Commercial Real Estate Market in Banks, OR
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
10 active listings and 152 off-market properties in Banks, OR.
Market Trends
Banks, OR spans 76.2 square miles in Washington County, Oregon. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Banks, OR runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Banks, OR runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Banks, OR runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily space in Banks, OR asks $277/SF to buy. Vacancy runs 8.6% across the West region in 2025, up from 7% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 60.9%
- Industrial 10.3%
- Commercial 7.2%
- Mixed use 1.8%
Largest Zones share of zoned land by district
Low Density Residential
Medium Density Residential Low
Community Facilities
General Industrial
Medium Density Residential High
Banks, OR zones 476 acres across 9 districts. Commercial zoning covers 7.2% of zoned land, residential 60.9% and industrial 10.3%. The largest single district is Low Density Residential at 28.1%. For commercial buyers the practical constraint is that only 17.5% of land carries a commercial or industrial designation.
Community Facilities (CF)
Community Facilities Zone CF. The purpose of the Community Facilities Zone is to provide for community facilities on properties owned by public or semi-public agencies, while encouraging protection of natural resources designated by the comprehensive plan under the requirements of statewide planning goals. (2) General Commercial Zone C. The purpose of the Ge…
Market overview
Demographics & Economy
Banks, OR has 5,443 residents in 2,160 households. Density runs 71 people per square mile. Median household income here is $112,445 and median gross rent $1,589 a month.
5,443
Population
2,160
Households
2.5
Avg Household Size
41
Median Age
38%
College-Educated
95%
High-School Grad
76.2 sq mi
ZIP Area
71
Density / Sq Mi
$112,445
Median Household Income
$64,189
Median Earnings
$1,589
Median Rent
$519,750
Median Home Value
Tools
Frequently Asked Questions
What is the average price per square foot for commercial property in Banks?
Commercial property in Banks, OR asks an average of $558,071 per square foot. Multifamily carries the highest asking price at $277/SF.
What zoning applies to commercial property in Banks?
Banks, OR zones 476 acres across 9 districts, of which 7.2% is commercial and 10.3% industrial. The largest single district is Low Density Residential at 28.1% of zoned land. Residential zoning covers 60.9% and open space 0%.
Where does Realmo's Banks market data come from?
Realmo compiles Banks, OR figures from 6 recent recorded sales, 10 active sale listings, 152 tracked off-market properties, the current Banks zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 10 active for-sale and 0 active for-lease listings in Banks, OR. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 476 zoned acres across 9 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
