Hancock County, Kentucky 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 83% below the Kentucky median Cheaper than 93% of counties in Kentucky$19,791
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Median rent 24% below the Kentucky median$739
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Hancock County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $19,791 | $118,017 | $248,835 |
| Price Trend (Annual %) | 13.8% | 3.8% | 7.5% |
| Median Gross Rent | $739 | $967 | $1,407 |
| Rent Trend (Annual %) | 4.0% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hancock County is about 83% lower than in Kentucky. Rent is about 24% lower than the Kentucky 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 13.8% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Hancock County rose about 37.3% between 2015 and 2024, from $538 to $739. Over the same span, rent in Kentucky rose about 43.3%.
Affordability
On average, housing unit costs 0.3 yearly household incomes in Hancock County.
Buying the median-priced home in Hancock County costs roughly 2.2 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Hancock County. The price-to-rent ratio in Kentucky is about 10.2.
| Metric | Hancock County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $19,791 | $118,017 | $248,835 |
| Median Household Income | $64,984 | $64,312 | $80,455 |
| Price-to-Income Ratio | 0.3 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Hancock County fell about 76.1%, while median household income rose about 40.6% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Hancock County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.5% | 61.3% | 58.5% |
| Rental Rate | 21.2% | 28.4% | 31.2% |
| Vacancy Rate | 7.4% | 10.3% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Hancock County has a homeownership rate of 71.5%, higher than the Kentucky average of 61.3%. Its housing vacancy rate is 7.4%, compared with 10.3% in Kentucky.
Housing Stock
| Metric | Hancock County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.46 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1978 | 1981 | 1978 |
| Median Number of Rooms | 6.0 | 5.7 | 5.5 |
The typical housing unit in Hancock County was built around 1978. On average, 2.5 people live in a home with about 6.0 rooms, staying for about 17.0 years on average.
Hancock County, KY Housing Compared With Nearby Counties
Hancock County, KY is the smallest of the 5 counties compared here, 9,034 residents against a local median of 22,307. Hancock County, KY's median home price, at $19,791, runs 88% below the $170,907 typical of the counties around it.
The counties themselves spread $193,035 on median home price, so Hancock County, KY sits at one end of an already wide local range rather than apart from it. Hancock County, KY has the 4th highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Hancock County, KY | 9,034 | $19,791 #4/5 | $739 #3/5 | 77.2% #4/5 |
| Spencer County, IN | 19,953 | $169,349 | $751 | 81.3% |
| Daviess County, KY | 103,589 | $212,371 | $918 | 68.1% |
| Breckinridge County, KY | 20,880 | $172,465 | $732 | 81.4% |
| Ohio County, KY | 23,735 | $19,336 | $738 | 77.2% |
Frequently Asked Questions
Common questions about the housing market in Hancock County, Kentucky.
What is the median home price in Hancock County, Kentucky?
The median home price in Hancock County, Kentucky is $19,791, lower than the Kentucky average of $118,017.
What is the average home price in Hancock County, Kentucky?
The typical home price in Hancock County, Kentucky, reported as the median sale price, is $19,791. 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, Kentucky?
The median gross rent in Hancock County, Kentucky is $739 per month, lower than the Kentucky average of $967.
What was the median gross rent in Hancock County in 2020?
In 2020, the median gross rent in Hancock County, Kentucky was $670 per month.
What is the price-to-rent ratio in Hancock County, Kentucky?
The price-to-rent ratio in Hancock County, Kentucky is about 2.2, meaning it would take roughly 2.2 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Hancock County.
Are home prices or rent rising faster in Hancock County, Kentucky?
Both home prices and rent are rising in Hancock County, up about 13.8% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hancock County, Kentucky?
71.5% of households in Hancock County, Kentucky own their home, higher than the Kentucky average of 61.3%.
What is the vacancy rate in Hancock County, Kentucky?
The housing vacancy rate in Hancock County, Kentucky is 7.4%, lower than the Kentucky average of 10.3%.
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