Banks, AR
Population 127 · Arkansas
About Banks, AR
Banks is a small community located in Arkansas with a population of 127 residents according to the latest US Census Bureau American Community Survey data. The median household income is $63,750 per year, which is 15% below the national median of $75,149. The median age of 29.5 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Banks features a median home value of $75,000, which is 69% below the national median of $244,900. This makes Banks one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 49 total housing units, 100% are owner-occupied (40 units) and 0% are renter-occupied (0 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Banks shows an unemployment rate of 18.6%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 48.0%, above the national average of 12.4%. Workers in Banks have an average one-way commute time of 28.9 minutes.
Education & Demographics
8.6% of Banks residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 26.8% White, 4.7% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 12.6% of the population being foreign-born.
Cost of Living in Banks, AR
Compared to national averages, Banks has a median household income of $63,750 (15% below the national median of $75,149). Home values average $75,000, which is 69% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Arkansas, Banks's income is 22% above the state average of $52,241, and home values are 40% below the state median of $125,457.
Why Live in Banks, AR?
Banks offers affordable housing with a median home value of $75,000, below the US average of $244,900, and rent that’s lower than the national average at $0/month.
Potential considerations include median household income ($63,750) that falls below the national average. However, Banks’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Banks has a population of 127 with a median age of 29.5 years. Compare Banks with other cities to see how it stacks up, or explore all cities in Arkansas.
Similar Cities Near Banks
Cities in Arkansas with a similar population size.
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Arkansas
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Banks
What is the population of Banks, AR?
The population of Banks, AR is 127 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Arkansas.
What is the median household income in Banks?
The median household income in Banks, AR is $63,750 per year, which is 15% below the national median of $75,149.
What is the median home value in Banks?
The median home value in Banks, AR is $75,000, which is 69% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Banks?
The median monthly rent in Banks, AR is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Banks?
The unemployment rate in Banks, AR is 18.6%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Banks, AR a good place to live?
Banks offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 127 and a median age of 29.5, the city appeals to young professionals and families.
How educated is Banks, AR?
8.6% of residents in Banks aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Banks?
Key cost-of-living indicators for Banks, AR: median home value is $75,000 (69% below national), median rent is $0/month, and median household income is $63,750. The home-value-to-income ratio is 1.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Banks?
The poverty rate in Banks, AR is 48.0%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Banks, AR?
Banks's population is 26.8% White, 4.7% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 12.6% of residents are foreign-born.