Banks, AL (36005) is a small town in Alabama located near the Georgia border. It has a population of about 150 people and is known for its rural charm and strong sense of community. The average two bedroom rent in Banks is $900, which is significantly lower than the US average of $1,430. The grocery cost index in Banks is 92 as opposed to 100 nationally.
Banks has a variety of local businesses and attractions that make it an inviting place to call home. For example, there’s M&M Grocery Store, which offers fresh produce, snacks, and more; the local restaurant El Palmarito serving up Mexican cuisine; along with several shops like Primary Goods or Main Street Market to buy unique gifts. There are also plenty of outdoor activities available such as fishing at Cedar Creek Lake or hiking at Fosheee Park. With its low cost of living and abundance of amenities, Banks makes a great place for families looking to settle down in the South.
Banks (zip 36005) has an unemployment rate of 3.1%. The US average is 6.0%.
Banks (zip 36005) has seen the job market increase by 1.7% over the last year. Future job growth over the next ten years is predicted to be 34.5%, which is higher than the US average of 33.5%.
Tax Rates for Banks (zip 36005)
- The Sales Tax Rate for Banks (zip 36005) is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Banks (zip 36005) is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Banks (zip 36005)
- The average income of a Banks (zip 36005) resident is $21,350 a year. The US average is $28,555 a year.
- The Median household income of a Banks (zip 36005) resident is $41,797 a year. The US average is $69,021 a year.