Cost of Living in Hancock County, Kentucky
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 #749 of 3,142 counties for affordability (top 24%)
Sourced county brief
Hancock County Renter Median Income Recorded at $37,383
The median income for renter households in Hancock County was estimated at $37,383 according to the 2020-2024 ACS 5-Year Estimates. The official ACS B25071 median gross rent as a percentage of household income (GRAPI) was 24.9%, which is 2.3 percentage points below the Kentucky unweighted county mean of 27.2%. Median gross rent in the county was reported at $740 per month, while the median selected monthly owner cost for all owner-occupied units was $741. The median home value for the county was $141,200. These values are part of a statistical snapshot and do not indicate trends in the housing market. All comparisons to state levels utilize the unweighted county mean. For verification of the gross rent as a percentage of household income, 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 24.9% 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 $740 per month; median selected monthly owner costs are $741. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $29,600 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 Kentucky unweighted mean of county median rents is $793 per month. Hancock County's $740 median is 6.7% 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
13.6%
of gross income
Max Housing (28% Rule)
$1,527
per month
Owner Cost Burden
13.6%
of gross income
You can likely afford the median home in Hancock County
Median home value is $141,200. Estimated monthly cost: $1,127 vs. your max of $1,527.
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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