Cost of Living in Hancock, ME
Housing
The housing market plays a significant role in determining the cost of living in Hancock, ME.
- Housing Index: Data is updating
- Median Home Price is: $295,000
- Average Rent (2 BR Apartment): Data is updating
- Average Rent (2 BR House): Data is updating
When considering a move to Hancock, ME, the housing data indicates that the housing index is currently at 0.0, suggesting potential affordability issues or a market not yet fully developed. The median home price of 295000 could be appealing for home buyers. However, with no available data for average rents for both 2-bedroom apartments and houses, it raises questions about rental market stability and options for non-buyers. It's essential to investigate further about the local economy, amenities, and school quality, as these factors play a crucial role in making a well-informed decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Hancock, ME.
- Electricity Price: $22.26 USD (median by state)
- Natural Gas Price: $21.63 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): Data is updating
Living in Hancock, ME could entail higher utility costs. Electricity costs sit at $22.26, while natural gas is priced at $21.63 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about data unavailable monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Hancock is a financially viable option for your relocation.