Cost of Living in Hancock County, Tennessee
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 #24 of 3,142 counties for affordability (top 1%)
Sourced county brief
Hancock County Renter Households Face 33.5% Median Rent-to-Income Ratio
The official ACS B25071 median gross rent as a percentage of household income in Hancock County was 33.5%. This figure is 6.6 percentage points above the Tennessee unweighted county mean of 26.9%. Median gross rent was estimated at $622 per month, which is $271 below the state unweighted county mean of $893. Homeowners experienced a median selected monthly owner cost of $398, while the median home value was $134,500, which is $88,885 below the state unweighted mean of $223,385. Median renter-household income in the county was $25,944. These figures represent the findings for the 2020-2024 period without addressing historical context or market drivers. 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 33.5% of renter household income in Hancock County, which is between the 30% and 50% rent-burden benchmarks. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $622 per month; median selected monthly owner costs are $398. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $24,880 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 Tennessee unweighted mean of county median rents is $893 per month. Hancock County's $622 median is 30.3% 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
21.4%
of gross income
Max Housing (28% Rule)
$816
per month
Owner Cost Burden
13.7%
of gross income
The median home in Hancock County may be a stretch
Median home value is $134,500. Estimated monthly cost: $1,074 vs. your max of $816.
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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