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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 $59,845, lower than the Arkansas average of $207,061.
The average cost of rent is $695/mo in Banks, primarily driven by the current value of real estate in the Banks area. In Banks, 31.15% of households rent, and 90.11% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Banks is $2,047 per month. Households that rent pay about 33.96% of their income on rent here. Banks’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Gravelridge, AR: higher priced homes
- Lanark, AR: less expensive homes
- Farmville, AR: higher priced homes
- McKinney, AR: higher priced homes
- Tinsman, AR: higher priced homes
- Warren, AR: higher priced homes
- Harrell, AR: higher priced homes
- Hermitage, AR: higher priced homes
- Sumpter, AR: higher priced homes
- Hampton, AR: higher priced homes
Cities with Similar Populations
- Rabbit Hash, KY: higher priced homes
- Daisy, MO: higher priced homes
- Rumsey, CA: higher priced homes
- Roy, NM: higher priced homes
- Roundtop, TN: higher priced homes
- Rosiere, NY: higher priced homes
- Rocky Hill, AR: higher priced homes
- Rock Camp, WV: higher priced homes
- Robinsons, AL: higher priced homes
- Roberts Corner, NY: higher priced homes
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