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Hancock city, MN

ZIP 56244 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 56244

Median Home Value
$137,500
Median Rent
$595
Affordability Snapshot
$38,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$883/mo PITI).

9%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

1.7x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

19.3 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 56244 in Hancock city, MN, a household would need roughly $38,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $883. That sits below the local median household income ($82,841), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 13% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
81.2%+24% vs US avg
x
Vacancy Rate
12.5%+21% vs US avg
x
Broadband Access
92.8%+7% vs US avg
x
4+ Bedrooms
13.2%-11% vs US avg
x
Built Pre-1939
11.1%-13% vs US avg
x
Built Post-2014
0.1%-98% vs US avg
x
Rent Burden >30%
4.2%-92% vs US avg
x
Mortgage-Free
56.7%+48% vs US avg
x
$137,500
Home Value
$595
Rent
1957
Year Built
2008
Moved In

Residents have lived here since ~2008 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached88.5%
  • 1-unit attached0.5%
  • 2-9 units1.4%
  • 10+ units5.6%
  • Mobile home & other4.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$137,500
Median rent$595
Owner-occupied81.2%
Vacant12.5%
Price-to-income1.7x
Est. income to buy$38,000