Hancock, MN vs Pequot Lakes, MN

There is a significant gap in the cost of living between these two cities. Hancock is 19.7% cheaper than Pequot Lakes. With a cost index of 63 vs 78, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Hancock to Pequot Lakes should plan for substantially higher expenses across most categories.

On the housing front, median rent in Hancock is $738/month compared to $792/month in Pequot Lakes — a 7% difference. Home values follow the same pattern: Hancock is more affordable at $79,600 median vs $246,400.

Median household income in Hancock is $69,712 compared to $66,974 in Pequot Lakes (+4.1%). Hancock offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Hancock spend roughly 12.7% of their income on rent, less than the 14.2% in Pequot Lakes.

Climate-wise, both cities share similar average temperatures (42.5°F vs 42.2°F). Pequot Lakes receives more rainfall at 24.5" per year compared to 24.1" in Hancock.