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The total population of Bancroft township is estimated to be 903 with 497 males (55.04%) and 406 females (44.96%). There are 91 less females than males in Bancroft township.
The median household income in Bancroft township was $97,043 in 2021, which marked an a decrease of 14,450(12.96%) from $111,493 in 2020. This income is 130.07% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Bancroft township sees its highest median household income among householders in the age group of 45 to 64 years old, at $117,549. Overall, the median household income for the township of Bancroft township stands at $97,043.
In Bancroft township, the median income for all workers aged 15 years and older, regardless of work hours, was $53,132 for males and $32,427 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $67,273 for males and $53,595 for females.
In Bancroft township, population is primarily represented by White households, reporting a median income of $96,647.
In 2022, the population of Bancroft township was 785, a 0.25% decrease year-by-year from 2021. Previously, in 2021, Bancroft township's population was 787, a decline of 0.38% compared to a population of 790 in 2020.
The median age in Bancroft Township, Minnesota is 42.5, as per 2021 ACS 5-Year Estimates. Of the total population, 17.40% were under the age of 15, 19.37% aged 15 to 29, 42.34% aged 30 to 64, 18.33% aged 65 to 84, and 2.55% were 85 years of age and older.
Racial distribution of Bancroft township population: 92.11% are White and 7.89% are multiracial.