Gilmore City, IA vs Hancock, IA

Gilmore City is moderately more affordable than Hancock, with a 9.4% lower cost of living index. Gilmore City scores 58 compared to 65 for Hancock, where the US average is 100. This difference means residents of Hancock can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Gilmore City is $654/month compared to $794/month in Hancock — a 18% difference. Home values follow the same pattern: Gilmore City is more affordable at $82,700 median vs $98,300.

Median household income in Gilmore City is $51,250 compared to $79,375 in Hancock (-35.4%). While Hancock is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Gilmore City spend roughly 15.3% of their income on rent, more than the 12% in Hancock.