The Town FilesBancroft, Minnesota
Township in Freeborn County · population 792 (2020 Census)
- Median home
- $260,300
- Household income
- $105,417
- Jan low / Jul high
- 6° / 82°
- Snow a year
- 40 in
- Tornadoes ≤10 mi since 1950
- 36
- Median age
- 46.7
Bancroft is a township of 792 people in Freeborn County, Minnesota. The median home is worth $260,300, below the typical Minnesota town ($301,800). It ranks easier by car than 91% of Minnesota towns, quieter than 83% of Minnesota towns.
How Bancroft ranks
Percentile among Minnesota towns with at least 500 people on The Town Files lifestyle rankings. 50 is typical for the state; 90 means better than 90% of Minnesota towns.
Homes and cost of living
The median home in Bancroft is worth $260,300, below the typical Minnesota town ($301,800). Homes cost about 2.5 times the median household income of $105,417, which is more affordable than 84% of Minnesota towns. 91.2% of households own their home.
| Housing | Bancroft | Typical Minnesota town |
|---|---|---|
| Median home value | $260,300 | $301,800 |
| Median rent | — | $991 |
| Median household income | $105,417 | $87,375 |
| Home value ÷ income | 2.5× | 3.4× |
| Homeownership | 91.2% | 88.6% |
| Median year built | 1960 | 1979 |
| Seasonal / vacation homes | 2.4% | — |
Who lives in Bancroft
| People | Bancroft | Typical Minnesota town |
|---|---|---|
| Median age | 46.7 | 42.7 |
| Age 65 and over | 22.3% | 20.0% |
| Under 18 | 19.8% | — |
| Bachelor's degree or higher | 29.5% | 26.2% |
| Below the poverty line | 3.1% | 6.9% |
| Veterans | 6.0% | — |
| Born outside the U.S. | 1.7% | — |
| Work from home | 12.3% | 11.1% |
| Average commute | 20.5 min | 24.5 min |
| Homes with broadband | 89.5% | 90.2% |
Weather in Bancroft
July highs average 81.6°F and January lows 5.9°F. About 35.8 inches of rain and melted snow fall a year, with 39.5 inches of snow (typical Minnesota town: 47.0 in). Expect about 8 days a year at 90°F or hotter and 159 nights at or below freezing.
Tornadoes, storms and disasters
36 tornadoes have passed within 10 miles of Bancroft since 1950, compared with 14 for the typical Minnesota town. 10 rated (E)F2 or stronger. The strongest, an F4, struck on April 30, 1967 about 1.0 miles from the town center and killed 5. Tornadoes within 10 miles have caused 11 deaths and 55 injuries since 1950. The most recent was on June 26, 2025.
Hail of 1 inch or larger has been reported within 10 miles 47 times; the largest was 3.25 inches on June 27, 1998.
Severe weather in Freeborn County since 1996
Freeborn County has been included in 21 federal disaster or emergency declarations since 1953, most often for flood, tornado, hurricane.
| Declared | Incident | Declaration |
|---|---|---|
| June 28, 2024 | Flood | DR-4797: Severe Storms And Flooding |
| April 7, 2020 | Biological | DR-4531: Covid-19 Pandemic |
| March 13, 2020 | Biological | EM-3453: Covid-19 |
| June 12, 2019 | Flood | DR-4442: Severe Winter Storm, Straight-Line Winds, And Flooding |
| November 2, 2016 | Flood | DR-4290: Severe Storms And Flooding |
Jobs and pay in Freeborn County
Freeborn County had 11,963 jobs in 2024, paying an average of $53,099 a year. Unemployment was 2.7% in 2023; in Bancroft itself the ACS puts it at 2.7%.
Towns near Bancroft
- Clarks Grove, MN3.1 mi · 694 people · home $123,400
- Albert Lea, MN4.6 mi · 18,492 people · home $157,500
- Albert Lea, MN6.3 mi · 602 people · home $257,900
- Geneva, MN7.8 mi · 508 people · home $182,500
- Pickerel Lake, MN9.3 mi · 643 people · home $312,300
- Glenville, MN10.6 mi · 568 people · home $123,300
- Ellendale, MN10.8 mi · 676 people · home $155,200
- Moscow, MN11.6 mi · 538 people · home $202,800
Bancroft questions
Is Bancroft, Minnesota a good place to retire?
On The Town Files lifestyle rankings, Bancroft scores better for retirees than 44% of Minnesota towns and quieter than 83%. 22.3% of residents are 65 or older (median age 46.7).
How much does a house cost in Bancroft?
The median owner-occupied home in Bancroft is valued at $260,300 (Census ACS 2020–2024), against a median household income of $105,417, so homes cost about 2.5 times income. Median rent is — a month.
What is the weather like in Bancroft?
July highs average 81.6°F and January lows 5.9°F (NOAA 1991–2020 normals). It gets about 35.8 inches of precipitation a year and 39.5 inches of snow.
Does Bancroft get tornadoes?
36 tornadoes have passed within 10 miles of Bancroft since 1950 (NOAA Storm Events); the strongest was a F4 on April 30, 1967. The typical Minnesota town has had 14.
- U.S. Census Bureau, American Community Survey 5-year estimates (2020–2024)
- U.S. Census Bureau, 2020 Census and 2025 Gazetteer (2020 / 2025)
- NOAA NCEI U.S. Climate Normals (1991–2020)
- NOAA NCEI Storm Events Database (1950–2026)
- FEMA OpenFEMA Disaster Declarations (this product uses the FEMA OpenFEMA API but is not endorsed by FEMA) (1953–2026)
- NCES Common Core of Data (2023–24)
- BLS Quarterly Census of Employment and Wages; USDA ERS county unemployment (BLS LAUS) (2000–2024)
- The Town Files lifestyle rankings, built from federal demographic, school, crime and housing data (2025)