Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 1,829 people, 730 houses or apartments, and a median cost of homes of $550,874, Banks house prices are not only among the most expensive in Oregon, Banks real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Banks, accounting for 81.59% of the city's housing units. Other types of housing that are prevalent in Banks include duplexes, homes converted to apartments or other small apartment buildings ( 7.96%), large apartment complexes or high rise apartments ( 7.31%), and a few mobile homes or trailers ( 1.70%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Banks. Owner-occupied housing accounts for 80.96% of Banks's homes, and 69.58% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Banks built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Banks built between 2000 and later ( 12.79%). A lesser amount of the housing stock also hails from before 1939 ( 11.49%). There's also some housing in Banks built between 1940-1969 ( 3.79%).
Appreciation rates for homes in Banks have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 92.36%, which ranks in the top 30% nationwide. This equates to an annual average Banks house appreciation rate of 6.76%.
Over the last year, Banks appreciation rates have trailed the rest of the nation. In the last twelve months, Banks's appreciation rate has been 3.72%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Banks were at -4.41%, which equates to an annual appreciation rate of -16.52%.
Notably, Banks's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Oregon, our data show that Banks's latest annual appreciation rate is lower than 80% of the other cities and towns in Oregon.
$2,404 / per month