Living in Bancroft, Michigan
Cost of living, income, home prices, rent and demographics of Bancroft · Census data 2020–2024
Bancroft has 469 residents with a median age of 34.8. The median household income is $90,000 (23% higher than the Michigan median), the median home value is $135,600, the median rent is $944/month.
Bancroft is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Bancroft at a glance
- Population
- 469
- Median age
- 34.8State: 40.2
- Median household income
- $90,000State: $72,875
- Median home value
- $135,600State: $231,600
- Median rent
- $944/moState: $1,129
- Homeowners
- 71%
- Bachelor's degree or higher
- 11.3%
- Average commute
- 34 min
Is Bancroft a good place to live?
Pros: Median household income 23% higher than the Michigan median; home values 41% lower than the state median; unemployment of 0.8%; a poverty rate of 9.8%.
Cons: An average commute of 34 minutes.
The weather is best in June to September.
Cost of living in Bancroft
Housing is the biggest part of the cost of living. In Bancroft the median home value is $135,600, 59% lower than the U.S. median. Renters pay a median of $944 per month, which is 9% of household income. Homeowners with a mortgage pay $1,234 a month in housing costs.
Bancroft median household income
The median household income in Bancroft is $90,000 and the income per person is $38,386. 9.8% of residents live below the poverty line (Michigan: 13.2%).
Housing in Bancroft: homes for sale and rent
- Housing units
- 200
- Owner-occupied
- 71%
- Renter-occupied
- 29%
- Vacant
- 12%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 2.66
Bancroft demographics
- Population
- 469
- Median age
- 34.8
- Under 18
- 23.7%
- 65 and older
- 11.5%
- Households
- 176
- Foreign-born
- 0.4%
- Veterans
- 8.1%Adults 18+
Hispanic or Latino can be of any race. Population history of Bancroft ›
Education in Bancroft
11.3% of adults 25 and older in Bancroft have a bachelor's degree or higher (Michigan: 32.4%), and 3.9% have a graduate or professional degree.
Jobs and commute in Bancroft
- Unemployment rate
- 0.8%State: 5.7%
- Average commute
- 34 minState: 24 min
- Work from home
- 2.9%
- Drive alone
- 86.1%
- Public transit
- 0%
- Walk to work
- 2.5%
- Homes with broadband
- 96.6%
Bancroft vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Bancroft | 469 | $90,000 | $135,600 | $944 |
| Durand | 3,483 | $66,743 | $140,300 | $851 |
| Vernon | 697 | $69,625 | $133,400 | $1,250 |
| Morrice | 1,550 | $66,071 | $121,900 | $1,010 |
| Byron | 617 | $58,958 | $165,400 | $980 |
| Corunna | 3,037 | $46,141 | $151,000 | $932 |
| Gaines | 552 | $62,083 | $134,800 | $850 |
| Perry | 2,073 | $75,321 | $164,000 | $1,091 |
| Middletown | 799 | $46,250 | $90,700 | $869 |
More for people moving to Bancroft
Bancroft ZIP code ›Weather and climate ›Living in Bancroft: FAQ
What is the median household income in Bancroft, MI?
The median household income in Bancroft is $90,000, 23% higher than the Michigan median of $72,875 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Bancroft?
The median home value in Bancroft is $135,600, compared with $231,600 in Michigan.
How much is rent in Bancroft?
The median gross rent in Bancroft is $944 per month, about 9% of household income.
Is Bancroft, MI a good place to live?
Pluses: median household income 23% higher than the Michigan median; home values 41% lower than the state median; unemployment of 0.8%; a poverty rate of 9.8%. Minuses: an average commute of 34 minutes.
What is the median age in Bancroft?
The median age in Bancroft is 34.8 years (Michigan: 40.2).
How long is the commute in Bancroft?
The average commute to work in Bancroft is 34 minutes; 2.9% of workers work from home.
What is the unemployment rate in Bancroft?
The unemployment rate in Bancroft is 0.8% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Bancroft?
11.3% of adults in Bancroft have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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