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
Housing Overview
Median Home Value
$422,900
50% above
US avg: $281,900
Median Rent
$879/mo
24% below
US avg: $1,163/mo
Homeownership Rate
62.8%
4% below US avg (65.4%)
Total Housing Units
831
Median year built: 2001
Home Value by Source
Census Median
$422,900
Zillow (ZHVI)
$579,439
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
62.8%
Owner-Occupied
37.2%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$932/mo
1 Bedroom
$981/mo
2 Bedroom
$1,161/mo
3 Bedroom
$1,499/mo
4 Bedroom
$1,780/mo
Census median rent:
$879/mo
Affordability & Housing Stock
Rent Burden
35.3%
of renters spending 30%+ of income on housing
14% above US avg (31.0%)
Median Year Built
2001
Average age of housing stock: 25 years
Homeownership Rate
62.8%
Complete Housing Data
Home Values
| Census Median Value | $422,900 |
| Zillow Home Value (ZHVI) | $579,439 |
Rent
| Census Median Rent | $879 |
| FMR Studio | $932 |
| FMR 1-Bedroom | $981 |
| FMR 2-Bedroom | $1,161 |
| FMR 3-Bedroom | $1,499 |
| FMR 4-Bedroom | $1,780 |
Market
Ownership & Stock
| Owner-Occupied | 62.8% |
| Renter-Occupied | 37.2% |
| Homeownership Rate | 62.8% |
| Total Housing Units | 831 |
| Median Year Built | 2001 |
| Rent Burden | 35.3% |