What is the median household income in Banks Township (Indiana County), PA?
The median household income in Banks Township (Indiana County), PA is $58,750 (±$11,581) a year (2020–2024 American Community Survey).
Paying the median gross rent of $811 a month would take about $32,400 a year at the common guideline of spending no more than 30% of income on rent.
In Banks Township (Indiana County), the median household income went from $57,500 in 2015–2019 to $58,750 in 2020–2024 (+2.2%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Figures last updated on .
- Median household income
- $58,750 (±$11,581)
- Median renter income
- $50,893 (±$13,467)
- Income to afford median rent
- about $32,400
Income in Banks Township (Indiana County) against Indiana County, its state and the nation
| Banks Township (Indiana County) | Indiana County | Pennsylvania | United States | |
|---|---|---|---|---|
| Median household income | $58,750 (±$11,581) | $60,208 (±$2,473) | $77,971 (±$342) | $80,734 |
| Median renter household income | $50,893 (±$13,467) | $32,750 (±$3,052) | $47,506 (±$425) | $52,966 |
| Median owner household income | $61,375 (±$14,993) | $72,575 (±$2,493) | $95,990 (±$362) | $100,009 |
| Median gross rent | $811 (±$185) | $800 (±$31) | $1,209 (±$5) | $1,413 |
In Banks Township (Indiana County), median household income is not measurably different from Indiana County ($60,208).
It is also lower than in Pennsylvania ($77,971).
It is lower than the national figure ($80,734).
In Indiana County, Banks Township (Indiana County) ranks 27 of 38 places with a published estimate, from highest to lowest median household income.
Statewide, it ranks 1966 of 2,545.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
How much you need to earn to rent in Banks Township (Indiana County)
Many landlords and housing programs use 30% of gross income as the most a household should spend on rent.
At that guideline, the median gross rent of $811 a month ($9,732 a year) needs an income of about $32,400 a year.
The median renting household in Banks Township (Indiana County) earns $50,893 a year.
This is arithmetic on the published medians, not a rule any landlord must follow; screening criteria vary and some places limit how income may be weighed.
Income against housing costs since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median household income | $57,500 (±$6,472) | $58,750 (±$11,581) | +2.2% | No measurable change after inflation |
| Median gross rent | $639 (±$273) | $811 (±$185) | +26.9% | No measurable change after inflation |
| Median home value | $97,800 (±$12,568) | $144,400 (±$26,969) | +47.6% | No measurable change after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Median household income in places near Banks Township (Indiana County)
| Place | Distance | Median household income | Compared with this place |
|---|---|---|---|
| Banks Township (Indiana County) | — | $58,750 (±$11,581) | — |
| Glen Campbell | 3.2 mi | $43,125 (±$10,976) | Not measurably different |
| Burnside | 4.6 mi | $41,875 (±$16,724) | Not measurably different |
| Canoe Township | 4.9 mi | $67,950 (±$6,355) | Not measurably different |
| Gaskill Township | 5.6 mi | $56,917 (±$21,798) | Not measurably different |
| Montgomery Township (Indiana County) | 6.5 mi | $65,972 (±$13,070) | Not measurably different |
| Mahaffey | 6.9 mi | $62,188 (±$26,500) | Not measurably different |
| Bell Township (Clearfield County) | 7.0 mi | $61,406 (±$15,481) | Not measurably different |
| Bell Township (Jefferson County) | 7.1 mi | $56,731 (±$16,558) | Not measurably different |
None of the nearby places differs measurably from this one on this figure.
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median household income across Indiana County, place by place
| Rank | Place | Median household income |
|---|---|---|
| 21 | Conemaugh Township (Indiana County) | $63,478 (±$11,634) |
| 22 | South Mahoning Township | $61,786 (±$10,820) |
| 23 | Cherry Tree | $60,625 (±$30,725) |
| 24 | Rayne Township | $60,582 (±$13,118) |
| 25 | Green Township (Indiana County) | $60,274 (±$9,470) |
| 26 | Grant Township | $59,531 (±$16,084) |
| 27 | Banks Township (Indiana County) | $58,750 (±$11,581) |
| 28 | Blairsville | $56,337 (±$10,440) |
| 29 | North Mahoning Township | $55,469 (±$9,246) |
| 30 | West Mahoning Township | $55,156 (±$12,048) |
| 31 | Creekside | $52,500 (±$18,598) |
| 32 | East Wheatfield Township | $51,164 (±$18,235) |
| 33 | Burrell Township (Indiana County) | $50,948 (±$12,425) |
Showing 13 of 38 places in Indiana County, ranked from highest to lowest.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Banks Township (Indiana County)
What is the median household income in Banks Township (Indiana County)?
The median household income in Banks Township (Indiana County) is $58,750 (±$11,581) a year (2020–2024 American Community Survey).
How much do you need to make to afford rent in Banks Township (Indiana County)?
About $32,400 a year, if rent is to stay at or below 30% of income at the median gross rent of $811 a month.
Have incomes in Banks Township (Indiana County) kept up with inflation?
In Banks Township (Indiana County), the median household income went from $57,500 in 2015–2019 to $58,750 in 2020–2024 (+2.2%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
What do renters earn in Banks Township (Indiana County)?
The median renting household in Banks Township (Indiana County), PA earns $50,893 (±$13,467) a year.
Sources
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Banks township, Indiana County, Pennsylvania
- Median Household Income by Tenure (B25119), 2020–2024 ACS 5-year estimates — Banks township, Indiana County, Pennsylvania
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Banks township, Indiana County, Pennsylvania
- Median Household Income (B19013), 2015–2019 ACS 5-year estimates — Banks township, Indiana County, Pennsylvania
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Banks township, Indiana County, Pennsylvania
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Banks township, Indiana County, Pennsylvania
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Banks township, Indiana County, Pennsylvania (county subdivision:04056, in state:42 county:063).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B19013_001E, B19013_001M, B25064_001E, B25064_001M, B25077_001E, B25077_001M from the 2019 release.
The API needs a free key.
DP03_0062E, DP03_0062M, B25119_003E, B25119_003M, B25119_002E, B25119_002M, DP04_0134E, DP04_0134M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
Related
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- Renters and owners in Banks Township (Indiana County)
- Home values in Banks Township (Indiana County)
- Homeowner costs in Banks Township (Indiana County)
- Property taxes in Banks Township (Indiana County)
- Types of homes in Banks Township (Indiana County)
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- Age of homes in Banks Township (Indiana County)
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- Commute and cars in Banks Township (Indiana County)
- Population growth in Banks Township (Indiana County)
- How long people stay in Banks Township (Indiana County)
- Pennsylvania landlord and tenant rules
- Housing across Indiana County
- Pennsylvania places ranked by median household income
- Housing data for every place in Pennsylvania