Bancroft, MI
Population 571 · Michigan
About Bancroft, MI
Bancroft is a small community in Michigan with a population of 571 residents. The median household income is $80,000 per year, which is above the national average. The median age in Bancroft is 34.9 years.
Housing in Bancroft has a median home value of $117,000 and median monthly rent of $920. Of the 214 total housing units, the majority are owner-occupied, with 135 owner-occupied and 61 renter-occupied units.
The unemployment rate in Bancroft is 2.4% and the poverty rate is 7.7%. 13.0% of residents hold a bachelor's degree or higher. The average commute time is 35 minutes.
Cost of Living in Bancroft, MI
Compared to national averages, Bancroft has a median household income of $80,000 (6% above the national median of $75,149). Home values average $117,000, which is 52% below the national median. Monthly rent at $920 is 21% below the US average of $1,163. Within Michigan, Bancroft's income is 21% above the state average of $66,017, and home values are 36% below the state median of $183,391.
Why Live in Bancroft, MI?
Bancroft offers a strong local economy with a median household income of $80,000, well above the national average, and affordable housing with a median home value of $117,000, below the US average of $244,900, and rent that’s lower than the national average at $920/month. Additionally, the city features a strong job market with an unemployment rate of just 2.4%, and a low poverty rate of 7.7%, better than the national average.
Bancroft has a population of 571 with a median age of 34.9 years. Compare Bancroft with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Bancroft
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Martin | 570 | $56,818 | $161,700 | Compare |
| Tekonsha | 579 | $52,679 | $90,700 | Compare |
| Bay Port | 558 | $50,313 | $119,200 | Compare |
| Cement City | 584 | $50,750 | $100,900 | Compare |
| Addison | 585 | $53,056 | $132,700 | Compare |
| Trufant | 586 | $83,750 | $119,600 | Compare |
| South Range | 587 | $54,583 | $85,300 | Compare |
| Suttons Bay | 587 | $123,125 | $524,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Michigan
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Bancroft
What is the population of Bancroft, MI?
The population of Bancroft, MI is 571 according to the latest Census data.
What is the median household income in Bancroft?
The median household income in Bancroft, MI is $80,000 per year.
What is the median home value in Bancroft?
The median home value in Bancroft, MI is $117,000.
What is the average rent in Bancroft?
The median monthly rent in Bancroft, MI is $920.
What is the unemployment rate in Bancroft?
The unemployment rate in Bancroft, MI is 2.4%.