What percentage of people rent in Hancock, MI?
44.4% (±5.9 points) of the occupied homes in Hancock, MI are rented (2020–2024 American Community Survey).
That is 807 renting households against 1,011 that own their home.
In Hancock, the share of households that rent went from 52.1% in 2015–2019 to 44.4% in 2020–2024 (−7.7 percentage points), not a measurable change.
Figures last updated on .
- Households that rent
- 44.4% (±5.9 points)
- Renting households
- 807 (±155)
- Median renter income
- $35,951 (±$4,918)
Who rents and who owns in Hancock
| Hancock | Houghton County | Michigan | United States | |
|---|---|---|---|---|
| Renter-occupied share | 44.4% (±5.9 points) | 28.2% (±1.8 points) | 26.8% (±0.2 points) | 34.8% |
| Renting households | 807 (±155) | 4,034 (±316) | 1,092,179 (±7,674) | 45,017,354 |
| Owning households | 1,011 (±125) | 10,271 (±267) | 2,984,190 (±12,886) | 84,210,142 |
| Average renter household size | 1.8 (±0.3) | 1.8 (±0.1) | 2.1 (±0.0) | 2.3 |
| Average owner household size | 2.6 (±0.3) | 2.5 (±0.1) | 2.5 (±0.0) | 2.6 |
| Median renter household income | $35,951 (±$4,918) | $32,103 (±$3,944) | $42,352 (±$376) | $52,966 |
| Median owner household income | $95,766 (±$19,510) | $77,761 (±$3,131) | $87,130 (±$344) | $100,009 |
In Hancock, the renter share is higher than in Houghton County (28.2%).
It is also higher than in Michigan (26.8%).
It is higher than the national figure (34.8%).
In Houghton County, Hancock ranks 2 of 16 places with a published estimate, from highest to lowest renter share.
Statewide, it ranks 53 of 1,520.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
How renting in Hancock has changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Households that rent | 52.1% (±5.7 points) | 44.4% (±5.9 points) | −7.7 percentage points | Not a measurable change |
| Median gross rent | $580 (±$54) | $835 (±$107) | +44.0% | No measurable change after inflation |
| Median household income | $35,161 (±$5,077) | $59,519 (±$15,467) | +69.3% | No measurable change after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Households that rent in places near Hancock
| Place | Distance | Households that rent | Compared with this place |
|---|---|---|---|
| Hancock | — | 44.4% (±5.9 points) | — |
| Quincy Township (Houghton County) | 1.3 mi | 22.4% (±13.9 points) | Lower |
| Houghton | 2.2 mi | 63.1% (±5.4 points) | Higher |
| Franklin Township (Houghton County) | 3.5 mi | 19.2% (±5.1 points) | Lower |
| Dollar Bay | 4.3 mi | 10.6% (±6.2 points) | Lower |
| Hancock Township | 4.6 mi | 1.5% (±2.1 points) | Lower |
| South Range | 5.1 mi | 27.7% (±11.4 points) | Lower |
| Osceola Township (Houghton County) | 6.7 mi | 8.6% (±4.0 points) | Lower |
| Adams Township (Houghton County) | 6.9 mi | 16.3% (±7.8 points) | Lower |
Nearby places with a measurably lower figure: Quincy Township (Houghton County), MI (22.4%), Franklin Township (Houghton County), MI (19.2%), Dollar Bay, MI (10.6%).
Nearby places with a measurably higher figure: Houghton, MI (63.1%).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Households that rent across Houghton County, place by place
| Rank | Place | Households that rent |
|---|---|---|
| 1 | Houghton | 63.1% (±5.4 points) |
| 2 | Hancock | 44.4% (±5.9 points) |
| 3 | Schoolcraft Township (Houghton County) | 27.4% (±7.0 points) |
| 4 | Portage Charter Township | 26.2% (±9.5 points) |
| 5 | Quincy Township (Houghton County) | 22.4% (±13.9 points) |
| 6 | Calumet Charter Township | 22.1% (±4.1 points) |
| 7 | Franklin Township (Houghton County) | 19.2% (±5.1 points) |
| 8 | Adams Township (Houghton County) | 16.3% (±7.8 points) |
Showing 8 of 16 places in Houghton County, ranked from highest to lowest.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
What you can do on Seayora in Hancock
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Questions about Hancock
How many renters are there in Hancock?
Hancock has an estimated 807 (±155) renting households, 44.4% of its occupied homes (2020–2024 American Community Survey).
Is renting growing in Hancock?
In Hancock, the share of households that rent went from 52.1% in 2015–2019 to 44.4% in 2020–2024 (−7.7 percentage points), not a measurable change.
How big are renting households in Hancock?
A renting household in Hancock has 1.8 people on average, against 2.6 in an owned home.
How much do renters earn in Hancock?
The median renting household in Hancock, MI has an income of $35,951 (±$4,918) a year, against $95,766 for households that own their home.
Sources
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Hancock city, Michigan
- Median Household Income by Tenure (B25119), 2020–2024 ACS 5-year estimates — Hancock city, Michigan
- Selected Housing Characteristics (DP04), 2015–2019 ACS 5-year estimates — Hancock city, Michigan
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Hancock city, Michigan
- Median Household Income (B19013), 2015–2019 ACS 5-year estimates — Hancock city, Michigan
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Hancock city, Michigan (place:36300, in state:26).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are DP04_0047PE, DP04_0047PM, B25064_001E, B25064_001M, B19013_001E, B19013_001M from the 2019 release.
The API needs a free key.
DP04_0047PE, DP04_0047PM, DP04_0047E, DP04_0047M, DP04_0046E, DP04_0046M, DP04_0049E, DP04_0049M, DP04_0048E, DP04_0048M, B25119_003E, B25119_003M, B25119_002E, B25119_002M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
Related
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- Population growth in Hancock
- How long people stay in Hancock
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- Michigan landlord and tenant rules
- Housing across Houghton County
- Michigan places ranked by share of renters
- Housing data for every place in Michigan