Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 33.1 yrs |
|---|---|
| Avg HH Size | 2.41 |
| Below Poverty | 12.4% ▲ 24% above avg |
| College Grads | 48.7% ▲ 26% above avg |
| Unemployment | 1.7% ▼ 65% below avg |
| No HS Diploma | 17 (0.4%) |
| HS Graduate | 1,123 (27.6%) |
| Some College | 298 (7.3%) |
| Associates | 649 (15.9%) |
| Bachelors | 259 (6.4%) |
| Graduate Degree | 1,725 (42.4%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $67,946 ▼ 11% below avg |
|---|---|
| Median Home Value | $211,900 ▼ 24% below avg |
| Home/Income Ratio | 3.1x (nat avg ~3.5x) |
| Median Rent | $749/mo |
| Total Housing Units | 3,366 |
| Vacant Units | 587 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Hancock is a city in Michigan, located in Houghton County. The city spans 1 ZIP code and is home to approximately 7,199 residents. It is a relatively young city, with a median age of 33.1 years.
Economically, Hancock is a solidly middle-class community. The median household income of $67,946 is near the national average. Approximately 12.4% of residents live below the poverty line. The unemployment rate is 1.7%, well below the national average.
The real estate market in Hancock is an affordable housing market. Median home values stand at $211,900, which is below the national average. Renters typically pay around $749 per month. Homeownership is high at 65.7%, typical of suburban and family-oriented communities.
The population of Hancock is well-educated. 48.7% of adults hold a bachelor's degree or higher — above the national average. The community is primarily White (94.36%).
Hancock, MI offers residents a cost-conscious lifestyle within Michigan.
| ZIP | Population | Median Income | Median Home | Median Rent | Unemp. | College | Owner Occ. |
|---|---|---|---|---|---|---|---|
| 49930 | 7,199 | $67,946 | $211,900 | $749 | 1.7% | 48.7% | 65.7% |