The size of Banoon is approximately 128.6 square kilometres. The population of Banoon in 2011 was 302 people. By 2016 the population was 22 showing a population decline of 92.7% in the area during that time. The predominant age group in Banoon is 60-69 years. Households in Banoon are primarily childless couples and are likely to be repaying under $300 per month on mortgage repayments. In general, people in Banoon work in a managers occupation. In 2006, 16.6% of the homes in Banoon were owner-occupied compared with 67.9% in 2011.