Hancock, MN vs Wells, MN

Hancock, MN and Wells, MN have a very similar cost of living, with only a 0.1% difference in their overall index. Hancock scores 63 while Wells scores 62 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Hancock is $738/month compared to $699/month in Wells — a 6% difference. Interestingly, home values tell a different story: while Wells has cheaper rent, Hancock actually has lower median home values ($79,600 vs $93,200).

Median household income in Hancock is $69,712 compared to $58,663 in Wells (+18.8%). 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 Hancock spend roughly 12.7% of their income on rent, less than the 14.3% in Wells.

Climate-wise, Wells is notably warmer with an average of 45.6°F compared to 42.5°F in Hancock. Wells receives more rainfall at 36.3" per year compared to 24.1" in Hancock.