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Affordable
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These days, finding an affordable place to live in the Banco area can be challenging. Home prices in Banco are now at a median cost of $343,070, lower than the Virginia average of $443,089.
The average cost of rent is $957/mo in Banco, primarily driven by the current value of real estate in the Banco area. In Banco, 33.18% of households rent, and 40.46% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Banco is $6,280 per month. Households that rent pay about 15.24% of their income on rent here. Banco’s most expensive areas are in the eastern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Graves Mill, VA: equally priced homes
- Syria, VA: equally priced homes
- Shelby, VA: equally priced homes
- Haywood, VA: equally priced homes
- Etlan, VA: equally priced homes
- Leon, VA: higher priced homes
- Madison, VA: equally priced homes
- Wolftown, VA: equally priced homes
- Brightwood, VA: higher priced homes
- Reva, VA: higher priced homes
Cities with Similar Populations
- Sewal, IA: less expensive homes
- Corbin City, NJ: less expensive homes
- Cornersville, MS: less expensive homes
- Soda Springs, CA: higher priced homes
- Counselor, NM: less expensive homes
- Cove, MN: less expensive homes
- Hytop, AL: less expensive homes
- Olive Branch, NC: equally priced homes
- Onslow, IA: less expensive homes
- South Colton, NY: less expensive homes
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