Banner Elk, NC

Full City Profile · North Carolina · Avery County County

3.4 /5.0
B Good
1,338 Population 708/sq mi density
$67,917 Median Income $40,200 per capita
$422,900 Home Value $579,439 Zillow
$879 Median Rent 35.3% income on rent
50°F Avg Temperature
B
Overall
3.4 / 5.0
Good overall score based on economy, affordability, safety and education
B+
Economy
3.5 / 5.0
$67,917 median income, 5.6% unemployment
B
Affordability
3.2 / 5.0
$422,900 home value, $879/mo rent
C+
Safety
2.5 / 5.0
0 violent crimes/100K
A+
Education
4.6 / 5.0
44.8% bachelor's degree or higher

Banner Elk, NC

At a Glance

Median Income
$67,917
10% below
$40,200 per capita
Home Value
$422,900
50% above
Zillow: $579,439
Median Rent
$879/mo
24% below
35.3% of income on rent
Violent Crime
0/100K
100% below
173/100K property
Bachelor's Degree+
44.8%
33% above
99.1% high school+
Unemployment
5.6%
56% above
11.5% poverty rate
Obesity Rate
38.2%
19% above
17.1% smoking rate
Avg Temperature
50°F

How Banner Elk Compares to the U.S. Average

Each bar shows Banner Elk's value as a percentage of the national average (100% = U.S. avg)

Income
90%
Home Value
150%
Rent
76%
Poverty
93%
Bachelor's
133%
Unemployment
156%
Crime
0%
Thin vertical line = U.S. national average (100%)

Is Banner Elk a Good Place to Live?

B
3.4 / 5.0 - Good
Based on economy, affordability, safety, and education metrics compared to national averages.

Economy & Jobs

Banner Elk residents earn a median household income of $67,917 , which is 10% below the national average of $75,149. Per capita income is $40,200. The unemployment rate stands at 5.6% (56% above the U.S. rate of 3.6%). 11.5% of residents live below the poverty line. The area is home to 698 business establishments, including 63 restaurants.

Housing & Cost of Living

The median home value in Banner Elk is $422,900 , 50% above the national median of $281,900. Zillow estimates the typical home at $579,439. Median rent is $879/month, with 35.3% of renters spending more than 30% of income on housing. The cost of living index is 94.3 (100 = national average). The median home was built in 2001.

Safety & Crime

Banner Elk reports 0 violent crimes per 100,000 residents , which is 100% below the national average of 380/100K. Property crime is 173/100K.

Education

44.8% of adults in Banner Elk hold a bachelor's degree or higher (33% above the national average). 99.1% have completed high school. Local schools score 5.8/10 in standardized testing.

Climate & Weather

Banner Elk has an average annual temperature of 50°F (10°C). Winters average 31°F in January while summers reach 68°F in July. Annual precipitation totals 53.8 inches. Air quality is rated Good with a median AQI of 38.

Data Overview

People

Population1,338
Median Age20.7 yrs
Density708/mi²
Male / Female49% / 51%
Foreign Born6.7%
Veterans2.9%

Economy

B+
Median Income$67,917
Per Capita$40,200
Unemployment5.6%
Poverty11.5%
County GDP$890M
Avg Weekly Wage$855

Housing

B
Home Value$422,900
Rent$879
Ownership62.8%
Zillow$579,439
Housing Units831
Rent Burden35.3%

Crime

C+
Violent0/100K
Property173/100K

Health

Obesity38.2%
Diabetes10.5%
Smoking17.1%
Heart Disease6.4%
Premature Death9,111/100K

Climate

Avg Temp50°F
Rain53.8 in/yr
AQI38 (Good)
Elevation3,895 ft

Education

A+
Bachelor's+44.8%
High School+99.1%
Graduate+27.0%
School Score5.8/10

Community

2024 VoteR 76% / D 23%
Commute12 min
Broadband95.5%
Internet Speed182 Mbps
EV Stations3
Libraries1

Did You Know?

Banner Elk was founded in 1848.
The median home in Banner Elk was built in 2001.
19.4% work from home.
The nearest airport is Foothills Regional (27 miles).
The Gini coefficient (income inequality) is 0.492 (U.S. avg: 0.490).
Natural hazard risk is rated "Relatively Low" by FEMA.
14.1% of the population has a disability.
Average internet download speed is 182 Mbps.
The county recorded 1 fatal vehicle crashes.