The typical owner-occupied home in Hancock County is worth about $310,400, 5% above the Maine median of $296,600 and 7% below the national median of $332,700. Owners pay a median $2,561 a year in property taxes, about 0.83% of their home's value, lower than the Maine rate of 1.02%. The median household earns $72,744 a year, so the median home costs 4.3 times the median income (4.0 times for Maine). 79% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Hancock County at a glance
| Hancock County | Maine | U.S. | |
|---|---|---|---|
| Median home value | $310,400 | $296,600 | $332,700 |
| Median property tax paid per year | $2,561 | $3,036 | $3,119 |
| Property tax as a share of value | 0.83% | 1.02% | 0.94% |
| Median household income | $72,744 | $74,733 | $80,734 |
| Homes lived in by their owners | 79% | 74% | 65% |
| Owner homes with a mortgage | 53% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,673 | $1,729 | $1,963 |
| Those costs as a share of the owners' income | 21.5% | 20.6% | 21.0% |
| Median rent | $1,061 | $1,139 | $1,413 |
| Rent as a share of renters' income | 30.4% | 29.4% | 30.6% |
| Median year homes were built | 1982 | 1977 | 1980 |
| Vacant homes | 37.3% | 20.6% | 10.1% |
| Population | 56,460 | 1,387,817 | 334,922,499 |
What a typical home costs per month in Hancock County
At this week's average 30-year rate of 7.11%, buying the median Hancock County home of $310,400 with 20% down costs about $2,014 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,532, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $86,335 for the 20%-down payment. That payment is 33% of the median Hancock County household income of $72,744; at that income and 20% down, the 28% guideline points to a home of about $262,000.
The median rent here is $1,061 a month, so owning the median home costs about $953 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $62,080 |
|---|---|
| Loan amount | $248,320 |
| Principal and interest | $1,670 |
| Property taxes (0.83% a year) | $215 |
| Homeowners insurance (our estimate, 0.5% a year) | $129 |
| PMI | $0 |
| Total per month | $2,014 |
Change the numbers in the calculator
| Down payment | $10,864 |
|---|---|
| Loan amount | $304,778 |
| Principal and interest | $2,050 |
| Property taxes (0.83% a year) | $215 |
| Homeowners insurance (our estimate, 0.5% a year) | $129 |
| FHA mortgage insurance | $137 |
| Total per month | $2,532 |
Change the numbers in the calculator
Questions about home buying in Hancock County
What is the median home value in Hancock County?
About $310,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hancock County?
Homeowners pay a median $2,561 a year, which is about 0.83% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Hancock County?
For the median home with 20% down at 7.11%, the payment is about $2,014 a month. Keeping that under 28% of gross income takes about $86,335 a year.
More about Hancock County
- Mortgage Refinance in Hancock County
- Debt Relief in Hancock County
- Home Equity Loans in Hancock County
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data