Cost of Living in Hancock County, Tennessee

$592/mo

Median Monthly Rent

$118,000

Median Home Value

31% below state averageUnaffordable

At a Glance

Median Monthly Rent

$592/mo

31% below state average

Median Home Value

$118,000

58% below national

Rent-to-Income Ratio

31.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Hancock County Compares

Median monthly rent comparison

Hancock County$592/mo

Tennessee Average$860/mo

National Median$1,163/mo

Detailed Housing Stats

$592/mo

Median Gross Rent

$118,000

Median Home Value

$395/mo

Monthly Owner Cost

31.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in Hancock County, Tennessee

Nation's poorest county, housing crunch

Hancock County renters spend 22.2% of income on housing—a significant burden compared to the national average near 18%. With a median household income of just $31,995, far below the national median of $74,755, every dollar stretches thin.

Tennessee's most unaffordable county

Hancock County's 22.2% rent-to-income ratio is the worst in Tennessee, climbing 4.6 percentage points above the state average of 17.6%. The county's median income ranks among the lowest statewide, making housing genuinely unaffordable for most residents.

Cheapest rent, tightest wallets

At $592 monthly, Hancock has Tennessee's lowest median rent—cheaper than Hardeman ($818), Hawkins ($744), and Henry ($741). But this bargain matters little when household income ($31,995) is half that of neighboring Hardeman ($46,173), leaving residents with the state's worst affordability crisis.

Housing eats most monthly income

Renters pay $592 monthly on a median income of $2,666—leaving just 78% for everything else including food, transport, and healthcare. Even cheaper homeownership at $395 monthly still consumes 15% of income, a burden made worse by low wages.

Affordability alone isn't enough

Hancock's rock-bottom rents mask a deeper challenge: income growth lags far behind the state and nation. Before relocating here for cheap housing, research job opportunities carefully—low cost of living means little without wages to sustain it.

Affordability Calculator

See how your income compares to housing costs in Hancock County

Your Annual Household Income

Rent Burden

22.2%

of gross income

Max Housing (28% Rule)

$747

per month

Owner Cost Burden

14.8%

of gross income

The median home in Hancock County may be a stretch

Median home value is $118,000. Estimated monthly cost: $942 vs. your max of $747.

Rent Affordability Guide

Your rent-to-income ratio22.2%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Hancock County, Tennessee?

Hancock County, Tennessee has a median monthly rent of $592/mo and a median home value of $118,000. The affordability rating is Unaffordable, with rent making up approximately 31.0% of median household income.

What is the median rent in Hancock County?

The median gross rent in Hancock County is $592/mo. This is 31% below state average for Tennessee.

Is Hancock County affordable?

Hancock County is rated Unaffordable based on rent-to-income ratio of 31.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Hancock County's rent compare to the state average?

Hancock County's median rent of $592/mo is 31% below state average of $860/mo for Tennessee.

What is the median home value in Hancock County?

The median home value in Hancock County, Tennessee is $118,000. This is 58% below the national median home value of $281,900.