Everything You Should Know Before Moving to Banco, VA
Thinking about moving to Banco, VA? This quiet rural community of about 150 people offers an affordable lifestyle, with median home prices around $210,000 and rents averaging $900. Crime rates here are very low, and you'll enjoy a good amount of sunny days and scenic Blue Ridge views. Commute times average about 32 minutes, and while amenities are limited in-town, solid public schools and friendly neighbors make Banco a peaceful choice for those seeking small-town Virginia living.
Demographics - Banco, VA
Banco, VA is a small rural community with a population of around 150, where the median age is 45 and the area is predominantly White. The town has a balanced gender ratio and a close-knit feel, with a low percentage of non-English speakers and a relaxed pace of life.
Population:
150
Density:
30 per sq mi
Median Age:
45.2
Gender Ratio:
99 males per 100 females
Non-English Speakers Percentage:
4.2%
Ethnic Composition
White:
91.0%
Black:
3.5%
Asian:
1.0%
Others:
4.5%
Cost Of Living
What is the average cost of living in Banco, VA?
Banco offers an affordable cost of living, with median home values near $210,000 and average rent at $900. Utility and transportation costs are below the national average, making it a budget-friendly option for those seeking small-town living in Virginia.
Median House Value:
$210,000
Gross Rent:
$900
Monthly Electricity Charges:
$125
Auto Insurance:
$1,230
House Owner Cost With Mortgage:
$1,140
House Owner Cost Without Mortgage:
$420
State Taxes:
Low:
2.0%
|
High:
5.75%
Cost Of Living Index:
89.4
Grocery:
96.0
Housing:
72.0
Utilities:
98.0
Transportation:
89.0
Health Care:
93.0
Miscellaneous:
90.0
Crime
Is Banco, VA a safe place to live?
Banco experiences very low crime rates, with violent crime being rare and property crimes uncommon. Residents enjoy a strong sense of safety, making it an appealing choice for families and individuals seeking peace of mind.
Violent Crimes Per 100k:
60
Property Crimes Per 100k:
690
Crime Index:
750
Chance Of Violent Crime:
1 in 1,600
Chance Of Property Crime:
1 in 145
Weather
What is the weather like in Banco, VA year-round?
The climate in Banco features four distinct seasons, with mild winters averaging 25–43°F and warm summers reaching up to 86°F. The area receives about 44 inches of rainfall annually and enjoys sunshine nearly 60% of the year, perfect for those who appreciate a blend of all seasons.
Winter
Min:
25°F
Max:
43°F
Spring
Min:
44°F
Max:
70°F
Summer
Min:
62°F
Max:
86°F
Fall
Min:
46°F
Max:
71°F
Average Rainfall Inches:
43.5 inches
Sunny Days Percentage:
59%
Neighbors
Banco's residents typically earn a median household income of $52,000, and most commute about 32 minutes to work. The community is friendly and educated, with a high school graduation rate above 86% and a local culture grounded in neighborly values.
Median Income:
$35,000
Household Income:
$52,000
Family Income:
$60,000
Per Capita Income:
$27,000
Income Male:
$36,000
Income Female:
$29,000
Poverty Rate:
13.0%
Non English Speakers:
4.2%
Rent:
$900
Unemployment Rate:
4.0%
Public Transport Usage:
0.2%
Commute Time:
32.5 minutes
Education
High School or Higher:
86.5%
Bachelors or More:
17.2%
Education
How are the schools in Banco, VA?
Banco offers access to solid public schools with low student-teacher ratios, as well as nearby private school options. For higher education, residents are within driving distance of major colleges like James Madison University and Piedmont Virginia Community College, supporting lifelong learning.
Public Schools
Name:
Madison County High School
Street:
68 Mountaineer Lane
Phone:
540-948-3785
Students:
625
Student Teacher Ratio:
13.5
Name:
Waverly Yowell Elementary School
Street:
1809 Main St
Phone:
540-948-4511
Students:
500
Student Teacher Ratio:
14.0
Private Schools
Name:
Redeemer Classical School
Street:
109 Madison Ave, Keezletown, VA
Phone:
540-437-0880
Students:
140
Colleges
Name:
Piedmont Virginia Community College
City:
Charlottesville
State:
VA
Distance:
37 miles
Students:
5,400
Name:
James Madison University
City:
Harrisonburg
State:
VA
Distance:
45 miles
Students:
21,500
Healthcare
Access to healthcare is reliable in Banco, with a general hospital and approximately 1.5 physicians per 1,000 residents. Nearly 90% of the population has health insurance, ensuring most locals receive essential medical services.
Major Hospitals
Name:
Page Memorial Hospital
Address:
200 Memorial Dr, Luray, VA 22835
Phone:
(540) 743-4561
Type:
General & Surgical
Emergency Services:
Yes
Physicians Per 1000:
1.5
Health Insurance Coverage:
89.5%
Health Care Index:
81.0
Housing Market
What is the housing market like in Banco, VA?
The housing market in Banco is stable and affordable, with a median home price of $210,000 and most residents owning their homes. Rental vacancies are low, and the area has seen modest home appreciation over the past year, reflecting steady demand.
Median Home Price:
$210,000
Average Rent For 2 Bedroom:
$900
Owner Occupied Rate:
74.0%
Rental Vacancy Rate:
7.0%
Home Appreciation Rate (1yr):
4.1%
New Construction Rate:
1.2%
Foreclosure Rate:
0.8%
DMV Information
Residents of Banco are served by the Virginia Department of Motor Vehicles, which provides comprehensive services online and through its main office in Richmond. Information about licensing, registration, and local DMV resources is readily accessible for new arrivals.
State:
Virginia
Department:
Virginia Department of Motor Vehicles
Address:
2300 W Broad St, Richmond, VA 23269
Phone:
1-804-497-7100
Website:
Disclaimer: The information provided on this page is based on publicly available sources including AccuWeather, U.S. Census Bureau, local government data, and third-party partners such as Neustar. While we strive to ensure accuracy, all data is provided “as is” and should be independently verified before making any decisions. Movers.com makes no guarantees regarding the completeness or reliability of the information.