Banner Elk, NC demographics:
population, income, and more

Total population
1,473
10.1% year-over-year change
Median household income
$86,382/yr
27.2% year-over-year change
Housing units
867
10.0% year-over-year change

Banner Elk population

How many people live in Banner Elk

Banner Elk is home to 1,473 residents, according to the most recent Census data. Gender-wise, 50.2% of Banner Elk locals are male, and 49.8% are female.

Total population
1,473
10.1% year-over-year change
Gender ratio
Male
50.2%
740
Female
49.8%
733
Value Percent YoY change
Male 740 50.2% 12.3%
Female 733 49.8% 8.0%
A higher population often means more rental variety and livelier areas. The gender balance—how many men live here compared to women—can reveal a lot about the community and the lifestyles of its residents. Use this info to get a sense of the area's pace and personality.

Age demographics

The median age in Banner Elk is 21, with the population distributed as follows: about 4.6% are children under 15, then 55.5% are in the 15 to 24 age group. Adults between 25 and 44 make up 15.6% of the population, while another 11.1% fall into the 45 to 64 bracket. Finally, around 13.3% are 65 or older.

Median age
20.7
Age breakdown
Under 15
4.6%
15 to 24
55.5%
25 to 44
15.6%
45 to 64
11.1%
Over 65
13.3%
Value Percent YoY change
Under 15 67 4.6% -5.6%
15 to 24 817 55.5% 10.4%
25 to 44 230 15.6% 23.7%
45 to 64 163 11.1% 21.6%
Over 65 196 13.3% -5.3%
The age composition helps you get insight into who lives in the area. A younger population might mean a more active, fast-paced vibe, while an older one could suggest a quieter, slower lifestyle. If there's a balanced makeup, you’re likely to find a variety of services, housing types, and community spaces that cater to different life stages.

Racial makeup

In Banner Elk, 90.4% of the population are US-born citizens, while 2.8% have gained naturalized citizenship. At the same time, 6.7% of residents are non-citizens. As for race, 82.2% of locals are Caucasian, 7.4% are African American and 4% have Asian roots. There’s also a share of 6% that includes residents with two or more races.

Citizenship
U.S.-born citizens
90.4%
Non-U.S.-born citizens
2.8%
Non-citizens
6.7%
Value Percent YoY change
U.S.-born citizens 1,332 90.4% 7.2%
Non-U.S.-born citizens 42 2.8% 16.7%
Non-citizens 99 6.7% 67.8%
Racial breakdown
White
82.2%
Black or African American
7.4%
American Indian and Alaska Native
0%
Asian
4%
Native Hawaiian and other Pacific Islander
0%
Two or more races
6%
Other
0.4%
Value Percent
White 1,210 82.2%
Black or African American 109 7.4%
Asian 59 4%
Two or more races 89 6%
Other 6 0.4%

Households in Banner Elk

A peek inside Banner Elk households

Banner Elk has 405 households, with an average of 2 members in each. Of these, 56.3% are families, while the remaining 43.7% are made up of individuals living alone or with non-relatives, such as roommates.

Households stats

Total households
405
14.1% year-over-year change
Average people per household
2
Non-family households
177
Family households
228
Value Percent YoY change
Non-family households 177 43.7% 2.9%
Family households 228 56.3% 24.6%
The mix between family and non-family households gives a glimpse into daily life. A higher percentage of families might mean more parks and schools, while more non-family setups can mean flexible housing and diverse living styles. For renters, this can signal what kinds of homes are common and can help you figure out if the area matches your lifestyle.

Housing in Banner Elk

The housing landscape of Banner Elk

Banner Elk's housing consists of 867 units, with 50.8% being detached single-family homes ideal for those wanting space. Attached options, including duplexes and townhouses, make up 4.8% and offer a more compact, shared living style. Then there are the multifamily buildings in the area, and for those seeking flexibility, non-traditional options like mobile homes account for 1.4% of the housing landscape.

Housing units
867
10.0% year-over-year change
Housing types
Value Percent
1 unit, detached 440 50.8%
1 unit, attached 42 4.8%
2 units 147 17%
3 or 4 units 134 15.5%
5 to 9 units 69 8%
10 to 19 units 19 2.2%
20 to 49 units 4 0.5%
Mobile home 12 1.4%
Homes built since 2020
3
% year-over-year change

The age of buildings in Banner Elk

In Banner Elk, the median construction year is 1997. About 6.1% of homes were built before the 1940s, with another 7.7% going up by 1949. Most development happened in the second half of the 20th century. Then, 38.6% of homes were added from 2000 to 2009, 5.8% between 2010 and 2019, and 0.4% are part of the newest wave of development.

Construction year breakdown by decade
Value Percent YoY change
Built in 1939 or earlier 53 6.1% 3.9%
Built between 1940 and 1949 67 7.7% -1.5%
Built between 1950 and 1959 43 5% 0.0%
Built between 1960 and 1969 56 6.5% 9.8%
Built between 1970 and 1979 70 8.1% 1.4%
Built between 1980 and 1989 59 6.8% -6.3%
Built between 1990 and 1999 131 15.1% 87.1%
Built between 2000 and 2009 335 38.6% 6.3%
Built between 2010 and 2019 50 5.8% -13.8%
Built in 2020 or later 3 0.4% N/A
As a renter, knowing when homes were built helps you understand the potential condition and design of rental units. Newer builds may have more contemporary layouts, while older homes can offer character or larger lots, depending on the area.

Banner Elk occupancy rates

Out of the 405 occupied housing units in Banner Elk, 68.9% are owner-occupied, while 31.1% are lived in by tenants. Meanwhile, 53.3% of all homes on the local market sit vacant.

Occupied housing units
405
14.1% year-over-year change
Occupancy breakdown
Renter occupied
126
Owner occupied
279
Value Percent YoY
change
Renter occupied 126 31.1% -4.5%
Owner occupied 279 68.9% 25.1%
Unoccupied housing units
53.3%
Unoccupied housing units refer to homes that are currently without residents—whether they're waiting for renters or owners, used seasonally, or simply unclaimed. A higher share of empty homes may mean more housing availability, while a low number can reflect a tighter market with more competition. This, along with the renter-vs.-owner mix, helps paint a clearer picture of what types of housing and services are likely to be available in the area.

Banner Elk housing costs

Housing costs in Banner Elk come to a median of $1,125 per month, while tenants specifically pay a median gross rent of $849.

Median housing costs per month
$1,125/month
This figure sums up typical monthly housing costs for all households in the area. If you own, it includes mortgage payments in addition to property taxes, insurance and HOA fees. If you rent, it accounts for rent plus extras like utilities. It’s useful for seeing how local living expenses stack up compared to other places.
Median gross rent in Banner Elk
$849/month
Gross rent gives a more complete look at what renters actually pay, including not just base rent, but also utilities and fees. It’s a key number for evaluating rental affordability in your area of interest and understanding how it compares to nearby locations.

Education in Banner Elk

Banner Elk education at a glance

About 23.5% of the population in Banner Elk went to high school, while 49% pursued college studies. Another 4.2% earned an associate degree and 14.5% hold a bachelor’s. Meanwhile, 8.8% went even further, earning a master’s or doctorate.

Education level
Value Percent YoY change
High school diploma 322 23.5% 5.2%
College diploma 673 49% 2.8%
Associate degree 57 4.2% 29.6%
Bachelor's degree 199 14.5% 63.1%
Graduate degree 121 8.8% -2.4%
A community’s education mix can offer insights into the local economy and housing market. Higher levels of education often align with more job opportunities and stable incomes, which can increase demand for homes and influence both rent prices and rental availability.

Income in Banner Elk

How much people earn in Banner Elk

The average annual household income in Banner Elk was $132,384 in 2024, the most recent annual data available, according to the U.S. Census Bureau. This marked a -7.6% change from the previous year. At the same time, the median income stood at $86,382, reflecting a +27.2% shift over the same period.

Average household income in Banner Elk
$132,384/year
-7.6% year-over-year change
Median household income in Banner Elk
$86,382/year
27.2% year-over-year change

Banner Elk income by age

Those with someone between 45 and 64 in charge, often well established professionally, earn $192,924 overall. Overall, 86.9% of the locals in this community live above the poverty line.

Income breakdown by age
Value YoY change
45 - 64 $192,924 N/A
Over 65 $83,750 -0.2%
Above poverty level
639
Below poverty level
96
Value Percent YoY
change
Above poverty level 639 86.9% 14.9%
Below poverty level 96 13.1% -9.4%

Employment in Banner Elk

Workforce and job types in Banner Elk

The job market in Banner Elk is powered by 489 working residents, spread across a range of industries and roles. 94.1% of the working population are employed in professional or administrative positions, while 5.9% are in hands-on or service-based jobs. Also, 9% run their own businesses, 72.6% are employed by private companies, and 6.3% work in the public sector.

Workforce demographics

Working population
489
12.4% year-over-year change
White collar
460
Blue collar
29
Value Percent YoY change
White collar 460 94.1% 11.9%
Blue collar 29 5.9% 20.8%
Employer type
Self employees
9%
Private companies
72.6%
Governmental workers
6.3%
Not for profit companies
12.1%
Value Percent YoY change
Self employees 44 9% 100.0%
Private companies 355 72.6% 16.4%
Governmental workers 31 6.3% -26.2%
Not for profit companies 59 12.1% -10.6%
Unemployment rate
2.4%
-53.9% year-over-year change

Available workforce

The unemployment rate in Banner Elk stands at 2.4%, representing the share of the workforce currently without a job and actively looking for one.

For renters, the unemployment rate helps paint a picture of job security and financial stability in the area. Rates around 4% to 5% are considered typical. A lower-than-average rate might suggest strong job prospects and a thriving local economy, while a higher rate could hint at fewer opportunities—both useful to consider when planning a move.

Transportation in Banner Elk

How people get around in Banner Elk

Commuting methods vary: 60.2% of residents travel by personal vehicle and 8.3% prefer to walk, while the remaining share relies on public transit or on two wheelers to get from A to B.

Means of transportation
Value Percent YoY change
Car 291 60.2% -3.0%
Walk 40 8.3% 0.0%
Understanding how locals get to work can help you plan your own routine. High car usage might mean you’ll need a vehicle, while strong public transit or walkability could save you the hassle. Commute times also play a big role in quality of life—shorter trips can give you more time for the things you enjoy.

What is the median and average household income in Banner Elk by zipcode?

Zipcode Population Number of households Median income Average income
28604 7,869 3,236 $76,319 $109,394

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FAQs about Banner Elk demographics 

What is the total population of Banner Elk?

Banner Elk has a total population of 1,473 residents, according to the latest release from the U.S. Census Bureau: the 2019-2023 American Community Survey (ACS) 5-year estimates. This figure changed by +10.1% compared to a year ago.

What is the gender ratio in Banner Elk?

The gender ratio in Banner Elk is as follows:
  • 50.2% males (740 residents)
  • 49.8% females (733 residents)

What is the median age in Banner Elk?

The median age in Banner Elk is 20.7.

What is the age distribution of the population in Banner Elk?

The age distribution in Banner Elk is as follows:
  • Under 15: 4.6% (67 residents)
  • Ages 15-24: 55.5% (817 residents)
  • Ages 25-44: 15.6% (230 residents)
  • Ages 45-64: 11.1% (163 residents)
  • Over 65: 13.3% (196 residents)

What is the racial and ethnic makeup of Banner Elk?

The racial and ethnic makeup of Banner Elk is as follows:
  • White: 82.2% (1,210 residents)
  • Black or African American: 7.4% (109 residents)
  • American Indian and Alaska Native: 0% (0 residents)
  • Asian: 4% (59 residents)
  • Native Hawaiian and Other Pacific Islander: 0% (0 residents)
  • Two or More Races: 6% (89 residents)
  • Other: 0.4% (6 residents)

What percentage of the population in Banner Elk are U.S.-born citizens?

U.S.-born citizens represent 90.4% of the population in Banner Elk.

How many housing units are there in Banner Elk?

There are 867 housing units in Banner Elk, reflecting a +10.0% change compared to the previous year, according to the latest data from the U.S. Census Bureau.

How many households are in Banner Elk and what is the average household size?

Banner Elk has a total of 405 households, with an average of 2 people in each.

What is the median household income in Banner Elk?

Banner Elk has a median household income of $86,382, representing a +27.2% shift from the previous year, according to the U.S. Census Bureau.

What is the employment rate and job market overview for Banner Elk?

The employment rate is 97.6% in Banner Elk, with a workforce of 489 residents. Here’s a detailed breakdown of the local job market:

Job types:
  • White-collar workers: 94.1% (460 residents)
  • Blue-collar workers: 5.9% (29 residents)

Places of employment:
  • Self-employed: 9% (44 residents)
  • Private companies: 72.6% (355 residents)
  • Governmental workers: 6.3% (31 residents)
  • Not-for-profit companies: 12.1% (59 residents)

Data source & methodology

The demographic data on this page was sourced from the latest U.S. Census Bureau release—the 2019–2023 American Community Survey (ACS) 5-year estimates.

The information, issued annually, is compiled and published by the Point2Homes Research Team as soon as new data becomes available.

No representation, guarantee, or warranty is made concerning the accuracy or completeness of modified or aggregated information for particular areas.

Page last updated: September 2025