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Banner Elk, NC
Full City Profile · North Carolina · Avery County County
3.2
/5.0
B
Good
1,338
Population
708/sq mi density
$67,917
Median Income
$40,200 per capita
$422,900
Home Value
$566,987 Zillow
$879
Median Rent
35.3% income on rent
50°F
Avg Temperature
299 sunny days/yr
454
Violent Crime/100K
999 property/100K
B
Overall
3.2 / 5.0
Good overall score based on economy, affordability, safety and education
A
Economy
4.0 / 5.0
$67,917 median income, 2.1% unemployment
B
Affordability
3.2 / 5.0
$422,900 home value, $879/mo rent
F
Safety
1.0 / 5.0
454 violent crimes/100K (20% above avg)
A+
Education
4.6 / 5.0
44.8% bachelor's degree or higher
Income Overview
Median Household Income
$67,917
10% below
US avg: $75,149
Per Capita Income
$40,200
3% above
US avg: $39,052
Unemployment Rate
2.1%
42% below
US avg: 3.6%
Poverty Rate
11.5%
7% below
US avg: 12.4%
Income Comparison: Banner Elk vs. U.S. Average
Each bar shows Banner Elk’s value as a percentage of the national average (100% line = U.S. avg)
Median Household
US: $75,149
$67,917
90%
Per Capita
US: $39,052
$40,200
103%
IRS Avg AGI
US: $72,000
$68,291
95%
Avg Weekly Wage
US: $1,432
$855
60%
Thin line = U.S. average (100%)
Employment & Commute
Avg Weekly Wage
$855
40% below US avg ($1,432)
Mean Commute Time
12 min
57% below US avg (28 min)
Work From Home
19.4%
28% above US avg (15.2%)
Drive Alone
64.5%
12% below US avg (73.2%)
Public Transit
0.0%
100% below US avg (5.0%)
County GDP
$890M
County-level GDP (BEA 2024)
How Residents Get to Work
Drive Alone
64.5%
Public Transit
0%
Work From Home
19.4%
Other
16.1%
Average commute time
12 minutes
US avg: 28 min
Business Landscape
Total Establishments
698
Restaurants
63
Healthcare
41
Retail
79
Manufacturing
14
Tax & Financial
IRS Avg Adjusted Gross Income
$68,291
5% below US avg ($72,000)
Avg Property Tax
$4,227
21% above US avg ($3,500)
Cost of Living Index
94.3
Below national average (100 = US avg)
Complete Economy Data
Income & Wages
| Median Household Income | $67,917 |
| Per Capita Income | $40,200 |
| IRS Avg Adjusted Gross Income | $68,291 |
| Avg Weekly Wage | $855 |
| County GDP | $890M |
Hardship Indicators
| Unemployment Rate | 2.1% |
| Poverty Rate | 11.5% |
| Gini Coefficient | 0.492 |
| Cost of Living Index | 94.3 |
Commute
| Mean Commute | 12 minutes |
| Drive Alone | 64.5% |
| Public Transit | 0.0% |
| Work From Home | 19.4% |
Businesses
| Total Establishments | 698 |
| Restaurants | 63 |
| Healthcare | 41 |
| Retail | 79 |
| Manufacturing | 14 |
Tax
| IRS Avg AGI | $68,291 |
| Avg Property Tax | $4,227 |