Rental Market Trends in Banner Elk, NC

Q: What is the average rent in Banner Elk, NC?

As of September 2025, the average rent in Banner Elk, NC was -.

What is the average rent in Banner Elk, NC?

Average Rent

Average Apartment Size

As of September 2025, the average rent in Banner Elk, NC is - per month. When you rent an apartment in Banner Elk, you can expect to pay about per month for a studio, for a one-bedroom apartment, and around $1,154 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay or more.

Floor Plan Type

Average Rent

Average Sq Ft

Two Bedroom

$1,154/month

766 Sq Ft

Floor Plan Type

Average Rent

Average Sq Ft

Floor Plan Type

Average Rent

Average Sq Ft

Floor Plan Type

Average Rent

Average Sq Ft

How much has average rent changed in Banner Elk, NC?

What salary do I need to live comfortably in Banner Elk, NC?

Because the average rent in Banner Elk is -, you’ll want to make about per month or per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.

How does Banner Elk, NC compare to other nearby cities and neighborhoods?

Use the tool below to compare Banner Elk, NC to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.

Apartment Averages

Apartment communities in Banner Elk we think you'll love

High Country Square Apartments

100 High Country Sq,
Banner Elk, NC 28604

$1,800 - $1,825

2 Beds

58 Creekside Dr

58 Creekside Dr,
Banner Elk, NC 28604

$1,600

1 Bed

173 Old Turnpike Rd NW

173 Old Turnpike Rd NW,
Banner Elk, NC 28604

$1,250

2 Beds

Highpointe

615 Fallview Ln,
Boone, NC 28607

$899 - $1,095

3-5 Beds

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United States North Carolina Banner Elk Rental Trends

Methodology

† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.

Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.

Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in September 2025.

* Percentages may not total 100 due to rounding.