Median Income
$22,240
70% lower than US avg
Home Value
$70,400
75% lower than US avg
Bachelor's+
6.1%
82% lower than US avg
Median Rent
$340
71% lower than US avg
Obesity Rate
41.5%
29% higher than US avg
Unemployment
4.0%
11% higher than US avg
Poverty Rate
59.3%
378% higher than US avg
How Banks Springs Compares to the U.S. Average (100% = U.S. avg)
People
Population1,432
Median Age30.3 yrs
Density456/mi²
Male / Female56% / 44%
Largest GroupWhite 25%
Economy
D
Median Income$22,240
Per Capita$18,267
Unemployment4.0%
Poverty59.3%
County GDP$249M
Commute26 min
Housing
A+
Home Value$70,400
Rent$340
OwnershipN/A
Health
Obesity41.5%
UninsuredN/A
Depression28.1%
Heart Disease6.9%
Climate
Avg Temp66°F
AQI42 (Good)
Rain59.3 in/yr
Elevation200 ft
Education
F
Bachelor's+6.1%
High School+69.3%
School Score4.48
Community
2024 VoteR 86% / D 13%
Commute26 min
Libraries1
Is Banks Springs a Good Place to Live?
Based on current data, Banks Springs receives an overall livability score of 2.8 out of 5.0, earning a grade of C+. Key strengths include affordable housing, high health insurance coverage. Areas to be aware of include an elevated poverty rate, below-average incomes, high obesity rates. Banks Springs has some notable strengths but also faces challenges that prospective residents should consider.
Economy & Jobs
The median household income in Banks Springs is $22,240, 70% below the national average of $75,149. Unemployment stands at 4.0%, indicating a healthy job market. The poverty rate of 59.3% exceeds the national average of 12.4%, indicating economic hardship for a significant portion of the population. Workers commute an average of 26 minutes.
Cost of Living & Housing
The median home value in Banks Springs is $70,400, 75% below the national median — offering relatively affordable homeownership. Renters pay a median of $340 per month, below the national average — a plus for affordability. A price-to-income ratio of 3.2x indicates a reasonably affordable housing market.
Education
6.1% of residents hold a bachelor's degree, below the national average of 33.7%. 69.3% have completed high school. Area schools have an average test score of 4.5/10.
Climate & Weather
Banks Springs enjoys a moderate climate with an average annual temperature of 66°F. Winters average 47°F in January while summers reach 83°F in July. Annual precipitation totals 59.3 inches. Air quality is rated Good with a median AQI of 42.
Banks Springs has a population of 1,432 with a density of 456 people per square mile. The median age is 30.3 years, 22% younger than the national median of 38.9. The city is predominantly Black (67.9%), with 24.6% White.
Population
30.3yrs
Median Age
22% below US avg
Race & Ethnicity
Banks Springs vs U.S. Average
Language Spoken at Home
| English Only | 99.2% |
| 26% above US avg |
| Spanish | 0.8% |
| 94% below US avg |
Social Characteristics
Banks Springs vs U.S. Average
The median household income in Banks Springs is $22,240, which is 70% below the national average of $75,149. The unemployment rate is 4.0% (above the 3.6% US average). 59.3% of residents live below the poverty line. Workers commute an average of 26 minutes.
Income: Banks Springs vs U.S.
Income
| Median HH Income | $22,240 |
| 70% below US avg |
| Per Capita Income | $18,267 |
| Avg Weekly Wage | $802 |
| IRS Avg AGI | $56,219 |
Employment & Poverty
| Unemployment | 4.0% |
| 11% above US avg |
| Poverty Rate | 59.3% |
| 378% above US avg |
| Establishments (County) | 231 |
| County GDP | $249M |
Business (County)
| Restaurants | 7 |
| Healthcare | 26 |
| Retail | 27 |
| Manufacturing | 5 |
Tax & Cost of Living
| Property Tax (IRS) | $2,083 |
| 40% below US avg |
| Effective Tax Rate | 2.96% |
Commute & Transportation
| Commute Time | 26.1 min |
| Work from Home | 0.0% |
The median home value in Banks Springs is $70,400, 75% below the national average. Monthly rent averages $340 (71% below US avg).
Home Values
| Census Median | $70,400 |
| 75% below US avg |
Real Estate Market (Redfin)
Rental Costs
| Census Median Rent | $340 |
| 71% below US avg |
HUD Fair Market Rent
| Studio | $763 |
| 1 Bedroom | $832 |
| 2 Bedrooms | $1,007 |
| 3 Bedrooms | $1,298 |
| 4 Bedrooms | $1,508 |
Ownership & Property
Property Tax
| Avg Tax (IRS) | $2,083 |
| 40% below US avg |
| Effective Rate | 2.96% |
In Banks Springs, 41.5% of adults are obese (above the 32.1% national rate). 28.1% report depression. 35.9% are physically inactive.
Health Metrics: Banks Springs vs U.S. Average (%)
Chronic Conditions
| Obesity | 41.5% |
| 29% above US avg |
| Diabetes | 15.6% |
| Heart Disease | 6.9% |
| High Blood Pressure | 43.4% |
| Asthma | 11.5% |
| COPD | 9.2% |
| Stroke | 4.5% |
Behaviors & Mental Health
| |
| Binge Drinking | 16.7% |
| Physical Inactivity | 35.9% |
| Depression | 28.1% |
| Mental Distress | 22.8% |
| Physical Distress | 16.7% |
Healthcare Access
| Insurance Rate | 96.2% |
| |
| Checkup Rate | 80.9% |
| Premature Death | 13,531/100K |
Food & Exercise
| Food Environment | 6.8/10 |
| Exercise Access | 65.2% |
| Healthcare Facilities | 26 |
Crime Rates: Banks Springs vs U.S. Average (per 100,000)
Traffic Safety
| Fatal Crashes (County/yr) | 3 |
Safety Score
Banks Springs has an average annual temperature of 66°F (19°C). Winters average 47°F in January while summers reach 83°F in July. Annual precipitation is 59.3 inches. Air quality is rated Good with a median AQI of 42.
Temperature
47°F Jan (8°C)
83°F Jul (28°C)
| Annual Average | 65.5°F |
| 21% above US avg |
| January Average | 47°F (8°C) |
| July Average | 83°F (28°C) |
Precipitation & Snow
| Annual Rainfall | 59.3 inches |
| 56% above US avg |
| Snowfall | 0.3 inches/yr |
Air Quality
| AQI Median | 42.0 |
| Rating | Good |
Geography
| Elevation | 200 ft (61 m) |
| Area | 3.1 sq mi (8.1 km²) |
| Population Density | 456/sq mi |
| Coordinates | 32.0764°N, 92.0851°W |
| County FIPS | 22021 |