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Hancock County, ME

RANK #601 / 996  ·  POP 55,851  ·  ME

PROJECTED GROWTH: +0.4%

Hancock County shows below-average economic momentum. Growth signals are flat or softening.

[01] Why Hancock County?

Hancock County, Maine, is defined by its rugged coastline and the presence of Acadia National Park, which covers a significant portion of Mount Desert Island. This island, often referred to by locals as "MDI," is home to towns like Bar Harbor, a popular tourist destination, and quieter communities such as Northeast Harbor and Seal Harbor. The county, located in southeastern Maine, is about 50 miles southeast of Bangor, the nearest major city. Commuting within the county and to nearby areas is facilitated by Downeast Transportation, which offers year-round bus services and a seasonal shuttle for Acadia National Park. The landscape features granite peaks, including Cadillac Mountain, the highest point on the U.S. Atlantic coast, and Somes Sound, a fjord-like inlet. Outdoor recreation opportunities are extensive, with over 120 miles of hiking trails, 45 miles of carriage roads for biking, kayaking, and fishing in numerous lakes and coastal waters.

Life in Hancock County blends a connection to nature with community-oriented living. The public schools in the county are rated above average. Ellsworth, the county seat, serves as a commercial hub and has seen recent growth in housing development. The economy is driven by tourism, commercial fishing, and institutions like Jackson Laboratory in Bar Harbor, known for cancer research. Renewable energy projects, such as the Three Rivers solar facility, also contribute to the economic landscape. While many residents own their homes, the area attracts retirees and remote workers drawn to the natural amenities and community feel.

[02] Market Snapshot

Housing Ratio
4.9x

Above national median (4.7x)

GDP Growth
+2.0%

Below national median

Home Prices
-0.8%

Prices declining

Climate & Terrain
1.9

Moderate climate & terrain

Price/Rent
22x

Prices detached from rents

Housing is fairly valued at 4.9x relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Hancock County U.S. National

The Numbers

DEMOGRAPHICS
Population
55,851
+0.78% YoY
Median Household Income
$64,149
Median Home Value
$250,900
-0.77% 12mo
Median Rent
$949
Average Annual Pay
$53,780
+4.5% YoY
Employment
23,631
+1.6% YoY
Income-to-Home-Value
0.2557
More affordable than average
Migration Inflow
2.7%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$424,000
Days on Market
77
Slower market
Months of Supply
8.0
Buyer's market
Sale-to-List Ratio
93.9%
Negotiation room for buyers
Sold Above List
13.8%
Listings w/ Price Drops
15.5%
Building Permits (2024)
259
Single-Family Permits
245

Source: Redfin · Census BPS — Browse sales on Redfin →

[06] Score Breakdown

GDP Growth +2.0% 34 percentile
Population Growth +0.8% 64 percentile
Income Growth +6.3% 10 percentile
Vacancy Rate 0.8% 70 percentile
Home Price Change -0.8% 23 percentile
Price/Rent 22x 4 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Hancock County, ME a good place to move to?

Hancock County has a Boom Town Index score of 40/100, ranking #601 among 996 U.S. counties. With job growth at +1.6% and a median household income of $64,149, it faces some economic headwinds compared to faster-growing counties.

Is Hancock County affordable?

The median home value in Hancock County is $250,900 with median rent at $949/month. The income-to-home-value ratio is 0.2557, which is more affordable than the national average.

Is Hancock County growing or shrinking?

Population growth: +0.8% year-over-year. Job growth: +1.6%. Home values changed -0.8% in the past 12 months.

Are people moving to Hancock County?

Yes — 2.7% of Hancock County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

Hillsborough County, NH 50 Delaware County, PA 50 Aiken County, SC 50 Minnehaha County, SD 50 Richmond city, VA 50 Livingston Parish, LA 50 Franklin County, NC 50 Frederick County, VA 50