Median price for residential apartments in Banner Elk, NC as of Oct, 2022.
Take into account that the price depends on the location and condition of the apartment. The size and amenities might have a large influence on the asking price as well.
17 Banner Elk, NC 28604, USA apartments for sale
Banner Elk
According to statistics, the population in Banner Elk, NC amounts to 1,451, which shows growth 16% compared to the previous year. The median age of the city’s residents is 22. The average household income is $53,750, shifting decline -22% from the past year, and the average property value in Banner Elk, NC decline -8% to $295,500 throughout the year.
| Population | 1,451 |
| Median Age | 21.6 |
| Poverty Rate | 17% |
| Household Income | $53,750 |
| Number Of Employees | 637 |
| Median Property Value | $295,500 |
Household Income
The average household income in Banner Elk, NC declined from $69,107 to $53,750 in the past year. This data is an estimate based upon 360 households in Banner Elk, NC . The chart below presents how household income is distributed in Banner Elk, NC in comparison to the revenue allocation amid households nationally.
Property Value
According to data from last year, the average property value in Banner Elk, NC shifted from $320,400 to $295,500 throughout the year. The subsequent graph indicates the share of properties in the given price range in Banner Elk, NC in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Banner Elk, NC properties falls in the '$300,000 to $399,999' range, which is higher than the most significant median property across the country.
Rent vs. Own
Property Taxes
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Banner Elk, NC compared to median property taxes around the country. The prevalent amount of property taxes in Banner Elk, NC equals $1150, which is less than the national average.
Housing Trends
How much does an apartment cost in Banner Elk, NC 28604, USA
Average apartment sale in Banner Elk: $430,545 (-8.4%)
| Apartment Size | Oct | vs Last Month |
|---|---|---|
| Studio apartments | $113,466 | +36.7% |
| 1-bed apartments | $249,000 | +4.2% |
| 2-bed apartments | $621,400 | +15.9% |
| 3-bed apartments | $512,857 | -24.5% |
| 4+ bed apartments | $1,327,750 | -4.1% |
During Oct 2022, the average price for an apartment in/near Banner Elk, NC decreased by 8.4% to $430,545.
After collecting all data points, we now see that the average price for 1-bed apartment increased by 4.2% to $249,000. Asking price for 2-bed apartment also increased by 15.9% and a place of this size will now cost you $621,400. A 3-bed apartment goes for $512,857, it decreased by 24.5% lately. We discerned the rise of 4- and more bed apartment pricing. It decreased by 4.1% and made it down to $1,327,750.
| Listing Type | Oct | vs Last Month |
|---|---|---|
| Apartments for sale | $229,900 | N/A |
| Houses for sale | $798,667 | -26.7% |
| Lofts for sale | $474,500 | -18.5% |
| Condos for sale | $493,250 | +11.9% |
| Land for sale | $113,466 | +80.4% |
| Other for sale | $154,966 | N/A |
| Townhouses for sale | $342,975 | N/A |
While assessing the property pricing Banner Elk, NC, you can note that it remains flat with a price tag of $229,900. Price reports demonstrate that house price decreased by 26.7% this month making it up to $798,667. Condos are really in demand in this season. The median price for a condo increased by 11.9%, it’s now available for $493,250. The price dynamics of lofts changed, it decreased by 18.5%, the price tag now starts at $474,500. Value of the townhouses didn’t change, the price still starts at $342,975.