Housing costs in Banks?
A typical home costs
$585,600, which is 73.2% more expensive than the national average of
$338,100 and 25.0% more expensive than the average Oregon home, at
$468,400. Renting a two-bedroom unit in Banks costs
$1,890 per month, which is 32.2% more than the national average of
$1,430 and 19.6% more than the state average of
$1,520.
Can I afford Banks?
To live comfortably in Banks, Oregon, a minimum annual income of
$112,320 for a family, and
$66,400 for a single person is recommended.
What does A.I. say about Banks?
The cost of living in Banks, OR is quite reasonable compared to other suburbs of Portland. The median home value is around $326,000, which is much lower than the national average of $231,200. Additionally, utility bills are also lower than average due to the mild climate and the abundance of renewable energy sources in the area. Overall, residents can expect to pay less for housing costs and utilities than elsewhere in the state or country. Furthermore, taxes are generally low as well since Banks does not have any local sales tax or income tax. All in all, Banks offers residents a great quality of life at a very competitive price tag.