Bancroft, MN is a small town located in the United States. It has a population of around 4,000 people making it an ideal location for those looking for a peaceful and cozy atmosphere. The cost of living is much lower than the national average with the average two bedroom rent being $900 compared to $1,430 nationally. The grocery cost index in Bancroft is 94 versus 100 in the US which further emphasizes its affordability. \nThe town provides lots of job opportunities such as working at local businesses like Bancoft State Bank, Quizno's Subs and Dairy Queen. Living here also offers plenty of recreational activities such as fishing, golfing and hiking due to its close proximity to several lakes and parks. There are many benefits to living in Bancroft, MN; from low cost of living to various job opportunities and recreational activities.
Bancroft has an unemployment rate of 4.5%. The US average is 6.0%.
Bancroft has seen the job market decrease by -0.4% over the last year. Future job growth over the next ten years is predicted to be 22.6%, which is lower than the US average of 33.5%.
Tax Rates for Bancroft
- The Sales Tax Rate for Bancroft is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Bancroft is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Bancroft
- The average income of a Bancroft resident is $28,752 a year. The US average is $28,555 a year.
- The Median household income of a Bancroft resident is $89,779 a year. The US average is $69,021 a year.