Hancock, MD is a small town located in Western Maryland with a population of 1,744 people. This quaint, rural area offers residents a relaxed atmosphere and an opportunity to live away from the hustle and bustle of city life. The cost of living is quite reasonable with a two bedroom rental averaging around $900 per month. The grocery cost index for Hancock is 103 compared to 100 in the US.
Hancock has several local businesses including Hancock Hardware Store, Market Street Diner, and the C&O Canal Company. These small businesses are essential to the community, providing quality goods and services to locals. The people of Hancock are friendly and welcoming; they enjoy socializing at local parks or relaxing at home surrounded by natural beauty. Hancock is an ideal place for those seeking an escape from crowded cities while still being close enough to major metropolitan areas that they can enjoy all that big cities have to offer as well.
Hancock has an unemployment rate of 5.6%. The US average is 6.0%.
Hancock has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 24.5%, which is lower than the US average of 33.5%.
Tax Rates for Hancock
- The Sales Tax Rate for Hancock is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Hancock is 7.6%. 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 $18,057 a year. The US average is $28,555 a year.
- The Median household income of a Hancock resident is $43,713 a year. The US average is $69,021 a year.