Banner Elk, NC is a small mountain town located in the Blue Ridge Mountains of North Carolina. It offers breathtaking views of the surrounding Appalachian range and is home to a lively downtown district with plenty of local businesses. In terms of rent costs, Banner Elk is much more affordable than the US average for two bedroom apartments, costing $940 compared to the national rate of $1,430. Similarly, grocery costs are more affordable in Banner Elk with an index rating of 101 versus 100 in the United States. \nBanner Elk has something to offer for everyone; it’s a great place to both live and visit! Companies that can be found in the area include Banner Elk Cafe and Lodge, Three Mile Market & Deli, Grandfather Golf & Country Club and Sloop's Jewelry. Residents can also find a variety of other services such as banks, real estate offices and medical centers.
Banner Elk has an unemployment rate of 4.1%. The US average is 6.0%.
Banner Elk has seen the job market decrease by -6.6% over the last year. Future job growth over the next ten years is predicted to be 31.8%, which is lower than the US average of 33.5%.
Tax Rates for Banner Elk
- The Sales Tax Rate for Banner Elk is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Banner Elk is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Banner Elk
- The average income of a Banner Elk resident is $33,233 a year. The US average is $37,638 a year.
- The Median household income of a Banner Elk resident is $58,333 a year. The US average is $69,021 a year.