Cost of Living in Hancock, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
89.6
100 = national avg
-10.4 vs national average
Living Wage (1 Adult)
$39,431
per year
Living Wage (Family of 4)
$93,201
per year
Cost Index by Category
Housing64.0
Food103.3
Transportation106.6
Healthcare102.6
Utilities94.8
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$755
per month
2 Bedroom
$991
per month
The overall cost of living index in Hancock is 89.6, which is 10.4% below the national average. Housing costs are below the national average at an index of 64.0. A single adult needs to earn approximately $39,431 per year to cover basic expenses.