Hancock, MN is a small city located in the southeastern area of Minnesota. It is in close proximity to the Mississippi River and offers plenty of natural beauty. The cost of living in Hancock is lower than the national average, with 2 bedroom rent at $840 and a Grocery Cost Index of 96 versus 100 nationally. Although it is a small town, there are many local companies and attractions for residents to visit. Popular places include the North Star Golf Course, F & M Family Foods and Berkey’s Repair. There are also a variety of outdoor activities such as fishing, boating, camping and hiking. Residents of Hancock have access to plenty of recreational activities in the area while still enjoying a low cost of living.
Hancock has an unemployment rate of 3.8%. The US average is 6.0%.
Hancock has seen the job market increase by 0.1% over the last year. Future job growth over the next ten years is predicted to be 20.4%, which is lower than the US average of 33.5%.
Tax Rates for Hancock
- The Sales Tax Rate for Hancock is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Hancock is 7.1%. 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 $18,498 a year. The US average is $28,555 a year.
- The Median household income of a Hancock resident is $69,750 a year. The US average is $69,021 a year.