Cost of Living in Bancroft, ID

With a cost of living index of 79, Bancroft, ID is a very affordable place to live. Living here is 21% cheaper than the national average and 8% below the Idaho state average of 87. Bancroft is a small community of 313 residents.

Housing costs are the biggest factor in Bancroft's cost of living. The median monthly rent is $1,075 (18% below the US median of $1,319), and the median home value sits at $167,400 (45% below the national median of $304,900). At current prices, the median home costs roughly 2.2x the median household income — well within traditional affordability guidelines.

The median household income in Bancroft is $76,719, which is 2% higher than the national median of $75,149. Residents spend roughly 17% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.