Banner Elk is a town in Avery County, North Carolina, United States. The population was 1,028 at the 2010 census. Banner Elk is home to Lees–McRae College.

Avery County is a county located in the U.S. state of North Carolina. As of the 2020 census, the population was 17,806. The county seat is Newland. The county seat was initially established in Elk Park when the county was first formed, but was moved to Newland upon completion of the courthouse in 1912. Founded in 1911, it is the youngest of North Carolina's 100 counties.