Banner Elk is a very small town located in the state of North Carolina. With a population of 1,088 people and two associated neighborhoods, Banner Elk is the 398th largest community in North Carolina. Banner Elk has seen a significant amount of newer housing growth in recent years. Quite often, new home construction is the result of new residents moving in who are middle class or wealthier, attracted by jobs, a healthy local economy, or other amenities as they leave nearby or far away areas for greener pastures. This seems to be the case in Banner Elk, where the median household income is $66,607.00.

Also of interest is that Banner Elk has more people living here who work in computers and math than 95% of the places in the US.

Of important note, Banner Elk is also a town of artists. Banner Elk has more artists, designers and people working in media than 90% of the communities in America. This concentration of artists helps shape Banner Elk’s character.

Telecommuters are a relatively large percentage of the workforce: 16.41% of people work from home. While this number may seem small overall, as a fraction of the total workforce it is high relative to the nation. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.

Banner Elk is a small town where college students really create the town feel and character. So many small towns have lost population over the last 20-30 years that having the local college presence in the Banner Elk area, with all of the energy of the students filling area dorms and apartments each fall, really helps Banner Elk maintain a good economy.

Another notable thing is that Banner Elk is a major vacation destination. Much of the town’s population is seasonal: many people own second homes and only live there part-time, during the vacation season. The effect on the local economy is that many of the businesses are dependent on tourist dollars, and may operate only during the high season. As the vacation season ends, Banner Elk’s population drops significantly, such that year-round residents will notice that the city is a much quieter place to live.

One of the benefits of Banner Elk is that there is very little traffic. The average commute to work is 13.39 minutes, which is substantially less than the national average. Not only does this mean that the drive to work is less aggravating, but noise and pollution levels are lower as a result.

As is often the case in a small town, Banner Elk doesn't have a public transportation system that people use for their commute.

Do you have a 4-year college degree or graduate degree? If so, you may feel right at home in Banner Elk. 51.57% of adults here have a 4-year degree or graduate degree, whereas the national average for all cities and towns is just 21.84%.

The per capita income in Banner Elk in 2022 was $40,738, which is wealthy relative to North Carolina, and upper middle income relative to the rest of the US. This equates to an annual income of $162,952 for a family of four. However, Banner Elk contains both very wealthy and poor people as well.

Banner Elk is a very ethnically-diverse town. The people who call Banner Elk home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Banner Elk residents report their race to be White, followed by Black or African-American. Important ancestries of people in Banner Elk include English, German, Irish, Scottish, and Italian.

The most common language spoken in Banner Elk is English. Other important languages spoken here include Spanish and Hungarian.