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. 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 $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 with a large college student population. Because of this, there is a real youthful, hip vibe to the place, and much of the life in the town is centered on the college. This has helped Banner Elk to buck the trend of other small towns that have suffered declining populations over the past 20 to 30 years. Spending by students, and faculty and staff jobs, are a big part of the local economy.

Another notable thing is that Banner Elk is an extremely popular destination for tourists and seasonal residents. So much of the population is seasonal such that the town’s population swells significantly during the vacation season, and drops again when the season ends. Because of this, much of the local economy is centered around tourism; some businesses may be operated only during the high season. During the low season, year-round residents will notice that the city is a substantially quieter place to live.

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 13.39 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.

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 2018 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.