Balfour, NC
Population 1,132 · North Carolina
About Balfour, NC
Balfour is a small town located in North Carolina with a population of 1,132 residents according to the latest US Census Bureau American Community Survey data. The median household income is $69,545 per year, which is 7% below the national median of $75,149. The median age of 42.5 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Balfour features a median home value of $294,200, which is 20% above the national median of $244,900. This positions Balfour in a moderately priced market relative to the rest of the country. Median monthly rent is $743, 36% below the national average of $1,163/month. Of the 582 total housing units, 71% are owner-occupied (350 units) and 29% are renter-occupied (140 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Balfour shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 7.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Balfour have an average one-way commute time of 16.1 minutes, one of the shorter commutes in the region.
Education & Demographics
40.3% of Balfour residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 2.7% White, 0.4% Hispanic or Latino, 0.0% Black or African American, and 6.5% Asian residents, with 14.0% of the population being foreign-born.
Cost of Living in Balfour, NC
Compared to national averages, Balfour has a median household income of $69,545 (7% below the national median of $75,149). Home values average $294,200, which is 20% above the national median. Monthly rent at $743 is 36% below the US average of $1,163. Within North Carolina, Balfour's income is 8% above the state average of $64,468, and home values are 29% above the state median of $228,922.
Why Live in Balfour, NC?
Balfour offers rent that’s lower than the national average at $743/month, and a strong job market with an unemployment rate of just 0.0%, and a well-educated community where 40.3% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 7.8%, better than the national average, and short commute times averaging just 16.1 minutes.
Potential considerations include median household income ($69,545) that falls below the national average. However, Balfour’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Balfour has a population of 1,132 with a median age of 42.5 years. Compare Balfour with other cities to see how it stacks up, or explore all cities in North Carolina.
Similar Cities Near Balfour
Cities in North Carolina with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Franklinville | 1,129 | $53,942 | $122,400 | Compare |
| McAdenville | 1,139 | $117,411 | $350,900 | Compare |
| Flat Rock | 1,141 | $52,188 | $111,700 | Compare |
| Springdale | 1,120 | $61,250 | $179,600 | Compare |
| Hayesville | 1,110 | $52,875 | $217,400 | Compare |
| Magnolia | 1,109 | $40,156 | $76,900 | Compare |
| Lucama | 1,108 | $34,583 | $98,200 | Compare |
| Kenansville | 1,157 | $62,917 | $144,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in North Carolina
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Balfour With Other Cities
Frequently Asked Questions about Balfour
What is the population of Balfour, NC?
The population of Balfour, NC is 1,132 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in North Carolina.
What is the median household income in Balfour?
The median household income in Balfour, NC is $69,545 per year, which is 7% below the national median of $75,149.
What is the median home value in Balfour?
The median home value in Balfour, NC is $294,200, which is 20% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Balfour?
The median monthly rent in Balfour, NC is $743, which is 36% below the national average of $1,163/month.
What is the unemployment rate in Balfour?
The unemployment rate in Balfour, NC is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Balfour, NC a good place to live?
Balfour offers a moderate cost of living, a competitive housing market, and a strong job market. With a population of 1,132 and a median age of 42.5, the city appeals to a broad range of residents.
How educated is Balfour, NC?
40.3% of residents in Balfour aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Balfour?
Key cost-of-living indicators for Balfour, NC: median home value is $294,200 (20% above national), median rent is $743/month, and median household income is $69,545. The home-value-to-income ratio is 4.2x, a moderate figure by national standards.
What is the poverty rate in Balfour?
The poverty rate in Balfour, NC is 7.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Balfour, NC?
Balfour's population is 2.7% White, 0.4% Hispanic or Latino, 0.0% Black or African American, 6.5% Asian, and 1.9% two or more races. 14.0% of residents are foreign-born.