Banner Elk, NC Profile: Facts & Data

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Banner Elk, North Carolina - Basic Facts

The Town of Banner Elk had a population of 950 as of July 1, 2019. Banner Elk ranks in the lower quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in North Carolina. See peer rankings below.

The primary coordinate point for Banner Elk is located at latitude 36.1632 and longitude -81.8715 in Avery County. The formal boundaries for the Town of Banner Elk encompass a land area of 1.91 sq. miles and a water area of 0 sq. miles. Avery County is in the Eastern time zone (GMT -5). The elevation is 3,701 feet.

The Town of Banner Elk (GNIS ID: 2405208) has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Town of Banner Elk is located within Township of Banner Elk, a minor civil division (MCD) of Avery County.

Alternate Unofficial Names for Banner Elk: Banners Elk, Shawneehaw.

Jump to... (On This Page!)
  1. Banner Elk 2019 Demographic Data
  2. Growth Rates for Banner Elk (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. North Carolina Research Tools (Easy Tools & Current Data)
  3. North Carolina Data Comparison Tool - 2019 Demographics

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Boundary Maps, Demographic Data, School Zones Review maps and data for the neighborhood, city, county, ZIP Code, and school zone. July 1, 2019, data includes home values, household income, percentage of homes owned, rented or vacant, etc.


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Banner Elk, NC Data & Demographics (As of July 1, 2019)

HOUSING AFFORDABILITY INDEX

Banner Elk, NC Housing Affordability Index is 127
State of North Carolina Housing Affordability Index is 140
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.

WEALTH INDEX

Banner Elk, NC Wealth Index is 74
State of North Carolina Wealth Index is 84
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

These new demographic attributes are availiable for cities, Counties, ZIP Codes and even neighborhoods (Census Blocks) when you search by a specific North Carolina address.

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  2. References & Data Sources page for more information about methodology and sources of data.

POPULATION

Total Population 950
Population in Households 758
Population in Familes 562
Population in Group Qrtrs 192
Population Density 497
Diversity Index1 28
 

INCOME

Median Household Income $53,502
Average Household Income $73,204
Per Capita Income $25,161
Wealth Index3 74

HOUSING

Total Housing Units 570 (100%)
Owner Occupied HU 193 (33.9%)
Renter Occupied HU 70 (12.3%)
Vacant Housing Units 307 (53.9%)
Median Home Value $235,714
Housing Affordability Index2 127
 

HOUSEHOLDS

Total Households 263
Average Household Size 2.88
Family Households 155
Average Family Size 4
NOTES
  1. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different race or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  2. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  3. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

2010-2019 2019-2024
Population -0.85% -0.83%
Households -1.09% -0.93%
Families 0.14% -1.05%
Median Household Income   1.65%
Per Capita Income   1.93%

Banner Elk, NC - Peer Comparisons by Rank and Percentile

The table below compares Banner Elk to the other 739 incorporated cities, towns and CDPs in North Carolina by rank and percentile using July 1, 2019 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 446 40th
Population Density # 451 39th
Diversity Index # 566 24th
Median Household Income # 228 69th
Per Capita Income # 338 54th

Additional comparisons and rankings can be made with a VERY EASY TO USE North Carolina Census Data Comparison Tool.

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