Cost of Living in Hancock, MN
Housing
The housing market plays a significant role in determining the cost of living in Hancock, MN.
- Housing Index: Data is updating
- Median Home Price is: $198,000
- Average Rent (2 BR Apartment): Data is updating
- Average Rent (2 BR House): Data is updating
Considering relocating to Hancock, MN? With a median home price of 198000, purchasing a home here might be very appealing, especially if housing costs are rising elsewhere. However, a housing index of 0.0 suggests potential challenges in market conditions, as evidenced by the absence of rental data for 2BR apartments and houses. This might indicate a severe shortage of rental properties, making it essential to closely evaluate affordability versus availability. Furthermore, keep in mind the local amenities and community aspects to ensure your new home meets all your lifestyle needs.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Hancock, MN.
- Electricity Price: $16.38 USD (median by state)
- Natural Gas Price: $14.87 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): Data is updating
Living in Hancock, MN could entail higher utility costs. Electricity costs sit at $16.38, while natural gas is priced at $14.87 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.