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The total population of Banks township is estimated to be 1,160 with 520 males (44.83%) and 640 females (55.17%). There are 120 more females than males in Banks township.
The median household income in Banks township was $57,423 in 2021, which marked an an increase of 530(0.93%) from $56,893 in 2020. This income is 76.97% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Banks township sees its highest median household income among householders in the age group of 25 to 44 years old, at $89,561. Overall, the median household income for the township of Banks township stands at $57,423.
In Banks township, the median income for all workers aged 15 years and older, regardless of work hours, was $38,620 for males and $15,300 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $58,406 for males and $35,130 for females.
In Banks township, population is primarily represented by White households, reporting a median income of $57,592.
In 2022, the population of Banks township was 898, a 0.00% decrease year-by-year from 2021. Previously, in 2021, Banks township's population was 898, a decline of 0.33% compared to a population of 901 in 2020.
The median age in Banks township, Indiana County, Pennsylvania is 32.4, as per 2021 ACS 5-Year Estimates. Of the total population, 17.49% were under the age of 15, 29.96% aged 15 to 29, 33.25% aged 30 to 64, 14.98% aged 65 to 84, and 4.33% were 85 years of age and older.
Racial distribution of Banks township population: 99.91% are White and 0.09% are multiracial.