Banner Elk, NC
Population 1,338 · North Carolina
About Banner Elk, NC
Banner Elk is a small community in North Carolina with a population of 1,338 residents. The median household income is $67,917 per year, which is near the national average. The median age in Banner Elk is 20.7 years.
Housing in Banner Elk has a median home value of $422,900 and median monthly rent of $879. Of the 788 total housing units, the majority are owner-occupied, with 223 owner-occupied and 132 renter-occupied units.
The unemployment rate in Banner Elk is 5.6% and the poverty rate is 16.0%. 44.8% of residents hold a bachelor's degree or higher. The average commute time is 11.8 minutes.
Cost of Living in Banner Elk, NC
Compared to national averages, Banner Elk has a median household income of $67,917 (10% below the national median of $75,149). Home values average $422,900, which is 73% above the national median. Monthly rent at $879 is 24% below the US average of $1,163. Within North Carolina, Banner Elk's income is 5% above the state average of $64,468, and home values are 85% above the state median of $228,922.
Why Live in Banner Elk, NC?
Banner Elk offers rent that’s lower than the national average at $879/month, and a well-educated community where 44.8% of residents hold a bachelor’s degree or higher, and short commute times averaging just 11.8 minutes.
Potential considerations include median household income ($67,917) that falls below the national average, and a competitive housing market where the typical home costs $422,900. However, Banner Elk’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Banner Elk has a population of 1,338 with a median age of 20.7 years. Compare Banner Elk with other cities to see how it stacks up, or explore all cities in North Carolina.
Similar Cities Near Banner Elk
Cities in North Carolina with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Spring Hope | 1,334 | $35,577 | $142,400 | Compare |
| Cordova | 1,343 | $65,801 | $155,200 | Compare |
| Chadbourn | 1,347 | $19,853 | $100,300 | Compare |
| Rutherford College | 1,327 | $63,000 | $196,600 | Compare |
| Pinetops | 1,323 | $54,196 | $132,600 | Compare |
| Hays | 1,355 | $54,063 | $158,900 | Compare |
| Murphy | 1,356 | $36,989 | $221,100 | Compare |
| Robersonville | 1,319 | $43,359 | $85,900 | 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.
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Frequently Asked Questions about Banner Elk
What is the population of Banner Elk, NC?
The population of Banner Elk, NC is 1,338 according to the latest Census data.
What is the median household income in Banner Elk?
The median household income in Banner Elk, NC is $67,917 per year.
What is the median home value in Banner Elk?
The median home value in Banner Elk, NC is $422,900.
What is the average rent in Banner Elk?
The median monthly rent in Banner Elk, NC is $879.
What is the unemployment rate in Banner Elk?
The unemployment rate in Banner Elk, NC is 5.6%.