Banner Elk, NC is a small town located in the Appalachian Mountains of North Carolina with a population of just around 1,000 people. It's a popular tourist destination due to its close proximity to ski resorts and other outdoor attractions. The 2 Bedroom Rent in this area is $960, which is much lower than the US average of $1,430, making it an affordable living option for those looking to move to this area. In terms of grocery costs, Banner Elk has a Grocery Cost Index of 101 compared to 100 nationwide. This means that it costs about 1% more than the national average to buy groceries here.
Banner Elk has many local businesses that provide goods and services to both locals and visitors alike. Some examples include Grandfather Mountain Nursery & Garden Center which offers a variety of plant species for gardening enthusiasts, Cataloochee Ski Area which provides skiing and snowboarding opportunities for winter sport fans, and High Country Furniture & Design which sells custom furniture pieces made right here in Banner Elk. Each of these businesses can be beneficial to residents by providing necessary goods and services at reasonable prices as well as helping to boost the local economy.
Banner Elk (zip 28604) has an unemployment rate of 4.1%. The US average is 6.0%.
Banner Elk (zip 28604) 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 (zip 28604)
- The Sales Tax Rate for Banner Elk (zip 28604) is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Banner Elk (zip 28604) 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 (zip 28604)
- The average income of a Banner Elk (zip 28604) resident is $34,915 a year. The US average is $37,638 a year.
- The Median household income of a Banner Elk (zip 28604) resident is $59,250 a year. The US average is $69,021 a year.