Hancock, Michigan.
Typical home $230,258 (+9.5% in a year). Houghton, MI metro.
to buy the typical home at today's mortgage rate — +$667 (+123%) since Jan 2020.
- 1 year
- Up $19,987 +10%
- $210,271$230,258 since Sep 2025
- 5 years
- Up $49,590 +27%
- $180,668$230,258 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Hancock$1,209
- Michigan$1,384
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 14 years.
Typical home values in Hancock, MI rose 9.5% over the past year — faster than the nation's +1.2%.
Living in Hancock, Houghton County, Michigan
Hancock is a city of 4,501 people in Houghton County. 56% of its homes are lived in by their owners and 44% are rented. Unemployment in Houghton County was 5.1% in August 2026, and the county had 2.9% more jobs in 2025 than the year before. The most residents work in schools and health care, then restaurants and hotels.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Hancock is a small city on the Keweenaw Peninsula, home to more adults with a four-year degree than in most American towns. Winters are long and cold, with January the coldest month and plenty of snow to match, while July brings pleasantly warm days. Most people have a short drive to work, and more homes are lived in by their owners than rented.
Work. Many residents work in schools, hospitals and social care, followed by restaurants, hotels and entertainment, and in shops. Portage Health System, Hancock Public Schools and Keweenaw Co-op are among the largest workplaces in town. Unemployment across Houghton County is a little lower than it was a year ago, and the county has added jobs over the past year.
Things to do. Mont Ripley, a ski area in or beside town, draws people out through the snowy months. The A. E. Seaman Mineral Museum and the Carnegie Museum of the Keweenaw are both in or beside town, and Keweenaw National Historical Park, a protected area, sits there too. A short drive away, McLain State Park offers another protected area to explore.
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- 1,818households
- 45%of adults have a degree
- 19%below the poverty line
- 11 mintypical commute
What residents work in
Employed residents by industry, from the Census survey. Houghton County had 12,476 jobs in 2025, 2.9% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 22° and lows near 10°; warmest in July, with highs near 75° and lows near 55°.
Average daily high and low, 1991–2020, at the Hancock Houghton County Airport weather station, 6 miles away (NOAA).
Largest workplaces in Hancock
- Portage Health SystemGeneral hospital357FTE
- Canal View~Houghton CountySkilled nursing facilities250
- Copper Country ISDSchool district161FTE
- Hancock Public SchoolsSchool district72FTE
- Keweenaw Co-opGrocery stores59
- Intersect Healthcare of HancockSkilled nursing facilities53
- UGL - PediatricsPhysicians' offices23
- UGL - Hancock Family Health CenterFamily physicians' offices20
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 8 workplaces with 20 or more staff, 1,131 people in all. Hospitals come from their Medicare cost reports (CMS, 2023) and school districts from the Common Core of Data (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Winter weatherVery high
- Cold wavesRelatively high
- LightningRelatively moderate
- Inland floodingRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Hancock’s census tracts, against the rest of the country; all of them together, relatively low. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Houghton County and the Houghton, MI metro.
Hancock home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Hancock$230,258
- Michigan$263,760
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 4 Hancock listings — the market is roughly in balance.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Hancock28.26%
- United States26.90%
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Hancock51
New listings per month
Sellers arriving at the market.
- Hancock14
Zip codes with a Hancock address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Hancock — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.