Cost of Living in Banks, AR
Population: 127 | Arkansas
Banks is 23% less expensive than the national average.
Cost of Living in Banks, AR: What You Need to Know
With a cost of living index of 77, Banks, AR is a very affordable place to live. Living here is 23% cheaper than the national average and 7% above the Arkansas state average of 70. Banks is a small community of 127 residents.
The median household income in Banks is $63,750, which is 15% lower than the national median of $75,149. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.
Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.
Income
- Median Household Income
- $63,750
- vs US Median ($75,149)
- -15%
Housing
- Median Home Value
- $75,000
- Median Monthly Housing Cost
- $725/mo