Banks, AR Profile: Facts & Data

The primary coordinate point for Banks is located at latitude 33.5748 and longitude -92.269 in Bradley County. The formal boundaries for the Town of Banks encompass a land area of 0.38 sq. miles and a water area of 0 sq. miles. Bradley County is in the Central time zone (GMT -6). The elevation is 207 feet.

The Town of Banks has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Banks, AR Data & Demographics (As of July 1, 2022)

POPULATION
Total Population	93 (100%)
Population in Households	93 (100.0%)
Population in Families	74 (79.6%)
Population in Group Quarters¹	0
Population Density	248
Diversity Index²	45


INCOME
Median Household Income	$43,443
Average Household Income	$55,060
% of Income for Mortgage⁴	0%
Per Capita Income	$23,003
Wealth Index⁵	40

HOUSING
Total HU (Housing Units)	51 (100%)
Owner Occupied HU	38 (74.5%)
Renter Occupied HU	4 ( 7.8%)
Vacant Housing Units	8 (15.7%)
Median Home Value	$118,750
Average Home Value	$442,949
Housing Affordability Index³	0

HOUSEHOLDS
Total Households	43
Average Household Size	2.16
Family Households	26
Average Family Size	3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

Banks, AR - Peer Comparisons by Rank and Percentile

The table below compares Banks to the other 625 incorporated cities, towns and CDPs in Arkansas by rank and percentile using July 1, 2022 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2020-2022	2022-2027
Population	3.01%	1.46%
Households	3.27%	0.91%
Families		1.49%
Median Household Income		3.80%
Per Capita Income		2.99%
Owner Occupied HU		1.53%

Variable Description	Rank	Percentile
Total Population	# 550	12th
Population Density	# 354	44th
Median Household Income	# 369	41st
Housing Affordability Index	# 122	20th
Per Capita Income	# 487	22nd
Diversity Index	# 210	67th

Banks, AR Profile: Facts & Data

Banks, Arkansas - Basic Facts

Banks, AR Data & Demographics (As of July 1, 2022)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Banks, AR - Peer Comparisons by Rank and Percentile

Banks, AR - Most Popular Things to Do

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