Banks Lake South, WA
Population 216 · Washington
About Banks Lake South, WA
Banks Lake South is a small community located in Washington with a population of 216 residents according to the latest US Census Bureau American Community Survey data. The median household income is $42,917 per year, which is 43% below the national median of $75,149. The median age of 48.6 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Banks Lake South features a median home value of $252,400, which is 3% above the national median of $244,900. This positions Banks Lake South in a moderately priced market relative to the rest of the country. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 102 total housing units, 83% are owner-occupied (72 units) and 17% are renter-occupied (15 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Banks Lake South shows an unemployment rate of 5.4%, which is near the national rate of 3.7%. The poverty rate stands at 10.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Banks Lake South have an average one-way commute time of 26.4 minutes.
Education & Demographics
12.8% of Banks Lake South 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 4.2% White, 12.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Banks Lake South, WA
Compared to national averages, Banks Lake South has a median household income of $42,917 (43% below the national median of $75,149). Home values average $252,400, which is 3% above the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Washington, Banks Lake South's income is 53% below the state average of $90,795, and home values are 45% below the state median of $460,491.
Why Live in Banks Lake South, WA?
Banks Lake South offers rent that’s lower than the national average at $0/month, and a low poverty rate of 10.2%, better than the national average.
Potential considerations include median household income ($42,917) that falls below the national average. However, Banks Lake South’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Banks Lake South has a population of 216 with a median age of 48.6 years. Compare Banks Lake South with other cities to see how it stacks up, or explore all cities in Washington.
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Other Cities in Washington
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Banks Lake South
What is the population of Banks Lake South, WA?
The population of Banks Lake South, WA is 216 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Washington.
What is the median household income in Banks Lake South?
The median household income in Banks Lake South, WA is $42,917 per year, which is 43% below the national median of $75,149.
What is the median home value in Banks Lake South?
The median home value in Banks Lake South, WA is $252,400, which is 3% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Banks Lake South?
The median monthly rent in Banks Lake South, WA is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Banks Lake South?
The unemployment rate in Banks Lake South, WA is 5.4%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Banks Lake South, WA a good place to live?
Banks Lake South offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 216 and a median age of 48.6, the city appeals to established professionals and retirees.
How educated is Banks Lake South, WA?
12.8% of residents in Banks Lake South 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 Lake South?
Key cost-of-living indicators for Banks Lake South, WA: median home value is $252,400 (3% above national), median rent is $0/month, and median household income is $42,917. The home-value-to-income ratio is 5.9x, a moderate figure by national standards.
What is the poverty rate in Banks Lake South?
The poverty rate in Banks Lake South, WA is 10.2%, 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 Lake South, WA?
Banks Lake South's population is 4.2% White, 12.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.