Cost Of Living in Banks Springs, LA

A+

19%

Overall NAT. AVG.

12%

Goods & Services NAT. AVG.

36%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Banks Springs	Louisiana	National
Cost of living	81	91	100
Goods & Services	88	96	100
Groceries	94	95	100
Health care	103	99	100
Housing	64	81	100
Transportation	88	96	100
Utilities	78	84	100

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Cost Of Living Quick Facts

The cost of living in Banks Springs is 10% lower than the Louisiana average
The cost of living in Banks Springs is 19% lower than the national average
Banks Springs housing is 36% lower than the national average
Louisiana general sales tax is 13% lower than the national average
Louisiana state income tax is 18% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$0	$0	$0	$0
Renters	$40,350	$3,363	$941	$1,211

Louisiana Sales Tax

State	General Sales Tax	With Max Surtax
Louisiana	4.45%	11.45%

Louisiana Income Tax

State	Income Tax (Low)	Income Tax (High)
Louisiana	1.85%	4.25%

Goods & Services

Item	Banks Springs	National avg.	Difference
Haircut	$23.22	$24.26	4.3%
Beauty Salon	$46.11	$45.56	1.2%
Toothpaste	$3.52	$3.70	4.9%
Shampoo	$1.33	$1.28	3.9%
Movie	$12.98	$12.13	7.0%
Bowling	$20.00	$18.00	11.1%

Groceries

Item	Banks Springs	National avg.	Difference
Ground Beef	$6.31	$5.84	8.0%
Fried Chicken	$1.67	$1.57	6.2%
Milk	$4.61	$4.67	1.3%
Potatoes	$5.17	$4.93	4.8%
Pizza	$10.99	$12.09	9.1%
Beer	$9.63	$10.41	7.5%

Health Care

Item	Banks Springs	National avg.	Difference
Optometrist	$110.11	$125.68	12.4%
Doctor	$173.89	$135.78	28.1%
Dentist	$128.33	$113.29	13.3%
Ibuprofen	$10.39	$10.65	2.5%
Lipitor	$524.60	$468.60	12.0%

Housing

Item	Banks Springs	National avg.	Difference
Home Price	$0.00	$184,700.00	100.0%
Avg. Mortgage Payment	$3,477.84	$2,346.69	48.2%
Apartment Rent	$609.00	$949.00	35.8%

Transportation

Item	Banks Springs	National avg.	Difference
Gasoline	$3.15	$3.46	9.0%
Tire Balancing	$56.44	$59.92	5.8%

Utilities

Item	Banks Springs	National avg.	Difference
All Electricity	$126.52	$193.99	34.8%
Phone	$186.90	$192.25	2.8%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Urania, LA	1,471	74	26.0%
Clarks, LA	596	75	24.8%
Olla, LA	1,912	76	23.6%
Grayson, LA	568	80	20.1%
Columbia, LA	514	85	15.3%
Banks Springs, LA	1,185	81	18.8%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Ashton, ID	1,185	96	4.0%
Pen Mar, PA	1,185	110	9.7%
Obion, TN	1,185	78	21.5%
Lake Medina Shores, TX	1,185	80	20.0%
Lot 25, PE	1,185	n/a
Banks Springs, LA	1,185	81	18.8%