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Real Estate Prices & Overview

Bancroft / Murtaugh median real estate price is $261,884, which is less expensive than 72.7% of Minnesota neighborhoods and 64.7% of all U.S. neighborhoods.

The average rental price in Bancroft / Murtaugh is currently $1,280, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 76.0% of Minnesota neighborhoods.

Bancroft / Murtaugh is a remote neighborhood (based on population density) located in Albert Lea, Minnesota.

Bancroft / Murtaugh real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Bancroft / Murtaugh neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Home and apartment vacancy rates are 9.4% in Bancroft / Murtaugh. NeighborhoodScout analysis shows that this rate is lower than 40.9% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Real Estate

This neighborhood has wide open spaces, few people, and lots of space to stretch out. If you like locations that fit that description, you may like this neighborhood. Based on NeighborhoodScout's exclusive analysis, with only 28 people per square mile living here, this neighborhood is less crowded than 93.1% of America.

Diversity

Did you know that the Bancroft / Murtaugh neighborhood has more Norwegian and Danish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 37.7% of this neighborhood's residents have Norwegian ancestry and 4.8% have Danish ancestry.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Bancroft / Murtaugh neighborhood in Albert Lea are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 61.0% of the neighborhoods in America. In addition, 1.3% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 77.7% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Bancroft / Murtaugh neighborhood, 34.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 30.9% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (19.9%), and 14.2% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Bancroft / Murtaugh neighborhood is English, spoken by 92.7% of households.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Bancroft / Murtaugh neighborhood in Albert Lea, MN, residents most commonly identify their ethnicity or ancestry as Norwegian (37.7%). There are also a number of people of German ancestry (33.4%), and residents who report English roots (9.7%), and some of the residents are also of Irish ancestry (8.4%), along with some Asian ancestry residents (5.9%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Bancroft / Murtaugh neighborhood spend under 15 minutes commuting one-way to work (51.6% of working residents), one of the shortest commutes across America.

Here most residents (78.6%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (7.3%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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