Cost of Living in Banks, AR
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
76.5
100 = national avg
-23.5 vs national average
Living Wage (1 Adult)
$33,649
per year
Living Wage (Family of 4)
$79,533
per year
Cost Index by Category
Housing39.5
Food98.7
Transportation97.5
Healthcare99.0
Utilities87.1
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$710
per month
2 Bedroom
$880
per month
The overall cost of living index in Banks is 76.5, which is 23.5% below the national average. Housing costs are below the national average at an index of 39.5. A single adult needs to earn approximately $33,649 per year to cover basic expenses.