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Real Estate Prices & Overview

Bancroft / Murtaugh median real estate price is $279,009, which is less expensive than 70.9% of Minnesota neighborhoods and 63.9% of all U.S. neighborhoods.

The average rental price in Bancroft / Murtaugh is currently $1,367, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 74.8% 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

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Albert Lea, the Bancroft / Murtaugh neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Unpopulated, and rural, the Bancroft / Murtaugh neighborhood is one of the least crowded neighborhoods in all of America. If you like open space, no traffic, and lots of room, this neighborhood may be just what you are looking for. According to NeighborhoodScout's leading research, this neighborhood is less densely populated than 93.1% of the neighborhoods in 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

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a 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.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

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

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

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

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. 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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