Michigan · Census place 05080
Bancroft village, MI
Quick answer
Bancroft village has 571 residents, ranking #531 of 745 places in Michigan. Median household income is $80,000, the median home is worth $117,000 and median gross rent runs $920 a month.
- Population
- 571Bancroft village residents
- Median household income
- $80,000Past 12 months, inflation adjusted
- Median home value
- $117,000Owner-occupied units
- Median gross rent
- $920Rent plus utilities, monthly
- Median age
- 34.9 yrsAll residents
- Homeownership rate
- 68.9%Owner-occupied households
What the numbers mean in Bancroft village
Housing cost measured against local earnings.
A household earning the Bancroft village median would spend about 13.8% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 1.5× the median household income; nationally that ratio sits near 4.5×. Poverty affects 7.7% of residents and 68.9% of households own their home.
Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year
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