Banks, OR
Population 2,092 · Oregon
About Banks, OR
Banks is a small town located in Oregon with a population of 2,092 residents according to the latest US Census Bureau American Community Survey data. The median household income is $84,651 per year, which is 13% above the national median of $75,149. The median age of 34.8 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 $430,200, which is 76% above the national median of $244,900. This places Banks in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,634, 40% above the national average of $1,163/month. Of the 823 total housing units, 77% are owner-occupied (613 units) and 23% are renter-occupied (184 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Banks shows an unemployment rate of 8.5%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 8.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Banks have an average one-way commute time of 28.3 minutes.
Education & Demographics
33.5% of Banks residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 9.1% White, 2.9% Hispanic or Latino, 1.9% Black or African American, and 1.1% Asian residents, with 8.7% of the population being foreign-born.
Cost of Living in Banks, OR
Compared to national averages, Banks has a median household income of $84,651 (13% above the national median of $75,149). Home values average $430,200, which is 76% above the national median. Monthly rent at $1,634 is 40% above the US average of $1,163. Within Oregon, Banks's income is 11% above the state average of $76,196, and home values are 13% above the state median of $382,095.
Why Live in Banks, OR?
Banks offers a strong local economy with a median household income of $84,651, well above the national average, and a low poverty rate of 8.5%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $430,200. However, Banks’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Banks has a population of 2,092 with a median age of 34.8 years. Compare Banks with other cities to see how it stacks up, or explore all cities in Oregon.
Similar Cities Near Banks
Cities in Oregon with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Rogue River | 2,092 | $45,163 | $274,800 | Compare |
| Enterprise | 2,145 | $56,975 | $298,400 | Compare |
| Mulino | 2,146 | $103,375 | $698,000 | Compare |
| Harbor | 2,154 | $57,778 | $316,600 | Compare |
| Depoe Bay | 2,025 | $68,636 | $369,900 | Compare |
| Waldport | 2,025 | $50,000 | $318,400 | Compare |
| Bay City | 2,022 | $80,329 | $337,500 | Compare |
| Clatskanie | 2,198 | $81,307 | $300,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Oregon
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Banks With Other Cities
Frequently Asked Questions about Banks
What is the population of Banks, OR?
The population of Banks, OR is 2,092 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Oregon.
What is the median household income in Banks?
The median household income in Banks, OR is $84,651 per year, which is 13% above the national median of $75,149.
What is the median home value in Banks?
The median home value in Banks, OR is $430,200, which is 76% above 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, OR is $1,634, which is 40% above the national average of $1,163/month.
What is the unemployment rate in Banks?
The unemployment rate in Banks, OR is 8.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Banks, OR a good place to live?
Banks offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 2,092 and a median age of 34.8, the city appeals to young professionals and families.
How educated is Banks, OR?
33.5% 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, OR: median home value is $430,200 (76% above national), median rent is $1,634/month, and median household income is $84,651. The home-value-to-income ratio is 5.1x, a moderate figure by national standards.
What is the poverty rate in Banks?
The poverty rate in Banks, OR is 8.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Banks, OR?
Banks's population is 9.1% White, 2.9% Hispanic or Latino, 1.9% Black or African American, 1.1% Asian, and 0.7% two or more races. 8.7% of residents are foreign-born.