HomeMichiganHoughton CountyHancock city
Hancock city, Michigan: commercial real estate data.
Hancock city is a Census city of 4,574 people across 2.78 square miles of land, in Houghton County. Median household income is $59,519, 55.6 percent of occupied homes are owned, and the SBA record carries 8 7(a) approvals to borrowers here worth $1.9 m.
80 sourced place values · tier FULL · 9 sections
Hancock
What Hancock is
- Census place typecity
- Land area2.78 sq mi
- Water area0 sq mi
- Population per square mile of land1,646
- County holding the largest share of its areaHoughton County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Hancock
How many people live in Hancock
- Population4,574
- Median age31.9 plus or minus 7.0
- Population under 18669 plus or minus 181
- Share under 1814.6 percent plus or minus 4.0
- Population 65 and over900
- Share 65 and over19.7 percent
- Households1,818
- Family households846
- Share of households that are families46.5 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Hancock
Income and work in Hancock
- Median household income$59,519 plus or minus $15,467
- Per capita income$34,311
- Civilian labor force2,314
- Employed2,273
- Unemployed41 plus or minus 43
- Unemployment rate1.8 percent plus or minus 1.9
- Adults 25 and over2,820
- Adults 25 and over with a high school diploma or higher97.8 percent
- Adults 25 and over with a bachelor degree or higher44.6 percent
- Adults 25 and over with a graduate degree16.1 percent plus or minus 4.8
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Hancock
Housing in Hancock
- Housing units2,090
- Occupied units1,818
- Vacant units272 plus or minus 124
- Vacancy rate13.0 percent plus or minus 5.8
- Owner occupied1,011
- Renter occupied807
- Ownership rate55.6 percent
- Median owner-occupied home value$165,600 plus or minus $34,375
- Median gross rent, monthly$835
- Annual rent as a share of median income16.8 percent plus or minus 4.9
- Single family units1,334
- Share single family63.8 percent
- Units in buildings of two or more691 plus or minus 169
- Share in buildings of two or more33.1 percent plus or minus 7.4
- Mobile homes65 plus or minus 47
- Median year structure built1953
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Hancock
How Hancock gets to work
- Workers 16 and over who commute1,852
- Commuting under 15 minutes1,401
- Share commuting under 15 minutes75.6 percent
- Commuting 30 minutes or more90 plus or minus 56
- Share commuting 30 minutes or more4.9 percent plus or minus 2.9
- Drove alone63.2 percent
- Carpooled8.7 percent plus or minus 5.2
- Public transport1.0 percent plus or minus 1.4
- Walked6.7 percent plus or minus 3.7
- Worked from home19.5 percent plus or minus 14.7
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Hancock
SBA 7(a) lending to Hancock borrowers
- Approvals8
- Gross approval$1,922,200
- Average approval$240,275
- Median approval$100,200
- Ninetieth percentile approval$780,000
- Largest approval$780,000
- Jobs supported41
- Jobs per approval5.1
- Loans with a final outcome2
- Paid in full2
- Charged off0
- Median term120 months
- Share on real estate terms of 20 years or more0.0 percent
- Share to franchises0.0 percent
- Distinct lenders3
- Distinct industries by NAICS6
A charge-off rate is not published here. only 2 resolved loans, too few to publish a rate, and a rate over that few outcomes would move several points on one loan.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Hancock
SBA 504 lending to Hancock borrowers
- Approvals1
- Gross approval$210,000
- Average approval$210,000
- Median approval$210,000
- Largest approval$210,000
- Jobs supported0
- Loans with a final outcome0
- Charged off0
- Median term300 months
- Distinct CDCs1
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Hancock
Flood programme status in Hancock
- Listed NFIP communities1
- Of those, participating1
- NFIP community number260087
- Currently effective map date(NSFHA)
This community carries no Community Rating System class, so no CRS premium discount applies to it.
FEMA, National Flood Insurance Program Community Status Book, Community Status Book, as retrieved.
Houghton County, not Hancock
Houghton County context, not Hancock figures
These are Houghton County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Hancock measurements.
- Establishments in Houghton County891
- Employment at those establishments, Houghton County9,246
- Covered employment, Houghton County12,124
- Average annual pay, Houghton County$54,867
- Average weekly wage, Houghton County$1,055
- Housing units permitted, Houghton County111
- Of those, single family, Houghton County103
- County product, 2024, Houghton County$1,588,874,000
- County product change over the prior year, Houghton County7.0 percent
- Average income of an arriving household, Houghton County$64,949
Every figure in this section is published for Houghton County as a whole and is not a measurement of Hancock. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
Common questions
Hancock questions, answered from the record.
How many people live in Hancock, Michigan?
4,574, in 1,818 households. Hancock city covers 2.78 square miles of land, which is 1,646 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Hancock in?
Houghton County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Hancock?
$59,519. The median owner-occupied home is valued at $165,600. Median gross rent is $835 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Hancock businesses?
8 7(a) approvals totalling $1.9 m, across 3 lenders, median approval $100,200, plus 1 504 approvals worth $210,000. These count approvals to borrowers whose address is in Hancock, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Hancock borrowers get paid back?
No rate is published for Hancock. only 2 resolved loans, too few to publish a rate, and a percentage over that few outcomes would move several points on a single loan. The counts are shown instead.
Is Hancock in the National Flood Insurance Program?
Yes. Hancock appears in the FEMA Community Status Book as community 260087, with no Community Rating System class, so no CRS discount applies. Whether a specific parcel sits in a mapped special flood hazard area is an address level question the platform answers.
Are the county figures on this page Hancock figures?
No, and they are labelled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Houghton County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Hancock.
Is zoning published for Hancock?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.