Banks, OR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Banks Neighborhoods Since 2000




Banks, OR Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Banks Housing Market Information

With a population of 1,934, 488 total housing units (homes and apartments), and a median house value of $415,720, 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 86.12% of the city's housing units. Other types of housing that are prevalent in Banks include large apartment complexes or high rise apartments ( 6.27%), duplexes, homes converted to apartments or other small apartment buildings ( 5.70%), and a few row houses and other attached homes ( 1.90%).

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 79.92% of Banks's homes, and 76.05% 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 ( 22.62%). A lesser amount of the housing stock also hails from before 1939 ( 12.93%). There's also some housing in Banks built between 1940-1969 ( 10.27%).

Banks Home Appreciation Rates

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 11.25%, which ranks in the top 30% nationwide. This equates to an annual average Banks house appreciation rate of 1.07%.

Appreciation rates are so strong in Banks that despite a nationwide downturn in the housing market, Banks real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Banks appreciation rates continue to be some of the highest in America, at 12.10%, which is higher than appreciation rates in 97.56% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Banks. Banks appreciation rates in the latest quarter were at 2.08%, which equates to an annual appreciation rate of 8.56%.

Importantly, this makes Banks one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Oregon, our data show that Banks's latest annual appreciation rate is higher than 80% of the other cities and towns in Oregon.

Average Home Values

 

Median Home Value:
$415,720

Banks, OR HOME PRICES

Value Range
> $1,330,000 3.2
$998,001 - $1,330,000 3.2
$665,001 - $998,000 13.4
$532,001 - $665,000 8.4
$399,001 - $532,000 26.5
$266,001 - $399,000 28.3
$133,001 - $266,000 13.0
$67,001 - $133,000 1.8
$0 - $67,000 2.2

Very High for OR
Very High for Nation

Value Relative to Nation Value Relative to State
8.68979257002227 9.66183574879227

Number Of Homes And Apartments:
488

Banks Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OR*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
82.91% 3.56% 8 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,506 / per month

Homeownership Rate

Homeownership
Owners 79.92
Renters 20.08
Vacant 7.22

Housing Market Details

 

Age of Homes

AGE OF Banks HOMES
2000 or Newer 22.6
1970 - 1999 54.2
1940 - 1969 10.3
1939 or Older 12.9

Types of Homes

TYPE OF Banks HOMES
Single-Family 86.1
Townhomes 1.9
Small Apt. Buildings 5.7
Apt. Complexes 6.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Banks HOMES
No Bedroom 0.00
1 Bedroom 1.52
2 Bedrooms 15.21
3 Bedrooms 37.07
4 Bedrooms 38.97
5 or more bedrooms 7.22