Hancock, MI 49930 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Hancock, MI—49930

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$210,000

5.6% YoY Growth

Household Income

$67,900

44.1% YoY Growth

Days on Market

19.0% Longer YoY

Home Price Forecast

2.7%

Median Rent

$1,850

36.6% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

$1,580

54.5% YoY Growth

3-Bed Rent

$1,850

17.3% YoY Growth

Home Price Trends — Hancock, MI

As of Nov '25, the median home price in Hancock, MI is $210,000, with a year-over-year change of 5.6%. This indicates that home prices in Hancock, MI are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$210,000	5.6%
Single Family	$212,000	6.5%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Hancock, MI

As of July '25, Rentcast reports the average rent in Hancock, MI is $1,790, with a year-over-year rent change of 36.6%. Per bedroom, the median rent as of July '25 in Hancock, MI is 2-bedrooms: $2,040, 3-bedrooms: $1,900, 4-bedrooms: $1,240. The most common rental property sizes in Hancock, MI are 3-bedroom and 1-bedroom, accounting for 35.3% and 27.3% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,850	$1,790
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	$1,580	$2,040
3 Bed Rent	$1,850	$1,900
4 Bed Rent	$625	$1,240

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% of Rental Stock

Studio

6.3%

1 Bedroom

27.3%

2 Bedrooms

26.1%

3 Bedrooms

35.3%

4 Bedrooms

5.0%

Property Listings — Hancock, MI

As of Nov '25, Realtor.com reports that the median days on market for a home in Hancock, MI is 70. This is a increase of 19.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$275,000	18.0%
Listing Count	22	25.0%
Listings as % of Homes	0.2%	25.0%
Days on Market	70	19.0%

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Demographics — Hancock, MI

As of the latest ACS Survey released in 2023, Hancock, MI has a population of 7,200, which has decreased by -1.1% over the past 5 years. Hancock, MI is a moderately popular place for families, as children make up 19.3% of the population. The area has a moderately educated workforce, with 43.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.8% reporting working from home.

Metric	Latest Census	YoY % Change
Population	7,200	-1.1%
% Under 18	19.3%	-14.6%
% Seniors	18.9%	2.7%
% WFH	15.8%	378.8%
% w/ College Degree	43.5%	21.5%

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As of the latest ACS Survey released in 2023, Hancock, MI is a predominantly white area, with 94.4% of the population identifying as white. The white population has grown by 1.3% in the last 5 years. The second most common race or ethnicity in Hancock, MI is hispanic, making up 1.5% of the population. Foreign-born residents account for 3.4% of the population in Hancock, MI, and this percentage has decreased by 20.9% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	94.4%	1.3%
% Black	0.7%	250.0%
% Hispanic	1.5%	-34.8%
% Asian	1.3%	-13.3%
% Foreign Born	3.4%	-20.9%

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Mortgage and Risk — Hancock, MI

According to HUD data as of 2023, there were 86 mortgage originations in Hancock, MI, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Hancock, MI. Investor activity is low, as 2.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	86
% Conventional Loans	83.0%
% Government Loans	17.0%
% Investor Loans	2.0%
% Second Loans	10.0%
% Cash Out Refinance	17.0%

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Rentals and Section 8 — Hancock, MI

Hancock, MI lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	171
Total Units Section 8	77
% Rentals under Section 8	N/A
% Occupied Section 8	91.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$780
2 Bedroom	-$650	$1,580	$930
3 Bedroom	-$540	$1,850	$1,310
4 Bedroom	$955	$625	$1,580

Hancock, MI—49930

Key Metrics at a Glance

Home Price Trends — Hancock, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hancock, MI

% of Rental Stock

Property Listings — Hancock, MI

Demographics — Hancock, MI

Race and Ethnicity

Mortgage and Risk — Hancock, MI

Mortgages

Rentals and Section 8 — Hancock, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Hancock, MI

Home Price to Income Ratio

Hancock, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Dollar Bay

Houghton, MI

Dodgeville, MI

Hubbell

Laurium, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.7
Median Home Price	$210,000
Median Household Income	$67,900

Hancock, MI—49930

Key Metrics at a Glance

Home Price Trends — Hancock, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hancock, MI

% of Rental Stock

Property Listings — Hancock, MI

Demographics — Hancock, MI

Race and Ethnicity

Mortgage and Risk — Hancock, MI

Mortgages

Rentals and Section 8 — Hancock, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Hancock, MI

Home Price to Income Ratio

Hancock, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Dollar Bay

Houghton, MI

Dodgeville, MI

Hubbell

Laurium, MI

Frequently Asked Questions

What is the average home price in Hancock, MI 49930?

How have home prices in Hancock, MI 49930 changed over the past year?

What is the home price projection for Hancock, MI 49930?

What are the demographics of Hancock, MI 49930?

How long does it take homes to sell in Hancock, MI 49930?

What is the average rent price in Hancock, MI 49930?