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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Banks, OR Real Estate Market

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 Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Banks, OR Housing Market Trends

With a population of 1,814, 758 total housing units (homes and apartments), and a median house value of $617,015, 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 78.34% 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 ( 9.17%), large apartment complexes or high rise apartments ( 8.79%), and a few mobile homes or trailers ( 1.91%).

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 77.97% of Banks's homes, and 66.62% 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 ( 12.48%). A lesser amount of the housing stock also hails from before 1939 ( 11.72%). There's also some housing in Banks built between 1940-1969 ( 2.29%).

Banks Home Appreciation Rates

Real estate appreciation rates in Banks's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.03% during the period.

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 -0.52%, 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 2.13%, which equates to an annual appreciation rate of 8.81%.

Relative to Oregon, our data show that Banks's latest annual appreciation rate is lower than 70% of the other cities and towns in Oregon.

Average Home Values

Median Home Value

$617,015

Banks, OR Home Prices
> $1,204,000
$903,001 - $1,204,000
$602,001 - $903,000
$482,001 - $602,000
$361,001 - $482,000
$241,001 - $361,000
$120,001 - $241,000
$60,001 - $120,000
$0 - $60,000
8.2%
8.2%
4.5%
4.5%
31.1%
31.1%
30.0%
30.0%
18.8%
18.8%
3.2%
3.2%
3.2%
3.2%
0.0%
0.0%
1.0%
1.0%
0% 100.0%
% of Homes
Very High

for Oregon

Very High

for nation

Number of Homes And Apartments:

758

Banks Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,242 / per month

Homeownership Rate

Owners
Renters
78.0%
78.0%
22.0%
22.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
3.4%
3.4%
96.6%
96.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
12.5%
12.5%
73.5%
73.5%
2.3%
2.3%
11.7%
11.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
78.3%
78.3%
1.8%
1.8%
9.2%
9.2%
8.8%
8.8%
1.9%
1.9%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
1.7%
1.7%
20.8%
20.8%
38.3%
38.3%
28.3%
28.3%
11.0%
11.0%
0% 100.0%
% of Homes