Quick facts: Banks, OR

Quick Facts

111
Cost of Living
above US average
1,814
Population
15.99
Crime Rate per 1000
below US average
$82,708
Median Income
above US average
$585,000
Median House Price
above US average
$3000.0
Average Rent
above US average
Poverty rate Data is updating, will be available soon
Unemployment Data is updating, will be available soon

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $82,708.

🏠

Income Needed to Buy

βœ— Stretch
$184k/year
Based on $585,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $184k vs median $82,708
🏒

Income Needed to Rent

⚠ Stretch
$129k/year
Based on $3000.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $129k vs median $82,708
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Banks, OR

Banks is a small city located in Washington County, Oregon, nestled amid the scenic landscapes of the Pacific Northwest. With a population of around 1,700 residents, it offers a close-knit community atmosphere. Predominantly known for its rich agricultural heritage, Banks is surrounded by lush forests, rolling hills, and picturesque farmland, making it an ideal spot for outdoor enthusiasts. The city serves as a gateway to various recreational activities, including hiking, biking, and fishing, with the nearby Tillamook State Forest and Banks-Vernonia State Trail providing ample opportunities to explore the natural beauty of the region. The trail, in particular, is a popular destination, offering a 21-mile pathway perfect for walking, biking, and horseback riding. Banks hosts a small selection of local businesses, shops, and eateries, contributing to its quaint charm. The community actively engages in local events and festivals, fostering a strong sense of belonging. With its easy access to larger cities like Hillsboro and Portland, Banks strikes a perfect balance between rural tranquility and urban convenience.

πŸ” Search & Compare Places

First Location πŸ“