Cost of Living in Banks Springs, LA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
46.3
100 = national avg
-53.7 vs national average
Living Wage (1 Adult)
$20,363
per year
Living Wage (Family of 4)
$48,131
per year
Cost Index by Category
Housing34.2
Food67.0
Transportation34.0
Healthcare73.6
Utilities67.0
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$647
per month
2 Bedroom
$834
per month
The overall cost of living index in Banks Springs is 46.3, which is 53.7% below the national average. Housing costs are below the national average at an index of 34.2. A single adult needs to earn approximately $20,363 per year to cover basic expenses.