Cost Of Living in Banks, ID

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A

4%

Overall NAT. AVG.

4%

Groceries NAT. AVG.

100%

Housing NAT. AVG.

Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.

The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index	Banks	Idaho	National
Cost of living	104	98	100
Groceries	104	102	100
Health care	103	101	100
Housing	n/a	90	100
Transportation	105	103	100
Utilities	99	101	100
Lifestyle & Entertainment	109	105	100
Household Items	100	101	100
Education & Childcare	107	101	100

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Homes For Sale In Banks, ID

TBD White Mesa

Banks, ID

TBD Cruickshank Rd

Banks, ID

Cost Of Living Quick Facts

The cost of living in Banks is 6% higher than the Idaho average
The cost of living in Banks is 4% higher than the national average
Banks housing is 13% higher than the national average
Idaho general sales tax is 18% higher than the national average
Idaho state income tax is 123% higher than the national average

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Price difference in compared to

Cost of living index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Lifestyle index
Household index
Educare 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	$0	$0	$0	$0

Idaho Sales Tax

State	General Sales Tax	With Max Surtax
Idaho	6%	8.5%

Idaho Income Tax

State	Income Tax (Low)	Income Tax (High)
Idaho	5.8%	5.8%

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Horseshoe Bend, ID	866	94	6.3%
Placerville, ID	56	95	4.9%
Crouch, ID	149	109	8.6%
Garden Valley, ID	490	111	11.2%
Banks, ID	6	104	4.0%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Kupreanof, AK	6	114	14.2%
Roosevelt, AZ	6	102	1.8%
Wide Ruins, AZ	6	98	2.3%
Keeler, CA	6	116	16.0%
Lakeside, CO	6	90	10.0%
Banks, ID	6	104	4.0%