Banks Springs, LA is a small town located in Louisiana. It has a relatively low cost of living compared to the rest of the US which makes it a desirable place to live. The average rent for a 2 bedroom apartment is only $770 and the grocery cost index is 90 versus 100 in the US, making it very affordable for residents. Local businesses in Banks Springs include Banks General Store, Bank's Pharmacy, and Bank's Hardware Store. All three stores offer quality services and products to residents and visitors alike. The local community is friendly and welcoming, providing an ideal home for people looking for a quiet atmosphere with affordable prices.
Banks Springs has an unemployment rate of 4.9%. The US average is 6.0%.
Banks Springs has seen the job market increase by 0.1% over the last year. Future job growth over the next ten years is predicted to be 18.7%, which is lower than the US average of 33.5%.
Tax Rates for Banks Springs
- The Sales Tax Rate for Banks Springs is 9.5%. The US average is 7.3%.
- The Income Tax Rate for Banks Springs is 6.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Banks Springs
- The average income of a Banks Springs resident is $13,204 a year. The US average is $28,555 a year.
- The Median household income of a Banks Springs resident is $36,008 a year. The US average is $69,021 a year.