1st Advantage MortgageBanks County households have a median income of $77,063 and median rent of $827 a month (ACS 2020 to 2024). Your income, debts and credit decide what you qualify for. Get offers in writing, compare the total repaid, and never pay a fee up front.
On this page
- Banks County, GA: the basics
- How Banks County residents earn a living
- What Banks County households earn
- Renting and owning in Banks County
- Banks County next to its neighbors
- Places inside Banks County
- Debt-to-income at Banks County's medians
- People and households in Banks County
- What the numbers mean for Banks County borrowers
- Who licenses lenders for Banks County residents
- Checklist for Banks County applicants
- Nearby and statewide guides
- Frequently asked questions
Banks County, GA: the basics
With an estimated 19,264 residents (ACS 2020 to 2024), Banks County ranks 96th of 159 in Georgia for population. Packed into 233 square miles, that is close to 83 residents for every square mile of land. Under the July 2023 OMB definitions, Banks County is not part of any metropolitan area. Of the 5 Census places inside Banks County, Lula leads by population with about 2,964; 5 of the 5 are incorporated.
How Banks County residents earn a living
By the Census industry count, 19% of employed Banks County residents work in manufacturing and 19% in education and health care. Compared with Georgia, the county leans toward manufacturing (19% against 10%). The survey's unemployment rate for Banks County averages 2.9% over 2020 to 2024 (state: 5.1%). Long commutes are common here: 23% of workers spend 45 minutes or longer getting to work.
| Industry (employed residents 16+) | Banks County | Gap to Georgia |
|---|---|---|
| Manufacturing | 19.3% | +9.2 pts |
| Education and health care | 19.2% | -1.8 pts |
| Construction | 9.4% | +2.4 pts |
| Retail trade | 9.3% | -2.0 pts |
| Transportation, warehousing and utilities | 8.6% | +1.3 pts |
| Professional and administrative services | 7.9% | -5.7 pts |
Industry shapes paperwork. Salaried and public jobs are easy to verify, while hourly, tipped, commission or contract earners in Banks County should have bank statements and tax returns ready.
What Banks County households earn
Banks County households have a median income of $77,063 (ACS 2020 to 2024), which ranks 33rd of 159 in Georgia.
| Yearly household income | Banks County | Gap to Georgia |
|---|---|---|
| Under $35,000 | 23.1% | +1.0 pts |
| $35,000 to $99,999 | 41.3% | +1.8 pts |
| $100,000 to $199,999 | 30.3% | +3.8 pts |
| $200,000 or more | 5.3% | -6.6 pts |
About 23% of households earn under $35,000, while 36% clear $100,000. Census counts 11.3% of Banks County residents in poverty, against 13.4% across Georgia. Income inequality, measured by the Gini index, comes to 0.409 here. Income from any regular source can count, including Social Security, pensions and disability benefits, as long as you can document it.
Renting and owning in Banks County
Renters in Banks County pay a median of $827 a month, 41% below the Georgia figure of $1,393. Rent takes 30% or more of income for 36% of renter households here. With a median value of $278,100, a typical Banks County house costs 3.6 times what the median household earns in a year. 79% of Banks County households own their home and 21% rent.
| Measure | Banks County | Georgia | Median U.S. county |
|---|---|---|---|
| Median gross rent | $827/mo | $1,393/mo | $877/mo |
| Median home value | $278,100 | $303,300 | $185,300 |
| Owners | 79% | 66% | 75% |
| Rent-burdened renters | 36% | 52% | 45% |
| Burdened owners | 31% | 26% | n/a |
| Mobile homes | 24.5% | 7.8% | n/a |
In an owner-heavy county like Banks County, many borrowers can also choose a home equity loan or line of credit. Those can price lower but put the house on the line, so compare the two in writing; our personal loan vs. HELOC guide walks through it.
Banks County next to its neighbors
Nearest neighbors first, measured between county centers (16 to 23 miles). Income ranges from $53,046 in Franklin County to $89,544 in Jackson County; 2 of these neighbors top Banks County's median.
| County | Distance | Median income | Median rent | Owners |
|---|---|---|---|---|
| Banks County | - | $77,063 | $827/mo | 79% |
| Franklin County, GA | 16 mi | $53,046 | $844/mo | 77% |
| Jackson County, GA | 16 mi | $89,544 | $1,126/mo | 79% |
| Stephens County, GA | 18 mi | $54,754 | $820/mo | 74% |
| Hall County, GA | 18 mi | $80,901 | $1,341/mo | 69% |
| Habersham County, GA | 20 mi | $67,309 | $974/mo | 73% |
| Madison County, GA | 23 mi | $61,963 | $972/mo | 77% |
Places inside Banks County
Here are the 5 most populous of the county's 5 Census places, with income and rent from the same 2020 to 2024 survey. About 44% of Banks County residents live in one of the 5. Among places of 500 or more people, median income runs from $61,495 in Maysville to $89,083 in Homer. This guide covers each of the 5 places and the rural areas around them.
| Community | Type | Residents | Household income (median) | Rent (median) | Distance |
|---|---|---|---|---|---|
| Lula | city | 2,964 | $69,397 | $1,316 | 10 mi |
| Maysville | town | 2,086 | $61,495 | $1,284 | 7 mi |
| Homer | town | 1,892 | $89,083 | $1,008 | 1 mi |
| Alto | town | 1,055 | $81,250 | $1,051 | 9 mi |
| Gillsville | city | 454 | $98,333 | $2,191 | 8 mi |
Debt-to-income at Banks County's medians
Lenders compare monthly debt payments with gross monthly income, the debt-to-income ratio. For a Banks County household at the medians it works out like this; treat it as an illustration only.
- Monthly gross at the median, Banks County: $6,422
- Less median rent of $827, which is 13% of it
- $1,742: what a 40% ratio leaves once rent is paid
If your rent is above $827, the room shrinks dollar for dollar.
People and households in Banks County
19% of Banks County adults 25 and older hold a bachelor's degree or more. 11.8% of residents have no health coverage.
| Residents | Banks County | Georgia | Middle U.S. county |
|---|---|---|---|
| Median age | 42.1 | 37.6 | 41.5 |
| Bachelor's or higher | 18.6% | 34.9% | 22.2% |
| No high school diploma | 17.0% | 10.8% | n/a |
| No health insurance | 11.8% | 12.4% | 7.8% |
| No vehicle | 2.4% | 5.9% | 5.4% |
| Work from home | 8.7% | 15.9% | 8.7% |
| Poverty rate | 11.3% | 13.4% | 13.2% |
| Unemployment (ACS) | 2.9% | 5.1% | 4.4% |
| Trip time | Share |
|---|---|
| Under 15 min | 17.1% |
| 15 to 29 min | 31.2% |
| 30 to 44 min | 28.9% |
| 45 to 59 min | 11.5% |
| 60+ min | 11.2% |
What the numbers mean for Banks County borrowers
A few patterns in the Banks County data, and the practical point behind each:
- Health costs. With 12% of the county uninsured, an interest-free hospital payment plan usually beats a loan (medical bills).
- Long drives. With 23% of commutes over 45 minutes, tires and repairs are fixed costs in many Banks County budgets.
- Mobile home upkeep. 25% of units fall in this category; roof, skirting and HVAC jobs are common reasons to borrow.
Who licenses lenders for Banks County residents
Licensing happens at the state level, so a lender working with Banks County borrowers answers to the Georgia Department of Banking and Finance. A CFPB complaint gets forwarded to the company for a response. Statewide data and rules: Georgia guide.
Checklist for Banks County applicants
Steps that save money for Banks County residents:
- Write down what the expense costs; a smaller loan costs less.
- Compare the total repaid on every offer, not just the payment.
- Only work with lenders licensed for Georgia borrowers.
- Pick the shortest term whose payment still fits.
Nearby and statewide guides
For statewide rules and data, see the Georgia guide.
Frequently asked questions
What is the median household income in Banks County?
$77,063 a year in the 2020 to 2024 Census survey, versus $77,353 for Georgia. It ranks 33rd of 159 in the state.
How much is rent in Banks County?
Median gross rent, utilities included, is $827 a month; 36% of renters spend 30% or more of income on it.
Should Banks County homeowners use home equity instead?
Maybe, but weigh the risk: 79% of Banks County homes are owner-occupied, and a home-equity loan or line is secured by the house while a personal loan usually is not.
I live in a small Banks County town. Is this my guide?
Yes. If your town has no city guide, this county page is the local one; it covers Lula, Maysville, Homer, Alto, Gillsville.
Will a Banks County address affect my match?
Beyond confirming Georgia as your state, no. Your answers about amount, credit, income and payments are all that count.