Bancroft, WV
Population 472 · West Virginia
About Bancroft, WV
Bancroft is a small community located in West Virginia with a population of 472 residents according to the latest US Census Bureau American Community Survey data. The median household income is $75,938 per year, which is 1% above the national median of $75,149. The median age of 29.9 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Bancroft features a median home value of $114,100, which is 53% below the national median of $244,900. This makes Bancroft one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $815, 30% below the national average of $1,163/month. Of the 227 total housing units, 81% are owner-occupied (160 units) and 19% are renter-occupied (37 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Bancroft shows an unemployment rate of 0.8%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 10.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Bancroft have an average one-way commute time of 26.3 minutes.
Education & Demographics
5.5% of Bancroft residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 1.9% White, 0.6% Hispanic or Latino, 0.0% Black or African American, and 1.3% Asian residents, with 1.3% of the population being foreign-born.
How Bancroft Ranks in West Virginia
Cost of Living in Bancroft, WV
Compared to national averages, Bancroft has a median household income of $75,938 (1% above the national median of $75,149). Home values average $114,100, which is 53% below the national median. Monthly rent at $815 is 30% below the US average of $1,163. Within West Virginia, Bancroft's income is 41% above the state average of $54,014, and home values are 11% below the state median of $128,301.
Why Live in Bancroft, WV?
Bancroft offers a strong local economy with a median household income of $75,938, well above the national average, and affordable housing with a median home value of $114,100, below the US average of $244,900, and rent that’s lower than the national average at $815/month. Additionally, the city features a strong job market with an unemployment rate of just 0.8%, and a low poverty rate of 10.0%, better than the national average.
Bancroft has a population of 472 with a median age of 29.9 years. Compare Bancroft with other cities to see how it stacks up, or explore all cities in West Virginia.
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Demographics
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Other Cities in West Virginia
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, WV?
The population of Bancroft, WV is 472 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in West Virginia.
What is the median household income in Bancroft?
The median household income in Bancroft, WV is $75,938 per year, which is 1% above the national median of $75,149.
What is the median home value in Bancroft?
The median home value in Bancroft, WV is $114,100, which is 53% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Bancroft?
The median monthly rent in Bancroft, WV is $815, which is 30% below the national average of $1,163/month.
What is the unemployment rate in Bancroft?
The unemployment rate in Bancroft, WV is 0.8%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Bancroft, WV a good place to live?
Bancroft offers above-average incomes, affordable housing, and a strong job market. With a population of 472 and a median age of 29.9, the city appeals to young professionals and families.
How educated is Bancroft, WV?
5.5% of residents in Bancroft aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Bancroft?
Key cost-of-living indicators for Bancroft, WV: median home value is $114,100 (53% below national), median rent is $815/month, and median household income is $75,938. The home-value-to-income ratio is 1.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Bancroft?
The poverty rate in Bancroft, WV is 10.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Bancroft, WV?
Bancroft's population is 1.9% White, 0.6% Hispanic or Latino, 0.0% Black or African American, 1.3% Asian, and 0.0% two or more races. 1.3% of residents are foreign-born.