Banks is a city located in Michigan. Banks has a 2024 population of 1,683. Banks is currently growing at a rate of 1.32% annually and its population has increased by 5.98% since the most recent census, which recorded a population of 1,588 in 2020.
The average household income in Banks is $84,036 with a poverty rate of 1.95%. The median age in Banks is 49.7 years: 49.8 years for males, and 49.5 years for females.
According to the most recent ACS, the racial composition of Banks was:
White
Two or more races
Black or African American
Native American
Other race
Asian
Native Hawaiian or Pacific Islander
Household Type | Count | Average Size | Owner | Renter |
|---|---|---|---|---|
| All | 620 | 2.18 | 89.4 | 10.6 |
| Married | 341 | 2.8 | 93.8 | 6.2 |
| Non Family | 204 | 1.2 | 84.8 | 15.2 |
| Male | 46 | 2.11 | 78.3 | 21.7 |
| Female | 29 | 2 | 86.2 | 13.8 |
2.62
Average Family Size
2.18
Average Household Size
89.4%
Rate of Home Ownership
Married
Male
Female
NonFamily
owner
renter
Male
Female
Less Than 9th Grade
9th to 12th Grade
High School Graduate
Some College
Associates Degree
Bachelors Degree
Graduate Degree
High School Graduation Rate
Bachelors Rate
The highest rate of high school graduation is among black people with a rate of 100%.
The highest rate of bachelors degrees is among black people with a rate of 60%.
All
Male
Female
$42,188
Average Earnings
$46,974
Average Male
$27,014
Average Female
Only English
Spanish
Other Indo-European Languages
Asian and Pacific Island Languages
Other Languages
93.98% of Banks residents speak only English, while 6.02% speak other languages. The non-English language spoken by the largest group is Other Indo-European, which is spoken by 3.19% of the population.
rate
1.95%
Overall Poverty Rate
2.19%
Male Poverty Rate
1.67%
Female Poverty Rate
The race most likely to be in poverty in Banks is Multiple, with 3.57% below the poverty level.
The race least likely to be in poverty in Banks is White, with 1.92% below the poverty level.
The poverty rate among those that worked full-time for the past 12 months was 0%. Among those working part-time, it was 1.46%, and for those that did not work, the poverty rate was 5.23%.
Married
Widowed
Divorced
Separated
NeverMarried
58.2%
Overall Marriage Rate
55.7%
Male Marriage Rate
61.0%
Female Marriage Rate
male
female
The age group where males are most likely to be married is 35-44, while the female age group most likely to be married is 35-44.
Married
Widowed
Divorced
Separated
NeverMarried
Less Than 9th Grade
High School Graduate
Some College
Bachelors or Greater
4.72%
Veteran Poverty Rate
37.8%
Veteran Disability Rate
LaborForceParticipation
64.3%
Labor Force Participation
59.9%
Employment Rate
6.6%
Unemployment Rate
LaborForceParticipation
LaborForceParticipation
Europe
Asia
Africa
Oceania
Latin America
North America
Non citizens include legal permanent residents (green card holders), international students, temporary workers, humanitarian migrants, and illegal immigrants.
Europe
Asia
Africa
Oceania
Latin America
North America
80.03%
Born in Banks
97.19%
Native Born
2.81%
Foreign Born
1.8%
Non Citizen
1.01%
Naturalized
97.19% of Banks residents were born in the United States, with 80.03% having been born in Michigan. 1.8% of residents are not US citizens. Of those not born in the United States, the largest percentage are from Latin America.
Year | Population | Growth | Growth Rate |
|---|---|---|---|
| 2029 | 1,793 | 22 | 1.24% |
| 2028 | 1,771 | 22 | 1.26% |
| 2027 | 1,749 | 22 | 1.27% |
| 2026 | 1,727 | 22 | 1.29% |
| 2025 | 1,705 | 22 | 1.31% |
| 2024 | 1,683 | 22 | 1.32% |
| 2023 | 1,661 | 22 | 1.34% |
| 2022 | 1,639 | 22 | 1.36% |
| 2021 | 1,617 | 29 | 1.83% |
| 2020 | 1,588 | -1 | -0.06% |
| 2019 | 1,589 | 0 | 0% |
| 2018 | 1,589 | 5 | 0.32% |
| 2017 | 1,584 | 11 | 0.7% |
| 2016 | 1,573 | 2 | 0.13% |
| 2015 | 1,571 | -7 | -0.44% |
| 2014 | 1,578 | 0 | 0% |
| 2013 | 1,578 | -8 | -0.5% |
| 2012 | 1,586 | -6 | -0.38% |
| 2011 | 1,592 | -11 | -0.69% |
| 2010 | 1,603 | 0 | 0% |