Hancock, MN (Zip Code 56244) is a small city located in the very northwestern corner of Minnesota. The cost of living is relatively low compared to other areas in the US; 2 bedroom rent is $820 per month, and the Grocery Cost Index is 96 versus 100 in the US. The city has a wide range of businesses offering services to its residents. Some local companies include Hancock Abshire Insurance Agency, Your Farm Store Grocery & Deli, and KB’s Bakery & Café. The city also has its own medical clinic, pharmacy, bank and mini-golf course. With its affordable cost of living and variety of businesses, Hancock makes an attractive place for those looking for an affordable yet comfortable place to live.
Hancock (zip 56244) has an unemployment rate of 3.8%. The US average is 6.0%.
Hancock (zip 56244) has seen the job market decrease by -0.6% 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 (zip 56244)
- The Sales Tax Rate for Hancock (zip 56244) is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Hancock (zip 56244) 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 (zip 56244)
- The average income of a Hancock (zip 56244) resident is $42,301 a year. The US average is $37,638 a year.
- The Median household income of a Hancock (zip 56244) resident is $76,591 a year. The US average is $69,021 a year.