Hancock, MN
Population 816 · Minnesota
About Hancock, MN
Hancock is a small community located in Minnesota with a population of 816 residents according to the latest US Census Bureau American Community Survey data. The median household income is $69,712 per year, which is 7% below the national median of $75,149. The median age of 33.6 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Hancock features a median home value of $79,600, which is 67% 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 $738, 37% below the national average of $1,163/month. Of the 365 total housing units, 88% are owner-occupied (276 units) and 12% are renter-occupied (39 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Hancock shows an unemployment rate of 3.5%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 5.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Hancock have an average one-way commute time of 16.3 minutes, one of the shorter commutes in the region.
Education & Demographics
16.1% 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 6.1% White, 1.1% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 3.1% of the population being foreign-born.
Cost of Living in Hancock, MN
Compared to national averages, Hancock has a median household income of $69,712 (7% below the national median of $75,149). Home values average $79,600, which is 67% below the national median. Monthly rent at $738 is 37% below the US average of $1,163. Within Minnesota, Hancock's income is 6% below the state average of $74,221, and home values are 61% below the state median of $204,472.
Why Live in Hancock, MN?
Hancock offers affordable housing with a median home value of $79,600, below the US average of $244,900, and rent that’s lower than the national average at $738/month, and a strong job market with an unemployment rate of just 3.5%. Additionally, the city features a low poverty rate of 5.2%, better than the national average, and short commute times averaging just 16.3 minutes.
Potential considerations include median household income ($69,712) that falls below the national average. However, Hancock’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Hancock has a population of 816 with a median age of 33.6 years. Compare Hancock with other cities to see how it stacks up, or explore all cities in Minnesota.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Hancock
What is the population of Hancock, MN?
The population of Hancock, MN is 816 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Minnesota.
What is the median household income in Hancock?
The median household income in Hancock, MN is $69,712 per year, which is 7% below the national median of $75,149.
What is the median home value in Hancock?
The median home value in Hancock, MN is $79,600, which is 67% 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, MN is $738, which is 37% below the national average of $1,163/month.
What is the unemployment rate in Hancock?
The unemployment rate in Hancock, MN is 3.5%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Hancock, MN a good place to live?
Hancock offers a moderate cost of living, affordable housing, and a strong job market. With a population of 816 and a median age of 33.6, the city appeals to young professionals and families.
How educated is Hancock, MN?
16.1% 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, MN: median home value is $79,600 (67% below national), median rent is $738/month, and median household income is $69,712. The home-value-to-income ratio is 1.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Hancock?
The poverty rate in Hancock, MN is 5.2%, 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, MN?
Hancock's population is 6.1% White, 1.1% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 3.1% of residents are foreign-born.