Expensive
Affordable
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These days, finding an affordable place to live in the Banks area can be challenging. Home prices in Banks are now at a median cost of $89,374, lower than the Alabama average of $228,911.
The average cost of rent is $903/mo in Banks, primarily driven by the current value of real estate in the Banks area. In Banks, 21.58% of households rent, and 70.72% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Banks is $4,177 per month. Households that rent pay about 21.61% of their income on rent here. Banks’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Josie, AL: equally priced homes
- Monticello, AL: equally priced homes
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- Sandfield, AL: equally priced homes
- Catalpa, AL: equally priced homes
- Pronto, AL: equally priced homes
- Dunn, AL: higher priced homes
- Linwood, AL: equally priced homes
- Saco, AL: equally priced homes
- Blues Old Stand, AL: less expensive homes
Cities with Similar Populations
- Glidden, WI: higher priced homes
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- Hoagland, OH: higher priced homes
- Hillsboro, GA: higher priced homes
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- Roosville, MT: higher priced homes
- Rosalia, WA: higher priced homes
- Hamrick, NC: higher priced homes
- Greasewood, AZ: higher priced homes
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