Balfour is an unincorporated community and census-designated place (CDP) in Henderson County, North Carolina, United States.

[6] The community derives its name from Captain William Balfour Troy, the original owner of the town site.

[7] Balfour is bordered to the south by Hendersonville, the county seat, and to the north by Mountain Home.

U.S. Route 25 Business (Asheville Highway) is the main road through the community, leading south into Hendersonville and north 4 miles (6 km) to Interstate 26 and US 25.

[5] Mud Creek, a north-flowing tributary of the French Broad River, forms the eastern edge of the CDP.