What is the median household income in Bancroft Township, MN?
The median household income in Bancroft Township, MN is $105,417 (±$16,331) a year (2020–2024 American Community Survey).
In Bancroft Township, the median household income went from $84,583 in 2015–2019 to $105,417 in 2020–2024 (+24.6%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Figures last updated on .
- Median household income
- $105,417 (±$16,331)
- Median renter income
- $41,042 (±$15,582)
Income in Bancroft Township against Freeborn County, its state and the nation
| Bancroft Township | Freeborn County | Minnesota | United States | |
|---|---|---|---|---|
| Median household income | $105,417 (±$16,331) | $71,023 (±$1,725) | $89,062 (±$409) | $80,734 |
| Median renter household income | $41,042 (±$15,582) | $34,531 (±$2,560) | $51,080 (±$531) | $52,966 |
| Median owner household income | $110,500 (±$22,419) | $79,415 (±$3,108) | $108,214 (±$476) | $100,009 |
| Median gross rent | — | $849 (±$50) | $1,280 (±$7) | $1,413 |
In Bancroft Township, median household income is higher than in Freeborn County ($71,023).
It is also higher than in Minnesota ($89,062).
It is higher than the national figure ($80,734).
In Freeborn County, Bancroft Township ranks 4 of 34 places with a published estimate, from highest to lowest median household income.
Statewide, it ranks 526 of 2,568.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
Income against housing costs since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median household income | $84,583 (±$7,226) | $105,417 (±$16,331) | +24.6% | No measurable change after inflation |
| Median home value | $194,600 (±$28,012) | $260,300 (±$24,018) | +33.8% | No measurable change after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Median household income in places near Bancroft Township
| Place | Distance | Median household income | Compared with this place |
|---|---|---|---|
| Bancroft Township | — | $105,417 (±$16,331) | — |
| Clarks Grove | 3.1 mi | $73,750 (±$9,454) | Lower |
| Albert Lea | 4.6 mi | $64,603 (±$5,663) | Lower |
| Manchester | 5.2 mi | $68,750 (±$35,678) | Not measurably different |
| Riceland Township | 5.7 mi | $91,250 (±$21,736) | Not measurably different |
| Albert Lea Township | 6.3 mi | $75,000 (±$18,859) | Lower |
| Manchester Township | 6.6 mi | $85,000 (±$14,660) | Not measurably different |
| Bath Township | 6.7 mi | $104,375 (±$17,425) | Not measurably different |
| Hayward | 7.0 mi | $61,250 (±$16,413) | Lower |
Nearby places with a measurably lower figure: Clarks Grove, MN ($73,750), Albert Lea, MN ($64,603), Albert Lea Township, MN ($75,000).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median household income across Freeborn County, place by place
| Rank | Place | Median household income |
|---|---|---|
| 1 | Hayward Township | $120,278 (±$15,602) |
| 2 | Hartland Township | $110,781 (±$27,366) |
| 3 | Nunda Township | $109,167 (±$19,774) |
| 4 | Bancroft Township | $105,417 (±$16,331) |
| 5 | Bath Township | $104,375 (±$17,425) |
| 6 | Oakland Township (Freeborn County) | $102,500 (±$25,994) |
| 7 (tie) | Freeman Township | $93,750 (±$18,120) |
| 7 (tie) | Newry Township | $93,750 (±$15,334) |
| 9 | Riceland Township | $91,250 (±$21,736) |
| 10 | Mansfield Township | $90,156 (±$20,935) |
Showing 10 of 34 places in Freeborn County, ranked from highest to lowest.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Bancroft Township
What is the median household income in Bancroft Township?
The median household income in Bancroft Township is $105,417 (±$16,331) a year (2020–2024 American Community Survey).
Have incomes in Bancroft Township kept up with inflation?
In Bancroft Township, the median household income went from $84,583 in 2015–2019 to $105,417 in 2020–2024 (+24.6%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
What do renters earn in Bancroft Township?
The median renting household in Bancroft Township, MN earns $41,042 (±$15,582) a year.
Sources
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Bancroft township, Freeborn County, Minnesota
- Median Household Income by Tenure (B25119), 2020–2024 ACS 5-year estimates — Bancroft township, Freeborn County, Minnesota
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Bancroft township, Freeborn County, Minnesota
- Median Household Income (B19013), 2015–2019 ACS 5-year estimates — Bancroft township, Freeborn County, Minnesota
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Bancroft township, Freeborn County, Minnesota
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Bancroft township, Freeborn County, Minnesota
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Bancroft township, Freeborn County, Minnesota (county subdivision:03466, in state:27 county:047).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B19013_001E, B19013_001M, B25064_001E, B25064_001M, B25077_001E, B25077_001M from the 2019 release.
The API needs a free key.
DP03_0062E, DP03_0062M, B25119_003E, B25119_003M, B25119_002E, B25119_002M, DP04_0134E, DP04_0134M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
Related
- Housing in Bancroft Township at a glance
- Home values in Bancroft Township
- Homeowner costs in Bancroft Township
- Property taxes in Bancroft Township
- Types of homes in Bancroft Township
- Bedrooms in Bancroft Township
- Age of homes in Bancroft Township
- Heating fuel in Bancroft Township
- Commute and cars in Bancroft Township
- Minnesota landlord and tenant rules
- Housing across Freeborn County
- Minnesota places ranked by median household income
- Housing data for every place in Minnesota