The Town FilesBanks, Michigan
Township in Antrim County · population 1,588 (2020 Census)
- Median home
- $248,800
- Household income
- $71,326
- Jan low / Jul high
- 12° / 78°
- Snow a year
- 122 in
- Tornadoes ≤10 mi since 1950
- 2
- Median age
- 48.2
Banks is a township of 1,588 people in Antrim County, Michigan. The median home is worth $248,800, above the typical Michigan town ($193,900). It ranks better for a vacation home than 96% of Michigan towns, better for retirees than 95% of Michigan towns, better for families than 93% of Michigan towns.
How Banks ranks
Percentile among Michigan towns with at least 500 people on The Town Files lifestyle rankings. 50 is typical for the state; 90 means better than 90% of Michigan towns.
Homes and cost of living
The median home in Banks is worth $248,800, above the typical Michigan town ($193,900). Homes cost about 3.5 times the median household income of $71,326, which is more affordable than 19% of Michigan towns. Median rent is $731 a month. 87.9% of households own their home.
| Housing | Banks | Typical Michigan town |
|---|---|---|
| Median home value | $248,800 | $193,900 |
| Median rent | $731 | $955 |
| Median household income | $71,326 | $69,792 |
| Home value ÷ income | 3.5× | 2.8× |
| Homeownership | 87.9% | 86.8% |
| Median year built | 1970 | 1975 |
| Seasonal / vacation homes | 30.2% | — |
Who lives in Banks
| People | Banks | Typical Michigan town |
|---|---|---|
| Median age | 48.2 | 43.7 |
| Age 65 and over | 23.6% | 20.7% |
| Under 18 | 19.1% | — |
| Bachelor's degree or higher | 30.8% | 21.5% |
| Below the poverty line | 4.4% | 10.4% |
| Veterans | 11.6% | — |
| Born outside the U.S. | 2.5% | — |
| Work from home | 6.6% | 9.1% |
| Average commute | 25.4 min | 25.6 min |
| Homes with broadband | 88.4% | 88.8% |
Weather in Banks
July highs average 77.8°F and January lows 11.8°F. About 35.8 inches of rain and melted snow fall a year, with 122.2 inches of snow (typical Michigan town: 52.1 in). Expect about 5 days a year at 90°F or hotter and 170 nights at or below freezing.
Tornadoes, storms and disasters
2 tornadoes have passed within 10 miles of Banks since 1950, compared with 10 for the typical Michigan town. 1 rated (E)F2 or stronger. The strongest, an F2, struck on July 31, 1977 about 8.3 miles from the town center. The most recent was on May 31, 1998.
Hail of 1 inch or larger has been reported within 10 miles 11 times; the largest was 3.00 inches on July 8, 2016.
Severe weather in Antrim County since 1996
Antrim County has been included in 7 federal disaster or emergency declarations since 1953, most often for flood, drought, hurricane.
| Declared | Incident | Declaration |
|---|---|---|
| June 30, 2026 | Flood | DR-4925: Severe Storms, Tornadoes, And Flooding |
| July 22, 2025 | Severe Ice Storm | DR-4880: Severe Winter Storm |
| March 27, 2020 | Biological | DR-4494: Covid-19 Pandemic |
| March 13, 2020 | Biological | EM-3455: Covid-19 |
| September 7, 2005 | Hurricane | EM-3225: Hurricane Katrina Evacuation |
Jobs and pay in Antrim County
Antrim County had 5,128 jobs in 2024, paying an average of $42,968 a year. Unemployment was 5.4% in 2023; in Banks itself the ACS puts it at 4.6%.
Towns near Banks
- Marion, MI6.1 mi · 1,657 people · home $271,600
- Central Lake, MI6.3 mi · 2,159 people · home $228,200
- South Arm, MI6.8 mi · 1,939 people · home $262,400
- Norwood, MI7.0 mi · 700 people · home $320,800
- Central Lake, MI7.2 mi · 960 people · home $167,100
- East Jordan, MI8.6 mi · 2,239 people · home $148,000
- Eveline, MI8.9 mi · 1,515 people · home $459,100
- Torch Lake, MI9.1 mi · 1,212 people · home $570,400
Banks questions
Is Banks, Michigan a good place to retire?
On The Town Files lifestyle rankings, Banks scores better for retirees than 95% of Michigan towns and quieter than 87%. 23.6% of residents are 65 or older (median age 48.2).
How much does a house cost in Banks?
The median owner-occupied home in Banks is valued at $248,800 (Census ACS 2020–2024), against a median household income of $71,326, so homes cost about 3.5 times income. Median rent is $731 a month.
What is the weather like in Banks?
July highs average 77.8°F and January lows 11.8°F (NOAA 1991–2020 normals). It gets about 35.8 inches of precipitation a year and 122.2 inches of snow.
Does Banks get tornadoes?
2 tornadoes have passed within 10 miles of Banks since 1950 (NOAA Storm Events); the strongest was a F2 on July 31, 1977. The typical Michigan town has had 10.
- U.S. Census Bureau, American Community Survey 5-year estimates (2020–2024)
- U.S. Census Bureau, 2020 Census and 2025 Gazetteer (2020 / 2025)
- NOAA NCEI U.S. Climate Normals (1991–2020)
- NOAA NCEI Storm Events Database (1950–2026)
- FEMA OpenFEMA Disaster Declarations (this product uses the FEMA OpenFEMA API but is not endorsed by FEMA) (1953–2026)
- NCES Common Core of Data (2023–24)
- BLS Quarterly Census of Employment and Wages; USDA ERS county unemployment (BLS LAUS) (2000–2024)
- The Town Files lifestyle rankings, built from federal demographic, school, crime and housing data (2025)