Cost of Living in Hancock County, Illinois
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Hancock County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Hancock County ranks #901 of 3,142 counties for affordability (top 29%)
Sourced county brief
Hancock County Median Rent-to-Income Ratio Stands at 24.3 Percent
The median gross rent as a percentage of household income in Hancock County was estimated at 24.3 percent. This official B25071 GRAPI value is 1.8 percentage points below the Illinois unweighted county mean of 26.1 percent. Additional housing costs include a median gross rent of $782 per month, which is $85 below the state unweighted county mean of $867. Among owner-occupied units, the median selected monthly owner cost was $737, compared to the state unweighted county mean of $960. The median home value in the county was $113,800, which is $39,220 below the state unweighted county mean of $153,020. For renter-occupied households, the median income was recorded at $42,019. These figures represent a snapshot of the 2020-2024 period as reported by the U.S. Census Bureau. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Hancock County
Affordability Verdict
ACS B25071 estimates median gross rent at 24.3% of renter household income in Hancock County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $782 per month; median selected monthly owner costs are $737. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $31,280 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Illinois unweighted mean of county median rents is $867 per month. Hancock County's $782 median is 9.8% below that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Hancock County
Rent Burden
14.2%
of gross income
Max Housing (28% Rule)
$1,537
per month
Owner Cost Burden
13.4%
of gross income
You can likely afford the median home in Hancock County
Median home value is $113,800. Estimated monthly cost: $909 vs. your max of $1,537.
Rent Affordability Guide
Income Needed Calculator
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
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