What percentage of people rent in Banner Elk, NC?

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

31.1% (±11.7 points) of the occupied homes in Banner Elk, NC are rented (2020–2024 American Community Survey).

That is 126 renting households against 279 that own their home.

In Banner Elk, the share of households that rent went from 43.7% in 2015–2019 to 31.1% in 2020–2024 (−12.6 percentage points), not a measurable change.

Figures last updated on November 12, 2026.

Households that rent: 31.1% (±11.7 points)
Renting households: 126 (±59)
Median renter income: $29,545 (±$5,120)

Who rents and who owns in Banner Elk

Tenure, estimate (90% margin of error)
	Banner Elk	Avery County	North Carolina	United States
Renter-occupied share	31.1% (±11.7 points)	17.0% (±3.0 points)	33.4% (±0.2 points)	34.8%
Renting households	126 (±59)	1,154 (±244)	1,428,852 (±8,279)	45,017,354
Owning households	279 (±100)	5,637 (±280)	2,853,493 (±14,473)	84,210,142
Average renter household size	1.8 (±0.4)	2.2 (±0.3)	2.3 (±0.0)	2.3
Average owner household size	1.7 (±0.3)	2.3 (±0.1)	2.5 (±0.0)	2.6
Median renter household income	$29,545 (±$5,120)	$39,118 (±$8,932)	$48,010 (±$418)	$52,966
Median owner household income	$133,125 (±$42,706)	$75,681 (±$9,856)	$88,911 (±$521)	$100,009

In Banner Elk, the renter share is higher than in Avery County (17.0%).

It is not measurably different from North Carolina (33.4%).

It is not measurably different from the national figure (34.8%).

In Avery County, Banner Elk ranks 3 of 6 places with a published estimate, from highest to lowest renter share.

Statewide, it ranks 323 of 663.

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

How renting 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
Households that rent	43.7% (±12.4 points)	31.1% (±11.7 points)	−12.6 percentage points	Not a measurable change
Median gross rent	$813 (±$120)	$849 (±$69)	+4.4%	No measurable change after inflation
Median household income	$55,781 (±$14,287)	$86,382 (±$37,063)	+54.9%	No measurable change after inflation

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.

Households that rent in places near Banner Elk

Nearest places with a published estimate, compared with Banner Elk
Place	Distance	Households that rent	Compared with this place
Banner Elk	—	31.1% (±11.7 points)	—
Sugar Mountain	2.3 mi	7.0% (±3.7 points)	Lower
Seven Devils	3.1 mi	7.2% (±7.0 points)	Lower
Beech Mountain	3.7 mi	10.7% (±4.6 points)	Lower
Grandfather Village	4.6 mi	0.0% (±100.0 points)	Not measurably different
Foscoe	5.1 mi	26.6% (±13.2 points)	Not measurably different
Newland	5.9 mi	41.9% (±15.0 points)	Not measurably different
Elk Park	6.3 mi	47.5% (±17.0 points)	Not measurably different
Cove Creek	10.0 mi	18.1% (±11.3 points)	Not measurably different

Nearby places with a measurably lower figure: Sugar Mountain, NC (7.0%), Seven Devils, NC (7.2%), Beech Mountain, NC (10.7%).

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

Households that rent across Avery County, place by place

Rank	Place	Households that rent
1	Elk Park	47.5% (±17.0 points)
2	Newland	41.9% (±15.0 points)
3	Banner Elk	31.1% (±11.7 points)
4	Sugar Mountain	7.0% (±3.7 points)
5 (tie)	Crossnore	0.0% (±72.3 points)
5 (tie)	Grandfather Village	0.0% (±100.0 points)

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

How many renters are there in Banner Elk?

Banner Elk has an estimated 126 (±59) renting households, 31.1% of its occupied homes (2020–2024 American Community Survey).

Is renting growing in Banner Elk?

In Banner Elk, the share of households that rent went from 43.7% in 2015–2019 to 31.1% in 2020–2024 (−12.6 percentage points), not a measurable change.

How big are renting households in Banner Elk?

A renting household in Banner Elk has 1.8 people on average, against 1.7 in an owned home.

How much do renters earn in Banner Elk?

The median renting household in Banner Elk, NC has an income of $29,545 (±$5,120) a year, against $133,125 for households that own their home.

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) and detailed tables (acs/acs5) 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 DP04_0047PE, DP04_0047PM, B25064_001E, B25064_001M, B19013_001E, B19013_001M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0047PE, DP04_0047PM, DP04_0047E, DP04_0047M, DP04_0046E, DP04_0046M, DP04_0049E, DP04_0049M, DP04_0048E, DP04_0048M, B25119_003E, B25119_003M, B25119_002E, B25119_002M

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.