Alabama · Census place 03940
Banks town, AL
Quick answer
Banks town has 298 residents, ranking #472 of 593 places in Alabama. Median household income is $49,773, the median home is worth — and median gross rent runs $1,057 a month.
- Population
- 298Banks town residents
- Median household income
- $49,773Past 12 months, inflation adjusted
- Median home value
- —Owner-occupied units
- Median gross rent
- $1,057Rent plus utilities, monthly
- Median age
- 30.8 yrsAll residents
- Homeownership rate
- 83.1%Owner-occupied households
What the numbers mean in Banks town
Housing cost measured against local earnings.
A household earning the Banks town median would spend about 25.5% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. Poverty affects 13.8% of residents and 83.1% of households own their home.
Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year
Compare with nearby places
Places of similar size in Alabama.
- Hodges town 306
- Malcolm CDP 305
- County Line town 302
- Lockhart town 297
- Castleberry town 288
- Whatley CDP 285
- Sipsey town 283
Keep going
More Alabama coverage.