Banks, AL Profile: Facts & Data


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Banks, Alabama - Basic Facts

The Town of Banks had a population of 158 as of July 1, 2023. Banks ranks in the lower quartile for Population Density when compared to the other cities, towns and Census Designated Places (CDPs) in Alabama. See peer rankings below.

The primary coordinate point for Banks is located at latitude 31.8152 and longitude -85.843 in Pike County. The formal boundaries for the Town of Banks encompass a land area of 1.99 sq. miles and a water area of 0 sq. miles. Pike County is in the Central time zone (GMT -6).

The Town of Banks has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Alabama is one of 20 states where Census County Divisions (CCDs) are used for statistical tracking of subdivisions within each county. The Town of Banks is located within Banks-Josie Division of Pike County.

Jump to... (On This Page!)
  1. Banks 2023 Demographic Data
  2. Growth Rates for Banks (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Alabama Research Tools (Easy Tools & Current Data)
  3. Alabama Data Comparison Tool - 2023 Demographics

Banks, AL Data & Demographics (As of July 1, 2023)


Total Population 158 (100%)
Population in Households 158 (100.0%)
Population in Families 95 (60.1%)
Population in Group Quarters1 0
Population Density 80
Diversity Index2 43


Median Household Income $48,276
Average Household Income $69,343
% of Income for Mortgage4 17%
Per Capita Income $38,182
Wealth Index5 63
Socioeconomic Status Index6 Low (43.8)


Total HU (Housing Units) 109 (100%)
Owner Occupied HU 75 (68.8%)
Renter Occupied HU 12 (11.0%)
Vacant Housing Units 22 (20.2%)
Median Home Value $132,500
Average Home Value $248,667
Housing Affordability Index3 162


Total Households 87
Average Household Size 1.82
Family Households 36
Average Family Size 3.00
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.


2020-2023 2023-2028
Population 0.39% -1.43%
Households 0.72% -1.66%
Families   -1.73%
Median Household Income   -1.95%
Per Capita Income   3.64%
Owner Occupied HU   -3.12%

Banks, AL - Peer Comparisons by Rank and Percentile

The table below compares Banks to the other 593 incorporated cities, towns and CDPs in Alabama by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 532 10th
Population Density # 493 17th
Median Household Income # 301 49th
Housing Affordability Index # 418 70th
Per Capita Income # 75 88th
Diversity Index # 269 54th

Additional comparisons and rankings can be made with a VERY EASY TO USE Alabama Census Data Comparison Tool.

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