Bancroft, MN housing market
Home prices around Bancroft have risen about 51% over the past 5 years.
Home values, sales, trends and how Bancroft compares with the towns next door — updated as new data is published.
Home prices up 51% in 5 years
The federal house price index for the ZIP codes around Bancroft rose 51% over the past 5 years, faster than across Minnesota (37%). Last year prices rose 5.3%.
Show as a table
| Year | Change that year | Since 2000 | Minnesota since 2000 |
|---|---|---|---|
| 2025 | +5.3% | +116% | +127% |
| 2024 | +7.5% | +106% | +120% |
| 2023 | +4.9% | +91% | +113% |
| 2022 | +16% | +82% | +104% |
| 2021 | +9.9% | +57% | +82% |
| 2020 | −0.1% | +43% | +66% |
| 2019 | +4.1% | +43% | +61% |
| 2018 | +4.9% | +38% | +55% |
| 2017 | +15% | +31% | +46% |
| 2016 | −0.4% | +14% | +38% |
| 2015 | +3.4% | +15% | +32% |
| 2014 | −1.3% | +11% | +28% |
| 2013 | +1.3% | +12% | +21% |
| 2012 | −5.3% | +11% | +16% |
| 2011 | +0.7% | +17% | +18% |
| 2010 | −2.5% | +16% | +25% |
| 2009 | −6.9% | +19% | +33% |
| 2008 | +6.4% | +28% | +42% |
| 2007 | −1.5% | +20% | +48% |
| 2006 | −3% | +22% | +49% |
| 2005 | +8.7% | +26% | +45% |
| 2004 | +7.1% | +16% | +34% |
| 2003 | +1.2% | +8.2% | +23% |
| 2002 | +2.6% | +6.8% | +18% |
| 2001 | +4.1% | +4.1% | +9.2% |
| 2000 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 56007, 56016, covering 68% of Bancroft’s land, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost.
Bancroft and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Bancroft | — | +5.3%† | $1,000 | — | $105,417 |
| Albert Lea | — | +5.3%† | $970 | 4 | $64,603 |
| Clarks Grove | $229K | +5.1% | $1,050 | 0 | $73,750 |
| Albert Lea | $183K | +4.6% | $970 | — | $75,000 |
| Riceland | — | +5.3%† | $970 | — | $91,250 |
† FHFA price index change, where Zillow has no home value for the town.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $1,000
HUD's Fair Market Rent for a two-bedroom in Bancroft is $1,000 a month, utilities included: roughly what a modest, recently rented unit costs.
Studio $690 · 4 bedrooms $1,470
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (56007, 56016; Freeborn County, MN), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.