Living in Balfour, North Carolina
Cost of living, income, home prices, rent and demographics of Balfour · Census data 2020–2024
Balfour has 1,134 residents with a median age of 46.1. The median household income is $70,116 (3% lower than the North Carolina median), the median home value is $292,600, the median rent is $591/month.
Balfour is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Balfour at a glance
- Population
- 1,134
- Median age
- 46.1State: 39.1
- Median household income
- $70,116State: $72,388
- Median home value
- $292,600State: $288,900
- Median rent
- $591/moState: $1,228
- Homeowners
- 78%
- Bachelor's degree or higher
- 32.2%
- Average commute
- 18 min
Is Balfour a good place to live?
Pros: An average commute of 18 minutes; a poverty rate of 5.6%.
Cons: Median household income 3% lower than the North Carolina median; home values about the same as the state median.
The weather is best in May–June and September–October.
Cost of living in Balfour
Housing is the biggest part of the cost of living. In Balfour the median home value is $292,600, 12% lower than the U.S. median. Renters pay a median of $591 per month, which is 18.3% of household income. Homeowners with a mortgage pay $1,740 a month in housing costs.
Balfour median household income
The median household income in Balfour is $70,116 and the income per person is $38,093. 5.6% of residents live below the poverty line (North Carolina: 13%).
Housing in Balfour: homes for sale and rent
- Housing units
- 584
- Owner-occupied
- 78%
- Renter-occupied
- 22%
- Vacant
- 20.5%Includes seasonal homes
- Median year built
- 1974
- Average household size
- 2.44
Balfour demographics
- Population
- 1,134
- Median age
- 46.1
- Under 18
- 10.8%
- 65 and older
- 26.5%
- Households
- 464
- Foreign-born
- 18.1%
- Veterans
- 4.3%Adults 18+
Hispanic or Latino can be of any race. Population history of Balfour ›
Education in Balfour
32.2% of adults 25 and older in Balfour have a bachelor's degree or higher (North Carolina: 35.7%), and 5.5% have a graduate or professional degree.
Jobs and commute in Balfour
- Unemployment rate
- 0%State: 4.7%
- Average commute
- 18 minState: 25 min
- Work from home
- 6.6%
- Drive alone
- 84.3%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 92.5%
Balfour vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Balfour | 1,134 | $70,116 | $292,600 | $591 |
| Mountain Home | 3,437 | $83,083 | $400,000 | $1,240 |
| Hendersonville | 15,408 | $53,449 | $317,000 | $1,332 |
| Laurel Park | 2,408 | $90,000 | $433,100 | $1,418 |
| Barker Heights | 1,074 | $29,277 | $190,300 | — |
| Valley Hill | 2,675 | $86,599 | $353,100 | — |
| Horse Shoe | 1,490 | $64,096 | $407,500 | — |
| Fruitland | 2,398 | $48,025 | $133,100 | $906 |
| Fletcher | 8,098 | $75,272 | $331,100 | $1,484 |
More for people moving to Balfour
Balfour ZIP code ›Weather and climate ›Living in Balfour: FAQ
What is the median household income in Balfour, NC?
The median household income in Balfour is $70,116, 3% lower than the North Carolina median of $72,388 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Balfour?
The median home value in Balfour is $292,600, compared with $288,900 in North Carolina.
How much is rent in Balfour?
The median gross rent in Balfour is $591 per month, about 18.3% of household income.
Is Balfour, NC a good place to live?
Pluses: an average commute of 18 minutes; a poverty rate of 5.6%. Minuses: median household income 3% lower than the North Carolina median; home values about the same as the state median.
What is the median age in Balfour?
The median age in Balfour is 46.1 years (North Carolina: 39.1).
How long is the commute in Balfour?
The average commute to work in Balfour is 18 minutes; 6.6% of workers work from home.
What is the unemployment rate in Balfour?
The unemployment rate in Balfour is 0% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Balfour?
32.2% of adults in Balfour have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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