Bancroft, MI is a small city located in Michigan, and is home to many local businesses. Rent for two-bedroom apartments in Bancroft is significantly lower than the national average, at $1,010 compared to $1,430. Grocery costs are also much more affordable in Bancroft with an index of 94 compared to 100 nationally. Popular local businesses include Bancroft Market & Deli, Art's Place Bar and Grill, and Bancroft Auto Center. There are also several banks and small retail stores located in the area.
Bancroft has an unemployment rate of 5.6%. The US average is 6.0%.
Bancroft has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 28.8%, which is lower than the US average of 33.5%.
Tax Rates for Bancroft
- The Sales Tax Rate for Bancroft is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Bancroft is 4.3%. 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 $15,920 a year. The US average is $28,555 a year.
- The Median household income of a Bancroft resident is $61,250 a year. The US average is $69,021 a year.