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Apartments in Banner Elk

1 - 4 of 4 Results
1
$2,200
Spacious Home Overlooking Downtown Banner Elk
350 Klonteska Dr Banner Elk, NC
2 BR | Available Now
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Dog Friendly
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Storage
Dishwasher
17
$1,350
91 Buckeye Rd
Elk Park, NC
3 BR | Available Now
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House
Dishwasher
1
$1,800
Two Bedroom Home Near Downtown Banner Elk!
1263 Balm Hwy Banner Elk, NC
2 BR | Jan. 1, 2025
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Dishwasher
1
$1,310
150 Smith St
Elk Park, NC
3 BR | Available Now
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1 - 4 of 4 Results
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How much does it cost to rent an apartment in Banner Elk?

Banner Elk Apartments
Bed Type Average Rent Range
2BR $2,000 $1,800 - $2,200
Frequently Asked Questions

How many apartments are available in Banner Elk, NC on Rentable.co?

Rentable.co has over 37 apartments available in Banner Elk.

What is the average rent for a two-bedroom apartment in Banner Elk, NC?

The average rent for a two-bedroom apartment in Banner Elk is around $2,000 per month.

How expensive is it to rent an apartment in Banner Elk, NC?

For a two-bedroom apartment in Banner Elk, the average rent price is $2,000 per month, which is higher than the national average of $1,600 per month.

Can I afford an apartment for rent in Banner Elk, NC?

Based on average rent prices in Banner Elk, to afford a two-bedroom apartment you would need an annual household income of $80,000 to live comfortably.

Search Cities Near Banner Elk, NC

Boone, NC
Elizabethton, TN

Banner Elk:
December Rent Report

Welcome to the December 2024 Banner Elk Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the December 2024 key findings and figures for the Banner Elk rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Banner Elk and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Banner Elk average rent prices in the chart below.

Monthly Rent Report

$2,600
$1,950
$1,300
$650
$0
Jan. 2024
Feb. 2024
Mar. 2024
Apr. 2024
May. 2024
Jun. 2024
Jul. 2024
Aug. 2024
Sep. 2024
Oct. 2024
Nov. 2024
Dec. 2024
1 BR       2 BR

Banner Elk Rent Prices Decrease From November to December

Banner Elk rent prices decreased over the last month. From November to December, the city experienced a -43.95% decrease for the price of a one-bedroom apartment. The rent price for a Banner Elk one-bedroom apartments currently stands at $1,065.0.

When we take a look at the two-bedroom comparison from November to December, Banner Elk experienced a -1.26% decrease for the price of a two-bedroom apartment. The rent price for a Banner Elk two-bedroom apartments currently stands at $2,500.0.

December Prices: Banner Elk vs. Surrounding Areas

Rent Prices in Banner Elk and Surrounding Areas

Rent prices have decreased in Banner Elk over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Banner Elk suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rents did not increase in any of the Banner Elk suburbs

  • Rents did not decrease in any of the Banner Elk suburbs.

December 2024 Pricing Trends: Banner Elk vs. National Comparisons

New York, NY
San Francisco, CA
Los Angeles, CA
Washington, DC
Chicago, IL
Columbus, OH
Minneapolis, MN
Pittsburgh, PA
$4,134
$3,160
$2,389
$2,353
$1,914
$1,318
$1,255
$1,234
$0
$1,350
$2,700
$4,050
$5,400
Median Rent

Banner Elk Rent Prices More Affordable Than Major Cities

Rent growth in Banner Elk over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Banner Elk average rent prices appear to be relatively affordable for local residents.

The price for a Banner Elk one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Banner Elk and surrounding area rent prices, take a look at the complete data set below.

Data set for Banner Elk and suburbs

1 BR December 1 BR M/M % Change 2 BR December 2 BR M/M % Change

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.

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