Cost of Living in Hancock, MD
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
81.6
100 = national avg
-18.4 vs national average
Living Wage (1 Adult)
$35,909
per year
Living Wage (Family of 4)
$84,876
per year
Cost Index by Category
Housing98.2
Food80.1
Transportation60.2
Healthcare84.1
Utilities87.7
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$961
per month
2 Bedroom
$1,261
per month
The overall cost of living index in Hancock is 81.6, which is 18.4% below the national average. Housing costs are below the national average at an index of 98.2. A single adult needs to earn approximately $35,909 per year to cover basic expenses.