RentData

Average Rent in Hancock County, IA↑ Rents rising 1.7% YoY🔻 4th cheapest in IA

HUD FY2025 · Official government data · Updated annually · Metro pop. 10,718

Data review: HUD FY2025Sources: HUD, Zillow, Census, BLSMethodologyEditorial standardsReport a correction

Market Overview

Hancock County, IA has rental prices ranging from $646/month to $1,473/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $716/month — 49% below the national average of $1,400/month. With a median household income of $70,212/year, spending $716/month on a 1-bedroom represents 12% of gross income — within the recommended 30% threshold.

How Hancock County Compares

With an average 2-bedroom rent of $877/month, Hancock County ranks #91 most expensive of the 94 cities tracked in Iowa — more affordable than 82% of all US cities in our data.

The Hancock County Rental Market

The Hancock County, IA area has a population of about 10,718 and 18% of households renting rather than owning. That renter share runs below the US average of ~34%, a more homeowner-heavy market where rental inventory can be limited.

Rent Trends

2-bedroom rents in Hancock County, IA have risen by $15/month (1.7%) over the past year, from $862 to $877. Rents have remained relatively stable year over year, indicating a balanced rental market in the area.

Affordability

To afford a 1-bedroom apartment in Hancock County, IA without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $28,640. The local median household income of $70,212 exceeds that threshold by $41,572, making Hancock County relatively accessible compared to local wages.

Economy & Jobs

Hancock County, IA has an unemployment rate of 4.7%, 0.8 percentage points above the national average of 3.9%. A higher unemployment rate can moderate rental demand over time, which may help keep rent growth in check compared to tighter job markets.

Fair Market Rents

HUD FY2025
Studio
$646
Affordable
1 Bedroom
$716
Affordable
2 Bedrooms
$877
↑1.7% YoY
Affordable
3 Bedrooms
$1,182
Affordable
4 Bedrooms
$1,473
Affordable
🔔
Get Rent Alerts
Be notified when rents change in Hancock County
▼

Is Hancock County, IA Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Affordability Index(30% income rule)

To rent a 2BR
$35,080/year
Local median income: $70,212
To buy a median home
—/year
US national median: $75,000
💡 Based on a 2BR rent of $877/month and 20% down on a — home at 7% rate.

Nearby Cities in IAlargest metros in the state

CityStudio1BR2BR3BRHome Value
Omaha$990$1,052$1,261$1,675—
Jasper County$707$711$920$1,265—
Des Moines$954$1,017$1,216$1,632—
Cedar Rapids$681$757$993$1,391—
Iowa City$816$921$1,105$1,548—
Waterloo$684$760$997$1,301—

Rent or Buy in Hancock County?

Break-even analysis and mortgage estimates based on local market data.

Should I Rent or Buy?

Break-even analysis using real Hancock County data

$
Home Value
$350,000
2BR Rent
$877/mo
Mortgage Rate
7%
Monthly P&I
$1,863/mo
🏢 Rent

Renting appears to be the better financial choice for this scenario.

Total monthly buy cost: $2,577/movs rent: $877/mo
Estimates only. Excludes HOA, PMI (if <20% down), closing costs, and tax benefits. Assumes 5% return on invested down payment.

Living in Hancock County

Cost of living, job market, crime rates, and moving cost estimates.

Moving Cost Estimator

Estimate your moving costs based on FMCSA public mover data

Select your origin state to see the estimate

Estimates based on FMCSA average mover rates. Get at least 3 binding quotes from licensed movers. Protect your move →

Frequently Asked Questions

Explore More

🏘️Neighborhoods in Hancock County

Compare rent & home prices by neighborhood

💵Rent Affordability in Hancock County

Salary needed to afford rent here

🗺️All Cities in IA

See how Hancock County ranks statewide

⚖️Compare Hancock County

Side-by-side rent & cost of living with any city

📋IA Tenant Rights

Deposit limits, eviction laws & renters protections