Banks town, Alabama Demographics & Population 2026
As of 2026, Banks town, Alabama has a total population of 298, the 472nd largest city in Alabama, with a median household income of $49,773, which is 20% lower than the state average. The poverty rate is 13.8%.
Key Takeaways
- Unemployment rate of 12.2% is notably above the national average.
Banks town Quick Facts
How Banks town Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
Moderate diversity with one or two groups making up the majority.
State average: 52 | National average: 60
Education
Educational Attainment (Adults 25+)
Banks town Rankings in Alabama
Explore Alabama Rankings
Cities Similar to Banks town
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Malcolm CDP | 305 | N/A | N/A | 0.0% | 100.0% |
| Cullomburg CDP | 310 | N/A | N/A | 9.5% | 61.9% |
| Gordonville town | 311 | $46,875 | $61,000 | 4.8% | 23.8% |
| Bakerhill town | 280 | $54,327 | $97,100 | 14.4% | 15.8% |
| Hammondville town | 330 | $50,536 | $99,400 | 12.0% | 15.4% |
Population Overview
Banks town is a small community located in Alabama. The total population is 298. It ranks as the 472nd most populous out of 589 cities and towns in Alabama.
Age Demographics
The median age in Banks town is 30.8 years. This is 22% lower than the state median of 39.3 years. Only 12.1% of residents are under 18, indicating fewer families with children. 12.4% of residents are 75 or older, suggesting a significant retirement-age population with implications for healthcare services and senior housing.
Economy, Income & Housing
The median household income in Banks town is $49,773. This is 20% lower than the state median of $62,027. Compared to the national median of $78,538, household income here is 37% lower. The poverty rate stands at 13.8%. This is 12% lower than the state poverty rate of 15.6%. The unemployment rate is 12.2%. This is 154% higher than the state rate of 4.8%. 83.0% of occupied housing units are owner-occupied. This homeownership rate is 19% higher than the state average of 69.9%.
Race & Ethnicity
The largest racial or ethnic group in Banks town is White (non-Hispanic), making up 53.0% of the population. Black or African American residents account for 47.0%. The Black or African American population is significantly higher than the state average (47.0% vs 25.9%).
Education
23.1% of residents aged 25 and older hold a bachelor's degree or higher. This is 17% lower than the state rate of 27.8%. Nationally, 35.0% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 78.5%.
Data Sources & Methodology
All demographic data for Banks town, Alabama is sourced from the U.S. Census Bureau's American Community Survey (ACS) 5-Year Estimates (2019-2023). The ACS collects data from approximately 3.5 million households annually, providing reliable estimates for communities of all sizes. Comparisons are made against Alabama state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 589 Census-designated places in Alabama. For official data, visit data.census.gov.
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Frequently Asked Questions
What is the population of Banks town, Alabama?
Banks town, Alabama has a population of 298 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Banks town, AL?
The median household income in Banks town is $49,773, which is 37% lower the national median of $78,538.
What is the poverty rate in Banks town, AL?
The poverty rate in Banks town is 13.8%. This means approximately 41 residents live below the federal poverty line.
What is the racial makeup of Banks town, Alabama?
Banks town's population is 53.0% White, 47.0% Black, 0.0% Hispanic/Latino, and 0.0% Asian.
What is the median home value in Banks town, AL?
The median home value in Banks town is N/A.
How educated is Banks town, Alabama?
23.1% of adults (25+) in Banks town hold a bachelor's degree or higher, and 8.1% hold a graduate or professional degree.