Bancroft, IA vs Grafton, IA

Bancroft, IA and Grafton, IA have a very similar cost of living, with only a 2.1% difference in their overall index. Bancroft scores 61 while Grafton scores 59 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Bancroft is $713/month compared to $655/month in Grafton — a 9% difference. Interestingly, home values tell a different story: while Grafton has cheaper rent, Bancroft actually has lower median home values ($88,200 vs $94,600).

Median household income in Bancroft is $48,571 compared to $52,188 in Grafton (-6.9%). Grafton offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Bancroft spend roughly 17.6% of their income on rent, more than the 15.1% in Grafton.