This number was 16.1 percent higher than the state average of 40.9 percent. In 2019 the total municipality population reached 1,332.
92.8 percent of the population had at least a high school diploma or the equivalent. The table below shows how many Banner Elk residents who were at least 25 years old in 2019 held each of the listed degrees.
Degree distribution in Banner Elk for 2019*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 32 | 7.2 |
| Regular high school diploma | 33 | 7.4 |
| GED or alternative credential | 12 | 2.7 |
| Some college, less than 1 year | 23 | 5.2 |
| Some college, 1 or more years, no degree | 92 | 20.6 |
| Associate's degree | 57 | 12.8 |
| Bachelor's degree | 93 | 20.9 |
| Master's degree | 71 | 15.9 |
| Professional school degree | 12 | 2.7 |
| Doctorate degree | 21 | 4.7 |
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