Banks Springs, LA
Population 1,432 · Louisiana
About Banks Springs, LA
Banks Springs is a small town located in Louisiana with a population of 1,432 residents according to the latest US Census Bureau American Community Survey data. The median household income is $22,240 per year, which is 70% below the national median of $75,149. The median age of 30.3 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 Springs features a median home value of $70,400, which is 71% below the national median of $244,900. This makes Banks Springs one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $340, 71% below the national average of $1,163/month. Of the 592 total housing units, 40% are owner-occupied (181 units) and 60% are renter-occupied (274 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Banks Springs shows an unemployment rate of 7.7%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 56.8%, above the national average of 12.4%. Workers in Banks Springs have an average one-way commute time of 26.1 minutes.
Education & Demographics
6.1% of Banks Springs 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 7.5% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 2.2% of the population being foreign-born.
How Banks Springs Ranks in Louisiana
Cost of Living in Banks Springs, LA
Compared to national averages, Banks Springs has a median household income of $22,240 (70% below the national median of $75,149). Home values average $70,400, which is 71% below the national median. Monthly rent at $340 is 71% below the US average of $1,163. Within Louisiana, Banks Springs's income is 59% below the state average of $54,685, and home values are 55% below the state median of $156,619.
Why Live in Banks Springs, LA?
Banks Springs offers affordable housing with a median home value of $70,400, below the US average of $244,900, and rent that’s lower than the national average at $340/month.
Potential considerations include median household income ($22,240) that falls below the national average. However, Banks Springs’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Banks Springs has a population of 1,432 with a median age of 30.3 years. Compare Banks Springs with other cities to see how it stacks up, or explore all cities in Louisiana.
Similar Cities Near Banks Springs
Cities in Louisiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Gueydan | 1,431 | $29,223 | $82,100 | Compare |
| Jonesville | 1,425 | $32,639 | $80,600 | Compare |
| Lockport Heights | 1,441 | $91,250 | $322,900 | Compare |
| Colfax | 1,442 | $28,510 | $82,400 | Compare |
| Paincourtville | 1,455 | $61,037 | $0 | Compare |
| Simmesport | 1,455 | $26,250 | $60,100 | Compare |
| Iota | 1,459 | $42,750 | $161,400 | Compare |
| Bayou Gauche | 1,463 | $149,107 | $295,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Louisiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Banks Springs With Other Cities
Frequently Asked Questions about Banks Springs
What is the population of Banks Springs, LA?
The population of Banks Springs, LA is 1,432 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Louisiana.
What is the median household income in Banks Springs?
The median household income in Banks Springs, LA is $22,240 per year, which is 70% below the national median of $75,149.
What is the median home value in Banks Springs?
The median home value in Banks Springs, LA is $70,400, which is 71% below the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Banks Springs?
The median monthly rent in Banks Springs, LA is $340, which is 71% below the national average of $1,163/month.
What is the unemployment rate in Banks Springs?
The unemployment rate in Banks Springs, LA is 7.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Banks Springs, LA a good place to live?
Banks Springs offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 1,432 and a median age of 30.3, the city appeals to young professionals and families.
How educated is Banks Springs, LA?
6.1% of residents in Banks Springs 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 Springs?
Key cost-of-living indicators for Banks Springs, LA: median home value is $70,400 (71% below national), median rent is $340/month, and median household income is $22,240. The home-value-to-income ratio is 3.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Banks Springs?
The poverty rate in Banks Springs, LA is 56.8%, 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 Springs, LA?
Banks Springs's population is 7.5% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 67.9% two or more races. 2.2% of residents are foreign-born.