Housing costs in Banks?
A typical home costs
$69,700, which is 79.4% less expensive than the national average of
$338,100 and 61.7% less expensive than the average Arkansas home, at
$181,800. Renting a two-bedroom unit in Banks costs
$650 per month, which is 54.5% cheaper than the national average of
$1,430 and 29.2% cheaper than the state average of
$840.
Can I afford Banks?
To live comfortably in Banks, Arkansas, a minimum annual income of
$13,320 for a family, and
$20,400 for a single person is recommended.
What does A.I. say about Banks?
The cost of living in Banks, AR is quite affordable. The median home price in the area is $135,000, significantly lower than the national average. Likewise, the median household income stands at $41,071 which is also lower than the national average and provides plenty of means for locals to cover basic living expenses. Additionally, property taxes are low at 0.54%, ensuring that homeowners do not suffer under a hefty financial burden. In addition to these factors, groceries and healthcare costs are also significantly lower than the national average with a cost difference of roughly 8%. All in all, Banks is a great place for those looking for an affordable place to call home.