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Affordable
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These days, finding an affordable place to live in the Bancroft area can be challenging. Home prices in Bancroft are now at a median cost of $233,257, lower than the Minnesota average of $345,793.
The average cost of rent is $885/mo in Bancroft, primarily driven by the current value of real estate in the Bancroft area. In Bancroft, 13.32% of households rent, and 48.25% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Bancroft is $6,749 per month. Households that rent pay about 13.11% of their income on rent here. Bancroft’s most expensive areas are in the central regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Oakland, MN: less expensive homes
- Clarks Grove, MN: equally priced homes
- Albert Lea, MN: less expensive homes
- Hayward, MN: less expensive homes
- Manchester, MN: equally priced homes
- Hollandale, MN: less expensive homes
- Petran, MN: less expensive homes
- Geneva, MN: less expensive homes
- Twin Lakes, MN: equally priced homes
- Hartland, MN: less expensive homes
Cities with Similar Populations
- DeJarnett, VA: higher priced homes
- Peoria, MO: less expensive homes
- Cuchillo, NM: less expensive homes
- Salado, AZ: less expensive homes
- Skanee, MI: less expensive homes
- Encinal, NM: less expensive homes
- Williamsville, VA: equally priced homes
- Windy, WV: less expensive homes
- Honobia, OK: less expensive homes
- White Hills, AZ: equally priced homes
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