Living in Banks, Arkansas
Cost of living, income, home prices, rent and demographics of Banks · Census data 2020–2024
Banks has 126 residents with a median age of 37.7. The median household income is $56,250 (7% lower than the Arkansas median), the median home value is $60,000.
Banks is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Banks at a glance
- Population
- 126
- Median age
- 37.7State: 38.5
- Median household income
- $56,250State: $60,773
- Median home value
- $60,000State: $188,000
- Homeowners
- 84.8%
- Bachelor's degree or higher
- 6.3%
- Average commute
- 39 min
Is Banks a good place to live?
Pros: Home values 68% lower than the state median.
Cons: Median household income 7% lower than the Arkansas median; an average commute of 39 minutes; unemployment of 36.2%; a poverty rate of 43.1%.
The weather is best in April–May and September–October.
Cost of living in Banks
Housing is the biggest part of the cost of living. In Banks the median home value is $60,000, 82% lower than the U.S. median. Renters pay a median of — per month. Homeowners with a mortgage pay — a month in housing costs.
Banks median household income
The median household income in Banks is $56,250 and the income per person is $15,211. 43.1% of residents live below the poverty line (Arkansas: 16%).
Housing in Banks: homes for sale and rent
- Housing units
- 42
- Owner-occupied
- 84.8%
- Renter-occupied
- 15.2%
- Vacant
- 21.4%Includes seasonal homes
- Median year built
- 1975
- Average household size
- 3.82
Banks demographics
- Population
- 126
- Median age
- 37.7
- Under 18
- 25.4%
- 65 and older
- 16.7%
- Households
- 33
- Foreign-born
- 0%
- Veterans
- 2.1%Adults 18+
Hispanic or Latino can be of any race. Population history of Banks ›
Education in Banks
6.3% of adults 25 and older in Banks have a bachelor's degree or higher (Arkansas: 25.7%), and 5.1% have a graduate or professional degree.
Jobs and commute in Banks
- Unemployment rate
- 36.2%State: 4.9%
- Average commute
- 39 minState: 23 min
- Work from home
- 0%
- Drive alone
- 60%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 75.8%
Banks vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Banks | 126 | $56,250 | $60,000 | — |
| Harrell | 323 | $81,250 | $116,400 | — |
| Hermitage | 327 | $23,047 | $107,800 | $399 |
| Warren | 5,353 | $36,788 | $76,700 | $704 |
| Hampton | 1,037 | $46,458 | $91,300 | $800 |
| New Edinburg | 182 | $73,947 | $147,600 | — |
| Thornton | 292 | $54,643 | $66,900 | $619 |
| Fordyce | 3,268 | $38,079 | $92,600 | $639 |
| Kingsland | 406 | $27,500 | $67,500 | $850 |
More for people moving to Banks
Banks ZIP code ›Weather and climate ›Living in Banks: FAQ
What is the median household income in Banks, AR?
The median household income in Banks is $56,250, 7% lower than the Arkansas median of $60,773 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Banks?
The median home value in Banks is $60,000, compared with $188,000 in Arkansas.
Is Banks, AR a good place to live?
Pluses: home values 68% lower than the state median. Minuses: median household income 7% lower than the Arkansas median; an average commute of 39 minutes; unemployment of 36.2%; a poverty rate of 43.1%.
What is the median age in Banks?
The median age in Banks is 37.7 years (Arkansas: 38.5).
How long is the commute in Banks?
The average commute to work in Banks is 39 minutes; 0% of workers work from home.
What is the unemployment rate in Banks?
The unemployment rate in Banks is 36.2% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Banks?
6.3% of adults in Banks have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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