Housing decision brief
Hancock County, TN Housing Market
Hancock County screens as a below-state purchase price, below-state rent, a manageable tax-rate signal market. Use the page as a decision brief, not just a price lookup, because local income, taxes, and data confidence change how affordable the county really is.
7th lowest home value out of 95 Tennessee counties with data | 5th lowest rent out of 95
Median home value
$134,500
Purchase-price signal from Census ACS.
Median rent
$622/mo
Gross rent, including utilities where reported.
Monthly owner cost
$398/mo
Owner costs before individual loan terms.
Decision snapshot
Read this county in four signals.
Buy screen
3.8x
Median home value divided by local household income.
Rent burden
33.5%
At or above the 30% burden threshold.
Rent vs own
$224/mo
Median owner cost screens below median rent.
Data confidence
2 notes
Home-value estimate has a $36,424 ACS margin of error.
What Works
Lower purchase price
$134,500 median home value is 34% below Tennessee county median
Lower rent
$622/mo is 26% below Tennessee county median
Owning screens cheaper than renting
Median owner costs are $224/mo below median rent before individual mortgage terms.
Low disaster-risk signal
Risk score is 88.1 out of 100, a stronger cross-check for long-term ownership costs.
What to Check
Lower income base
$34,960 median income is 41% below Tennessee county median
Health context
Health score is 18.2 out of 100, so affordability should be weighed against local health indicators.
Crime data coverage
Crime data coverage is partial. Treat zero or low crime rates as incomplete until you check the source coverage.
Wide home-value margin
The ACS margin of error on home value is $36,424, so exact rankings should be read as directional.
Best Fit For
- Households weighing ownership against renting
- Long-term owners who care about disaster-risk exposure
- Remote earners or cash buyers looking below the state price line
Poor Fit For
- Households dependent on a deep local wage market
- Anyone treating reported crime rates as complete without source context
County vs State vs National
The county number only matters after you see the benchmark. These comparisons show where Hancock County is genuinely cheap, where it is average, and where the hidden cost may be.
| Metric | County | State | U.S. | Signal |
|---|---|---|---|---|
Median home value Lower usually helps affordability. | $134,500 | $204,700 | $281,900 | 34% favorable34% below Tennessee county median |
Median gross rent Lower usually helps affordability. | $622 | $839 | $1,163 | 26% favorable26% below Tennessee county median |
Monthly owner cost Lower usually helps affordability. | $398 | $710 | $1,672 | 44% favorable44% below Tennessee county median |
Median household income | $34,960 | $59,341 | $74,755 | 41% pressure41% below Tennessee county median |
Effective property-tax rate Lower usually helps affordability. | 0.45% | 0.47% | 1.02% | 5% favorable5% below Tennessee county median |
Rent burden Lower usually helps affordability. | 33.50% | 26.70% | N/A | 25% pressure33.50% of renter income goes to rent. |
Income Fit
A low price only helps if local income can carry the monthly cost. This panel compares the county income base with rent and owner-cost thresholds.
Rent cushion
+$10,080
Median income minus rent threshold.
Owner cushion
+$17,903
Median income minus owner-cost threshold.
Affordability Advisory
This turns the raw housing numbers into income and buy-versus-rent screens.
Affordability verdict
Housing in Hancock County is affordable. The median rent is $592/month against a median household income of $31,995, putting rent at 22.2% of income.
Rent vs own
Renters in Hancock County pay $592/month on average, compared to $395/month for homeowners. This market favors buyers by about 33%.
Income needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $23,680/year. For owner costs at the 28% rule, the required income is roughly $16,929/year. With a median household income of $31,995, most households can comfortably afford rent here. Notably, 31.0% of renter households in Hancock County are cost-burdened, spending more than 30% of income on housing.
Regional context
Compared to Unicoi County where rent averages $665/month, Hancock County is approximately 11% less expensive.
Better Counties to Compare
Similar counties are matched on home value, rent, income, and state context. This is more useful than a simple nearest-price list.
| County | Home Value | Rent | Why compare |
|---|---|---|---|
| Clay County, TN | $136,400 | $557/mo | Same-state comparison near $136,400 home value and $557/mo rent. |
| Scott County, TN | $124,900 | $686/mo | Same-state comparison near $124,900 home value and $686/mo rent. |
| Wayne County, TN | $130,700 | $619/mo | Same-state comparison near $130,700 home value and $619/mo rent. |
| Grundy County, TN | $154,000 | $636/mo | Same-state comparison near $154,000 home value and $636/mo rent. |
| Luna County, NM | $128,000 | $650/mo | Out-of-state peer near $128,000 home value and $650/mo rent. |
Data Confidence
- Home-value estimate has a $36,424 ACS margin of error.
- Crime coverage is partial, so safety comparisons need source context.
Next Checks
Housing Questions for Hancock County
Is Hancock County affordable for buying a home?
Is renting or owning cheaper in Hancock County?
How much income do you need for housing in Hancock County?
What should I double-check before moving to Hancock County?
Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.