The typical owner-occupied home in Bancroft is worth about $164,200, 61% below the Idaho median of $418,600 and 51% below the national median of $332,700. Owners pay a median $1,713 a year in property taxes, about 1.04% of their home's value, higher than the Idaho rate of 0.49%. The median household earns $78,281 a year, so the median home costs 2.1 times the median income (5.4 times for Idaho). 86% of occupied homes here are lived in by their owners, and 18% of those owners still have a mortgage.
Bancroft at a glance
| Bancroft | Idaho | U.S. | |
|---|---|---|---|
| Median home value | $164,200 | $418,600 | $332,700 |
| Median property tax paid per year | $1,713 | $2,038 | $3,119 |
| Property tax as a share of value | 1.04% | 0.49% | 0.94% |
| Median household income | $78,281 | $77,800 | $80,734 |
| Homes lived in by their owners | 86% | 72% | 65% |
| Owner homes with a mortgage | 18% | 62% | 61% |
| Median monthly costs, owners with a mortgage | $750 | $1,687 | $1,963 |
| Those costs as a share of the owners' income | 13.1% | 20.7% | 21.0% |
| Median rent | $1,104 | $1,238 | $1,413 |
| Rent as a share of renters' income | 18.5% | 28.7% | 30.6% |
| Median year homes were built | 1938 | 1991 | 1980 |
| Vacant homes | 19.2% | 10.3% | 10.1% |
| Population | 250 | 1,934,262 | 334,922,499 |
What a typical home costs per month in Bancroft
At this week's average 30-year rate of 7.11%, buying the median Bancroft home of $164,200 with 20% down costs about $1,094 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,368, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $46,902 for the 20%-down payment. That payment is 17% of the median Bancroft household income of $78,281; at that income and 20% down, the 28% guideline points to a home of about $274,000.
The median rent here is $1,104 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $32,840 |
|---|---|
| Loan amount | $131,360 |
| Principal and interest | $884 |
| Property taxes (1.04% a year) | $142 |
| Homeowners insurance (our estimate, 0.5% a year) | $68 |
| PMI | $0 |
| Total per month | $1,094 |
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| Down payment | $5,747 |
|---|---|
| Loan amount | $161,226 |
| Principal and interest | $1,085 |
| Property taxes (1.04% a year) | $142 |
| Homeowners insurance (our estimate, 0.5% a year) | $68 |
| FHA mortgage insurance | $73 |
| Total per month | $1,368 |
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Questions about home buying in Bancroft
What is the median home value in Bancroft?
About $164,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Bancroft?
Homeowners pay a median $1,713 a year, which is about 1.04% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Bancroft?
For the median home with 20% down at 7.11%, the payment is about $1,094 a month. Keeping that under 28% of gross income takes about $46,902 a year.
More about Bancroft
- Mortgage Refinance in Bancroft
- Debt Relief in Bancroft
- Home Equity Loans in Bancroft
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data