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Population & People
Population
4,526
Median age
31.9
Median household income
$59,519
Poverty rate
19.1%
Unemployment rate
1.7%
Bachelor's degree+
44.6%
Avg. commute
9 min
Hispanic or Latino
1.6%
Source: U.S. Census Bureau, American Community Survey.
Housing & Rent
Median home value
$165,600
Median gross rent
$835/mo
Homeownership rate
55.61%
HUD FMR — 2 bedroom
$1,113
HUD Fair Market Rent (Michigan statewide average across 83 areas — not specific to Hancock), 2026. Efficiency $807, 1BR $891, 2BR $1113, 3BR $1419, 4BR $1588. This is a different official figure from Census median gross rent above.
Energy
Michigan commercial electricity
14.48¢/kWh
Michigan industrial electricity
8.59¢/kWh
Michigan residential electricity
20.01¢/kWh
Economy
Gross Domestic Product: All Industry Total
730067.6
Real Gross Domestic Product: All Industry Total
568865.7
All-Transactions House Price Index for Michigan
584.9
Unemployment Rate
4.9%
Source: FRED, Michigan-specific series.