Hancock County, Indiana Housing Market Prices
Hancock County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 170% above the Indiana median Among the 3 most expensive counties in Indiana$385,184
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Median rent 13% above the Indiana median More expensive than 95% of counties in Indiana$1,202
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Hancock County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $385,184 | $142,738 | $248,835 |
| Price Trend (Annual %) | 16.9% | 7.2% | 7.5% |
| Median Gross Rent | $1,202 | $1,062 | $1,407 |
| Rent Trend (Annual %) | 4.5% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hancock County is about 170% higher than in Indiana. Rent is about 13% higher than the Indiana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Hancock County, up about 16.9% and 4.5% a year respectively. Home prices are changing faster.
Median rent in Hancock County rose about 44.5% between 2015 and 2024, from $832 to $1,202. Over the same span, rent in Indiana rose about 42.6%.
Affordability
On average, housing unit costs 4.1 yearly household incomes in Hancock County.
Buying the median-priced home in Hancock County costs roughly 26.7 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Hancock County. The price-to-rent ratio in Indiana is about 11.2.
| Metric | Hancock County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $385,184 | $142,738 | $248,835 |
| Median Household Income | $95,052 | $71,967 | $80,455 |
| Price-to-Income Ratio | 4.1 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Hancock County rose about 207.2%, while median household income rose about 48.1% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Hancock County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 77.4% | 64.4% | 58.5% |
| Rental Rate | 19.9% | 26.9% | 31.2% |
| Vacancy Rate | 2.6% | 8.8% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Hancock County has a homeownership rate of 77.4%, higher than the Indiana average of 64.4%. Its housing vacancy rate is 2.6%, compared with 8.8% in Indiana.
Housing Stock
| Metric | Hancock County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.49 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1985 | 1975 | 1978 |
| Median Number of Rooms | 6.5 | 5.9 | 5.5 |
The typical housing unit in Hancock County was built around 1985. On average, 2.5 people live in a home with about 6.5 rooms, staying for about 15.0 years on average.
Hancock County, IN Housing Compared With Nearby Counties
Hancock County, IN is the 4th largest of the 5 counties compared here, 84,037 residents against a local median of 248,478. Hancock County, IN's median home price, at $385,184, runs 142% above the $159,097 typical of the counties around it.
The counties themselves spread $209,224 on median home price, so Hancock County, IN sits at one end of an already wide local range rather than apart from it. Hancock County, IN has the highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Hancock County, IN | 84,037 | $385,184 #1/5 | $1,202 #2/5 | 79.5% #1/5 |
| Shelby County, IN | 45,265 | $171,773 | $986 | 72.5% |
| Madison County, IN | 131,900 | $129,779 | $939 | 70.2% |
| Marion County, IN | 971,946 | $146,421 | $1,152 | 56.5% |
| Hamilton County, IN | 365,056 | $339,003 | $1,574 | 76.1% |
Frequently Asked Questions
Common questions about the housing market in Hancock County, Indiana.
What is the median home price in Hancock County, Indiana?
The median home price in Hancock County, Indiana is $385,184, higher than the Indiana average of $142,738.
What is the average home price in Hancock County, Indiana?
The typical home price in Hancock County, Indiana, reported as the median sale price, is $385,184. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Hancock County, Indiana?
The median gross rent in Hancock County, Indiana is $1,202 per month, higher than the Indiana average of $1,062.
What was the median gross rent in Hancock County in 2020?
In 2020, the median gross rent in Hancock County, Indiana was $919 per month.
What is the price-to-rent ratio in Hancock County, Indiana?
The price-to-rent ratio in Hancock County, Indiana is about 26.7, meaning it would take roughly 26.7 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Hancock County.
Are home prices or rent rising faster in Hancock County, Indiana?
Both home prices and rent are rising in Hancock County, up about 16.9% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hancock County, Indiana?
77.4% of households in Hancock County, Indiana own their home, higher than the Indiana average of 64.4%.
What is the vacancy rate in Hancock County, Indiana?
The housing vacancy rate in Hancock County, Indiana is 2.6%, lower than the Indiana average of 8.8%.
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