What is the median rent in Banner Elk, NC?

Name: Median rent in Banner Elk, NC, 2020–2024
Creator: US Census Bureau
License: https://www.census.gov/data/developers/about/terms-of-service.html

The median gross rent in Banner Elk, NC is $849 (±$69) a month, according to the US Census Bureau’s 2020–2024 American Community Survey.

That is across 117 rented homes; gross rent is the contract rent plus the utilities and fuels a renter pays separately.

In Banner Elk, the median gross rent went from $813 in 2015–2019 to $849 in 2020–2024 (+4.4%).

Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.

Figures last updated on November 12, 2026.

Median gross rent: $849 (±$69)
Rented homes: 117 (±56)
$2,000 or more: 0.0%
Since 2015–2019: +4.4%

How much rent costs in Banner Elk

Share of rented homes in each gross-rent range, 2020–2024
Monthly gross rent	Banner Elk	Avery County	North Carolina	United States
Less than $500	3.4% (±6.6 points)	18.7%	6.6%	6.3%
$500 to $999	82.1% (±17.9 points)	46.7%	27.5%	20.2%
$1,000 to $1,499	12.0% (±16.4 points)	20.3%	32.6%	28.1%
$1,500 to $1,999	2.6% (±4.0 points)	9.0%	21.4%	21.1%
$2,000 to $2,499	0.0% (±29.6 points)	4.8%	7.8%	12.0%
$2,500 to $2,999	0.0% (±29.6 points)	0.5%	2.2%	5.5%
$3,000 or more	0.0% (±29.6 points)	0.0%	1.8%	6.8%

The most common range is $500 to $999, paid by 82.1% of renting households.

0.0% of rented homes in Banner Elk cost $2,000 or more a month.

Banner Elk against Avery County, its state and the nation

Estimate (90% margin of error)
	Banner Elk	Avery County	North Carolina	United States
Median gross rent	$849 (±$69)	$773 (±$106)	$1,228 (±$5)	$1,413
Rented homes paying rent	117 (±56)	959 (±236)	1,337,899 (±8,405)	42,849,984

In Banner Elk, median gross rent is not measurably different from Avery County ($773).

It is also lower than in North Carolina ($1,228).

It is lower than the national figure ($1,413).

In Avery County, Banner Elk ranks 2 of 4 places with a published estimate, from highest to lowest median gross rent.

Statewide, it ranks 379 of 586.

Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.

How rent in Banner Elk has changed since 2015–2019

2015–2019 and 2020–2024 American Community Survey 5-year estimates
	2015–2019	2020–2024	Amount of change	Verdict
Median gross rent	$813 (±$120)	$849 (±$69)	+4.4%	No measurable change after inflation
Households that rent	43.7% (±12.4 points)	31.1% (±11.7 points)	−12.6 percentage points	Not a measurable change
Rental vacancy rate	5.5% (±8.7 points)	11.8% (±18.5 points)	+6.3 percentage points	Not a measurable change

The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.

Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.

The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.

Median gross rent in places near Banner Elk

Nearest places with a published estimate, compared with Banner Elk
Place	Distance	Median gross rent	Compared with this place
Banner Elk	—	$849 (±$69)	—
Sugar Mountain	2.3 mi	$1,500 (±$482)	Higher
Seven Devils	3.1 mi	$1,583 (±$1,206)	Not measurably different
Beech Mountain	3.7 mi	$1,137 (±$31)	Higher
Foscoe	5.1 mi	$928 (±$170)	Not measurably different
Newland	5.9 mi	$792 (±$93)	Not measurably different
Elk Park	6.3 mi	$241 (±$233)	Lower
Cove Creek	10.0 mi	$1,601 (±$652)	Higher
Blowing Rock	11 mi	$1,278 (±$624)	Not measurably different

Nearby places with a measurably lower figure: Elk Park, NC ($241).

Nearby places with a measurably higher figure: Sugar Mountain, NC ($1,500), Beech Mountain, NC ($1,137), Cove Creek, NC ($1,601).

Distance is measured in a straight line between the Census Bureau’s internal points for each place.

Median gross rent across Avery County, place by place

Rank	Place	Median gross rent
1	Sugar Mountain	$1,500 (±$482)
2	Banner Elk	$849 (±$69)
3	Newland	$792 (±$93)
4	Elk Park	$241 (±$233)

Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.

Margins of error are at the 90% confidence level.

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Questions about Banner Elk

What is the average rent in Banner Elk, NC?

The Census Bureau publishes the median rather than the average: the median gross rent in Banner Elk is $849 (±$69) a month (2020–2024 American Community Survey), so half of renting households pay less and half pay more.

How much has rent gone up in Banner Elk?

In Banner Elk, the median gross rent went from $813 in 2015–2019 to $849 in 2020–2024 (+4.4%).

Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.

How many rentals in Banner Elk cost more than $2,000 a month?

0.0% of rented homes in Banner Elk have a gross rent of $2,000 or more a month, and 3.4% cost less than $500.

Is rent in Banner Elk higher than in Avery County?

In Banner Elk, median gross rent is not measurably different from Avery County ($773).

It is also lower than in North Carolina ($1,228).

It is lower than the national figure ($1,413).

Is this the rent for an apartment listed today?

No: these are rents households reported paying across 2020–2024, not asking rents for vacant homes, which usually run higher.

Sources

To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) for Banner Elk town, North Carolina (place:03500, in state:37).

Each estimate (E or PE) has a margin of error beside it (M or PM).

The 2015–2019 figures are B25064_001E, B25064_001M, DP04_0047PE, DP04_0047PM, DP04_0005E, DP04_0005M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0134E, DP04_0134M, DP04_0126E, DP04_0126M, DP04_0127PE, DP04_0127PM, DP04_0128PE, DP04_0128PM, DP04_0129PE, DP04_0129PM, DP04_0130PE, DP04_0130PM, DP04_0131PE, DP04_0131PM, DP04_0132PE, DP04_0132PM, DP04_0133PE, DP04_0133PM

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.