Rent in Banner Elk, NC
A 2-bedroom in Banner Elk, NC (ZIP 28604) typically rents for about $1,040 a month, with a range of $1,012–$1,040. Owner-occupied homes in Avery County pay about 0.38% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.32% in the week of Oct 22, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $769 | $769 | 1 |
| 1 bed | $774 | $774 | 1 |
| 2 beds | $1,040 | $1,012–$1,040 | 1 |
| 3 beds | $1,087 | $1,087–$1,346 | 1 |
| 4 beds | $1,531 | $1,531 | 1 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
Banner Elk ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Banner Elk, NC?
- About $1,040 a month: the median of the typical rents in 1 ZIP code, which range from $1,012–$1,040. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Banner Elk, NC?
- About $774 a month: the median of the typical rents in 1 ZIP code, which range from $774. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Banner Elk, NC?
- About $1,087 a month: the median of the typical rents in 1 ZIP code, which range from $1,087–$1,346. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Banner Elk, NC?
- About $769 a month: the median of the typical rents in 1 ZIP code, which range from $769. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Banner Elk, NC?
- About $1,531 a month: the median of the typical rents in 1 ZIP code, which range from $1,531. Figures are gross rent (rent plus tenant-paid utilities).
- What is the property tax rate in Banner Elk, NC?
- Owner-occupied homes in Avery County pay a typical 0.38% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.32% in the week of Oct 22, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Banner Elk rent figures come from?
- Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).