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)
How Hancock County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Hancock County ranks #105 of 3,144 counties for affordability (top 3%)
Data Story
About Cost of Living in Hancock County, Kentucky
Hancock County's exceptional affordability
Hancock County renters spend just 13.5% of income on housing—the best ratio in this dataset and far below national standards of 28-30%. At $752 monthly rent against $66,836 median income, the county delivers uncommon affordability.
Kentucky's affordability standout
With a 13.5% rent-to-income ratio, Hancock County decisively beats Kentucky's 17.0% state average and ranks among the state's most affordable counties. The combination of moderate rent and strong income makes this county exceptionally livable.
Best affordability in the region
Hancock County's 13.5% rent-to-income ratio tops every other county in this analysis, including Grant County (15.1%) and Greenup County (16.8%). Its balanced rents and strong median income of $66,836 stand out starkly.
Housing that leaves room to breathe
Renters allocate $752 monthly while homeowners pay $726 against a median income of $66,836. Housing claims roughly 13-14% of earnings, the lowest burden in this dataset and well within financial health guidelines.
Top choice for affordability seekers
Hancock County offers the rare combination of affordable rents and strong wages, making it Kentucky's standout option for those prioritizing financial breathing room. If housing affordability tops your relocation checklist, Hancock deserves your first serious look.
Cost of Living Advisory: Hancock County
Affordability Verdict
Hancock County offers affordable rental housing at a median of $752/month — about 13.5% of the typical household income here.
Rent vs. Own
The median rent in Hancock County is $752/month, while owner costs run $726/month. Owning saves approximately $26/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $30,080/year. For owner costs at the 28% rule, the required income is roughly $31,114/year. With a median household income of $66,836, most households can comfortably afford rent here. Notably, 26.0% of renter households in Hancock County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Hancock County sits 7% more expensive than Carter County ($701/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Hancock County
Rent Burden
13.5%
of gross income
Max Housing (28% Rule)
$1,560
per month
Owner Cost Burden
13.0%
of gross income
You can likely afford the median home in Hancock County
Median home value is $137,600. Estimated monthly cost: $1,099 vs. your max of $1,560.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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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 (2019-2023) — Informational only. Not financial or legal advice.
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