2025 Compare Cities Economy:
Richmond, VA vs Banner Elk, NC

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Highlights
- Household income in Banner Elk, is 6% more than it is in Richmond and is 18% below the National Average.
- Richmond unemployment rate is 7.1%.
- Banner Elk unemployment rate is 4.1%.
 Richmond, VABanner Elk, NCUnited States
 Unemployment Rate  Unlock4.1%6.0%
 Recent Job Growth  Unlock-0.2%1.6%
 Future Job Growth37.1%  Unlock33.5%
 Sales Taxes5.3%  Unlock6.2%
 Income Taxes  Unlock5.3%4.6%
 Income per Cap.$38,132  Unlock$37,638
 Household Income  Unlock$58,333$69,021
 Family Median Income$72,604  Unlock$85,028
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 Est. Households By Income
 Richmond, VABanner Elk, NCUnited States
 Income Less Than 15K  Unlock6.7%9.4%
 Income between 15K and 20K5.4%  Unlock3.8%
 Income between 20K and 30K  Unlock14.3%8.1%
 Income between 30K and 40K9.6%  Unlock8.0%
 Income between 40K and 50K  Unlock7.6%7.6%
 Income between 50K and 60K8.1%  Unlock7.2%
 Income between 60K and 75K  Unlock7.0%9.6%
 Income between 75K and 100K11.3%  Unlock12.8%
 Income between 100K and 150K  Unlock11.0%16.3%
 Income between 150K and 200K5.2%  Unlock7.8%
 Income greater than 200K  Unlock12.2%9.5%
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 Population By Occupation
 Richmond, VABanner Elk, NCUnited States
 Management, business, finance16.7%  Unlock16.4%
 Engineering, computers, science  Unlock7.1%6.5%
 Community, social services2.7%  Unlock1.8%
 Legal  Unlock0.0%1.2%
 Education, library6.9%  Unlock6.2%
 Arts, design, media, sports, entertainment  Unlock2.2%2.0%
 Healthcare practitioners and technology6.1%  Unlock6.2%
 Healthcare support  Unlock0.0%3.3%
 Firefighters, law enforcement2.7%  Unlock2.1%
 Food preparation, serving  Unlock13.4%5.4%
 Building maintenance4.0%  Unlock3.6%
 Personal care  Unlock2.2%2.6%
 Sales, office, administrative support19.1%  Unlock20.9%
 Farming, fishing, forestry  Unlock0.0%0.6%
 Construction, extraction, maintenance/repair6.0%  Unlock8.1%
 Production, transportation, material moving  Unlock3.2%13.1%
Reviews for Richmond    109 Reviews

Over 3 years ago

Lived here for a year and it’s not perfect but it’s constantly improving now (areas redevloped, more businesses, job growth). Cost of living is great compared to  More

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Over 4 years ago

We love Richmond so much that when we talk about where we'd like to live if we could live anywhere in the US, we always come back to RVA. We live in the city proper  More

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Over 4 years ago

I'm an out-of-towner but am coming up on 1 year in Richmond. I would summarize it this way: the best thing and the worst thing about Richmond is its location. I'll  More

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