are owner-occupied (84 units) and 12% are renter-occupied (11 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Hancock shows an unemployment rate of 2.3%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 10.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Hancock have an average one-way commute time of 30.3 minutes.
Education & Demographics
21.3% of Hancock residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 2.6% White, 4.7% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Hancock, IA
Compared to national averages, Hancock has a median household income of $79,375 (6% above the national median of $75,149). Home values average $98,300, which is 60% below the national median. Monthly rent at $794 is 32% below the US average of $1,163. Within Iowa, Hancock's income is 17% above the state average of $67,947, and home values are 26% below the state median of $132,237.
Why Live in Hancock, IA?
Hancock offers a strong local economy with a median household income of $79,375, well above the national average, and affordable housing with a median home value of $98,300, below the US average of $244,900, and rent that’s lower than the national average at $794/month. Additionally, the city features a strong job market with an unemployment rate of just 2.3%, and a low poverty rate of 10.0%, better than the national average.
Hancock has a population of 232 with a median age of 47 years. Compare Hancock with other cities to see how it stacks up, or explore all cities in Iowa.
Similar Cities Near Hancock
Cities in Iowa with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Fredonia | 232 | $51,250 | $86,400 | Compare |
| Grafton | 233 | $52,188 | $94,600 | Compare |
| Maharishi Vedic City | 233 | $62,813 | $328,600 | Compare |
| Alexander | 230 | $78,750 | $54,400 | Compare |
| Burr Oak | 234 | $62,813 | $130,900 | Compare |
| Luxemburg | 230 | $77,292 | $168,300 | Compare |
| Crystal Lake | 229 | $82,500 | $86,000 | Compare |
| Parnell | 229 | $56,667 | $118,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Iowa
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Hancock With Other Cities
Frequently Asked Questions about Hancock
What is the population of Hancock, IA?
The population of Hancock, IA is 232 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Iowa.
What is the median household income in Hancock?
The median household income in Hancock, IA is $79,375 per year, which is 6% above the national median of $75,149.
What is the median home value in Hancock?
The median home value in Hancock, IA is $98,300, which is 60% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Hancock?
The median monthly rent in Hancock, IA is $794, which is 32% below the national average of $1,163/month.
What is the unemployment rate in Hancock?
The unemployment rate in Hancock, IA is 2.3%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Hancock, IA a good place to live?
Hancock offers above-average incomes, affordable housing, and a strong job market. With a population of 232 and a median age of 47, the city appeals to established professionals and retirees.
How educated is Hancock, IA?
21.3% of residents in Hancock aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Hancock?
Key cost-of-living indicators for Hancock, IA: median home value is $98,300 (60% below national), median rent is $794/month, and median household income is $79,375. The home-value-to-income ratio is 1.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Hancock?
The poverty rate in Hancock, IA is 10.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Hancock, IA?
Hancock's population is 2.6% White, 4.7% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 1.3% two or more races. 0.0% of residents are foreign-born.