Home Insurance in Banks, Arkansas
With a median home value of $60,000, Banks is 37% lower than the Bradley County median.
The typical home in Banks was built around 1975. About 19% of homes were built before 1960, in line with Bradley County (18%). Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
In Banks, the housing stock is 79% single-family homes and 21% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
25% of owner-occupied homes in Banks carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 21%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 85% of occupied homes in Banks are owner-occupied.
Most homes in Banks - 52% - are primarily heated with electricity. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA rates Bradley County's overall risk as Very Low, led by earthquake (Relatively Low). Bradley County had 19 active NFIP flood policies as of September 2026. See the full Bradley County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Arkansas carries a statewide average premium of $1,870 per year.
Key figures
| Median home value | $60,000 |
|---|---|
| Median year built | 1975 |
| Owner-occupied share | 85% |
| Share of owner-occupied homes with a mortgage | 25% |
| Top county hazard | Earthquake (Relatively Low) |
| Active NFIP policies in Bradley County | 19 |
| Home insurance premium | $1,870 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)