Hancock County, Tennessee 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 98% below the Tennessee median Among the top 3 cheapest counties in Tennessee$5,000
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Median rent 48% below the Tennessee median Among the top 5 cheapest counties in Tennessee$621
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Hancock County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $5,000 | $255,786 | $248,835 |
| Price Trend (Annual %) | -17.8% | 9.9% | 7.5% |
| Median Gross Rent | $621 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 5.5% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hancock County is about 98% lower than in Tennessee. Rent is about 48% lower than the Tennessee average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2022
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Hancock County: home prices fell about 17.8% a year while rent rose about 5.5% a year. That is an unusual pattern worth watching.
Median rent in Hancock County rose about 73.6% between 2015 and 2024, from $358 to $621. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 0.1 yearly household incomes in Hancock County.
Buying the median-priced home in Hancock County costs roughly 0.7 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 Tennessee is about 17.9.
| Metric | Hancock County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $5,000 | $255,786 | $248,835 |
| Median Household Income | $34,955 | $69,901 | $80,455 |
| Price-to-Income Ratio | 0.1 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2022, the median home price in Hancock County fell about 96.2%, while median household income rose about 41.4% 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 | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.4% | 60.1% | 58.5% |
| Rental Rate | 19.5% | 29.7% | 31.2% |
| Vacancy Rate | 23.0% | 10.2% | 10.2% |
| Median Tenure (years) | 20.0 | 14.0 | 15.0 |
| Median Year Moved In | 2006 | 2012 | 2011 |
Hancock County has a homeownership rate of 57.4%, lower than the Tennessee average of 60.1%. Its housing vacancy rate is 23.0%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Hancock County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.38 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1984 | 1986 | 1978 |
| Median Number of Rooms | 5.3 | 5.7 | 5.5 |
The typical housing unit in Hancock County was built around 1984. On average, 2.4 people live in a home with about 5.3 rooms, staying for about 20.0 years on average.
Hancock County, TN Housing Compared With Nearby Counties
Hancock County, TN is the smallest of the 5 counties compared here, 6,852 residents against a local median of 41,868. Hancock County, TN's median home price, at $5,000, runs 97% below the $166,958 typical of the counties around it.
Median rent tells the same story from another angle: $621 against a local median of $761, 18% below it. The counties themselves spread $173,404 on median home price, so Hancock County, TN sits at one end of an already wide local range rather than apart from it. Hancock County, TN has the 5th highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Hancock County, TN | 6,852 | $5,000 #5/5 | $621 #5/5 | 74.6% #2/5 |
| Lee County, VA | 21,899 | $277,925 | $737 | 73.0% |
| Hawkins County, TN | 57,964 | $228,888 | $784 | 80.1% |
| Hamblen County, TN | 65,669 | $105,027 | $857 | 69.8% |
| Harlan County, KY | 25,771 | $104,521 | $678 | 71.6% |
Frequently Asked Questions
Common questions about the housing market in Hancock County, Tennessee.
What is the median home price in Hancock County, Tennessee?
The median home price in Hancock County, Tennessee is $5,000, lower than the Tennessee average of $255,786.
What is the average home price in Hancock County, Tennessee?
The typical home price in Hancock County, Tennessee, reported as the median sale price, is $5,000. 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, Tennessee?
The median gross rent in Hancock County, Tennessee is $621 per month, lower than the Tennessee average of $1,188.
What was the median gross rent in Hancock County in 2020?
In 2020, the median gross rent in Hancock County, Tennessee was $471 per month.
What is the price-to-rent ratio in Hancock County, Tennessee?
The price-to-rent ratio in Hancock County, Tennessee is about 0.7, meaning it would take roughly 0.7 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, Tennessee?
Home prices and rent are moving in opposite directions in Hancock County: home prices fell about 17.8% a year while rent rose about 5.5% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Hancock County, Tennessee?
57.4% of households in Hancock County, Tennessee own their home, lower than the Tennessee average of 60.1%.
What is the vacancy rate in Hancock County, Tennessee?
The housing vacancy rate in Hancock County, Tennessee is 23.0%, higher than the Tennessee average of 10.2%.
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