Banner Elk is a very small town located in the state of North Carolina. With a population of 1,113 people and two constituent neighborhoods, Banner Elk is the 397th largest community in North Carolina. Much of the housing stock in Banner Elk was built relatively recently. The construction of new real estate can often be taken as an indication that the local Banner Elk economy is robust, and that jobs or other amenities are attracting an influx of new residents. This seems to be the case in Banner Elk, where the median household income is $60,000.
Banner Elk real estate is some of the most expensive in North Carolina, although Banner Elk house values don't compare to the most expensive real estate in the U.S.
Unlike some towns where white-collar or blue-collar occupations dominate the local economy, Banner Elk is neither predominantly one nor the other. Instead, it has a mixed workforce of both white- and blue-collar jobs. Overall, Banner Elk is a town of service providers, sales and office workers and professionals. There are especially a lot of people living in Banner Elk who work in food service (16.10%), management occupations (12.20%) and office and administrative support (11.71%).
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.
A relatively large number of people in Banner Elk telecommute to their jobs. Overall, about 13.03% of the workforce works from home. While this may seem like a small number, as a fraction of the total workforce it ranks among the highest in the country. 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.
For a small town, there is also a high proportion of single, often educated, people living in Banner Elk. This is not typical for smaller communities in America, and adds a feeling of vibrancy to Banner Elk.
Residents of the town have the good fortune of having one of the shortest daily commutes compared to the rest of the country. On average, they spend only 14.77 minutes getting to work every day.
Banner Elk is a small town, and as such doesn't have a public transit system that people use to get to and from their jobs every day.
The education level of Banner Elk ranks among the highest in the nation. Of the 25-and-older adult population in Banner Elk, 43.19% have at least a bachelor's degree. The typical US community has just 21.84% of its adults holding a bachelor's degree or graduate degree.
The per capita income in Banner Elk in 2010 was $18,318, which is lower middle income relative to North Carolina and the nation. This equates to an annual income of $73,272 for a family of four. However, Banner Elk contains both very wealthy and poor people as well.
Banner Elk is a somewhat 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 German, Irish, English, Italian, Scottish and Polish.
The most common language spoken in Banner Elk is English. Some people also speak Spanish.
|BANNER ELK INFORMATION||DETAILS|
|NUMBER OF HOMES AND APARTMENTS||264|
|BANNER ELK HOME OWNERSHIP|
|% OWNER OCCUPIED||29.09%|
|% RENTER OCCUPIED||70.91%|
|TYPE OF BANNER ELK HOMES|
|SINGLE FAMILY DETACHED||58.12%|
|ROWHOUSES AND ATTACHED HOMES||10.11%|
|SMALL APARTMENT BUILDINGS||19.13%|
|COMPLEXES OR HIGH RISE APARTMENTS||6.50%|
|SIZE OF BANNER ELK HOMES|
|5 OR MORE BEDROOMS||4.51%|
|AGE OF BANNER ELK HOMES|
|NEWER HOMES (2000 OR LATER)||38.99%|
|ESTABLISHED, BUT NOT OLD HOMES (1970-1999)||33.21%|
|WELL-ESTABLISHED, OLD HOMES (1940-1969)||16.61%|
|HISTORIC (1939 OR BEFORE)||11.19%|
|BANNER ELK REAL ESTATE INFORMATION||DETAILS|
|MEDIAN HOME VALUE||$223,850|
|MEDIAN RENTAL PRICE||$1,042|
|HOME VALUE RANGE|
|$0 - $50,000||4.86%|
|$50,001 - $99,000||4.17%|
|$99,001 - $199,000||23.61%|
|$199,001 - $298,000||18.75%|
|$298,001 - $397,000||27.08%|
|$397,001 - $496,000||8.33%|
|$496,001 - $745,000||6.94%|
|$745,001 - $993,000||0.00%|
|PEOPLE OF BANNER ELK||DETAILS|
|UNDER 5 YEARS||3.06%|
|5 TO 17||4.82%|
|18 TO 24||52.60%|
|25 TO 34||7.61%|
|35 TO 54||11.69%|
|55 TO 64||9.28%|
|65 YEARS AND OVER||10.95%|
|EDUCATIONAL ATTAINMENT OF ADULTS|
|HIGH SCHOOL GRADUATES||97.89%|
|MEDIAN HOUSEHOLD INCOME||$60,000|
|PER CAPITA INCOME||$18,318|
|INDIVIDUALS BELOW POVERTY LEVEL||10.52%|
|INDUSTRIES PEOPLE WORK IN||Education (21.22%)
Public Service (3.90%)
Information Technology (3.17%)
Real estate (2.20%)
|BLACK OR AFRICAN AMERICAN||12.43%|
|AMERICAN INDIAN AND ALASKA NATIVE||0.00%|
|NATIVE HAWAIIAN AND OTHER PACIFIC ISLANDERS||0.00%|
|SOME OTHER RACE ALONE||0.37%|
|TWO OR MORE RACES||2.41%|
|HISPANIC OR LATINO (OF ANY RACE)||3.25%|
|ETHNICITIES PRESENT||German (13.45%)
|LANGUAGES SPOKEN||English (90.43%)
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