The small city of Hancock, Iowa is a pleasant place to live and work. With a population of just over 1,000 people, it is quiet and peaceful with a lot of charm. The average 2 bedroom rental rate in Hancock is $900, which is significantly lower than the national average rent of $1,430. Additionally, grocery costs in Hancock are relatively cheap compared to the US average. All these factors make Hancock very attractive for those looking for a low-cost living environment.
Hancock has several local businesses that provide employment opportunities as well as services to its citizens. Some popular local businesses include J&B Family Foods grocery store, Looby's Bar & Grill restaurant, and O'Connell's Discount Hardware Store. There are also a variety of health care centers and schools located within the city limits.
Overall, living in Hancock can be very affordable due to lower rental rates and grocery costs as compared to the US average. With plenty of local businesses providing employment opportunities as well as services and amenities available within the city limits, it is an attractive option for those looking for a place to call home on a budget.
Hancock has an unemployment rate of 4.3%. The US average is 6.0%.
Hancock has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 27.5%, which is lower than the US average of 33.5%.
Tax Rates for Hancock
- The Sales Tax Rate for Hancock is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Hancock is 9.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Hancock
- The average income of a Hancock resident is $22,783 a year. The US average is $28,555 a year.
- The Median household income of a Hancock resident is $53,125 a year. The US average is $69,021 a year.