The typical owner-occupied home in Banks County is worth about $278,100, 8% below the Georgia median of $303,300 and 16% below the national median of $332,700. Owners pay a median $1,663 a year in property taxes, about 0.60% of their home's value, lower than the Georgia rate of 0.77%. The median household earns $77,063 a year, so the median home costs 3.6 times the median income (3.9 times for Georgia). 79% of occupied homes here are lived in by their owners, and 54% of those owners still have a mortgage.
Banks County at a glance
| Banks County | Georgia | U.S. | |
|---|---|---|---|
| Median home value | $278,100 | $303,300 | $332,700 |
| Median property tax paid per year | $1,663 | $2,341 | $3,119 |
| Property tax as a share of value | 0.60% | 0.77% | 0.94% |
| Median household income | $77,063 | $77,353 | $80,734 |
| Homes lived in by their owners | 79% | 66% | 65% |
| Owner homes with a mortgage | 54% | 63% | 61% |
| Median monthly costs, owners with a mortgage | $1,458 | $1,783 | $1,963 |
| Those costs as a share of the owners' income | 20.5% | 20.0% | 21.0% |
| Median rent | $827 | $1,393 | $1,413 |
| Rent as a share of renters' income | 22.4% | 31.3% | 30.6% |
| Median year homes were built | 1993 | 1992 | 1980 |
| Vacant homes | 8.3% | 10.3% | 10.1% |
| Population | 19,264 | 10,940,407 | 334,922,499 |
What a typical home costs per month in Banks County
At this week's average 30-year rate of 7.11%, buying the median Banks County home of $278,100 with 20% down costs about $1,752 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,215, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $75,067 for the 20%-down payment. That payment is 27% of the median Banks County household income of $77,063; at that income and 20% down, the 28% guideline points to a home of about $285,000.
The median rent here is $827 a month, so owning the median home costs about $925 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $55,620 |
|---|---|
| Loan amount | $222,480 |
| Principal and interest | $1,497 |
| Property taxes (0.60% a year) | $139 |
| Homeowners insurance (our estimate, 0.5% a year) | $116 |
| PMI | $0 |
| Total per month | $1,752 |
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| Down payment | $9,734 |
|---|---|
| Loan amount | $273,063 |
| Principal and interest | $1,837 |
| Property taxes (0.60% a year) | $139 |
| Homeowners insurance (our estimate, 0.5% a year) | $116 |
| FHA mortgage insurance | $123 |
| Total per month | $2,215 |
Change the numbers in the calculator
Questions about home buying in Banks County
What is the median home value in Banks County?
About $278,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Banks County?
Homeowners pay a median $1,663 a year, which is about 0.60% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Banks County?
For the median home with 20% down at 7.11%, the payment is about $1,752 a month. Keeping that under 28% of gross income takes about $75,067 a year.
More about Banks County
- Mortgage Refinance in Banks County
- Debt Relief in Banks County
- Home Equity Loans in Banks County
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data