Mills River, NC 28759 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Mills River, NC—28759

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$532,000

0.6% YoY Growth

Household Income

$89,000

40.0% YoY Growth

Days on Market

124

35.0% Longer YoY

Home Price Forecast

1.5%

Median Rent

$2,500

32.3% YoY Growth

1-Bed Rent

$1,340

29.5% YoY Growth

2-Bed Rent

$2,000

2.4% YoY Growth

3-Bed Rent

$2,500

4.8% YoY Growth

Home Price Trends — Mills River, NC

As of Dec '25, the median home price in Mills River, NC is $532,000, with a year-over-year change of -0.6%. This indicates that home prices in Mills River, NC are flat. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$532,000	-0.6%
Single Family	$535,000	-0.7%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Mills River, NC

As of July '25, Rentcast reports the average rent in Mills River, NC is $2,910, with a year-over-year rent change of 32.3%. Per bedroom, the median rent as of July '25 in Mills River, NC is 1-bedrooms: $1,340, 2-bedrooms: $2,000, 3-bedrooms: $2,360, 4-bedrooms: $4,000. The most common rental property sizes in Mills River, NC are 3-bedroom and 4-bedroom, accounting for 41.8% and 29.6% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,500	$2,910
Studio Rent	N/A	N/A
1 Bed Rent	$1,340	$1,340
2 Bed Rent	$2,000	$2,000
3 Bed Rent	$2,500	$2,360
4 Bed Rent	$4,000	$4,000

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% of Rental Stock

2 Bedrooms

28.6%

3 Bedrooms

41.8%

4 Bedrooms

29.6%

Property Listings — Mills River, NC

As of Dec '25, Realtor.com reports that the median days on market for a home in Mills River, NC is 93. This is a increase of 48.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 29.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$737,000	-2.0%
Listing Count	60	49.0%
Listings as % of Homes	0.9%	49.0%
Days on Market	124	35.0%

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Demographics — Mills River, NC

As of the latest ACS Survey released in 2023, Mills River, NC has a population of 7,560, which has remained stable by 1.0% over the past 5 years. Mills River, NC is a moderately popular place for families, as children make up 21.2% of the population. The area has a moderately educated workforce, with 42.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.9% reporting working from home.

Metric	Latest Census	YoY % Change
Population	7,560	1.0%
% Under 18	21.2%	6.5%
% Seniors	25.0%	16.8%
% WFH	10.9%	47.3%
% w/ College Degree	42.6%	17.7%

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As of the latest ACS Survey released in 2023, Mills River, NC is a predominantly white area, with 83.9% of the population identifying as white. The white population has shrunk by 5.7% in the last 5 years. The second most common race or ethnicity in Mills River, NC is asian, making up 5.0% of the population. Foreign-born residents account for 5.5% of the population in Mills River, NC, and this percentage has decreased by 11.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	83.9%	-5.7%
% Black	3.0%	-18.9%
% Hispanic	4.4%	51.7%
% Asian	5.0%	257.1%
% Foreign Born	5.5%	-11.3%

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Mortgage and Risk — Mills River, NC

According to HUD data as of 2023, there were 222 mortgage originations in Mills River, NC, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Mills River, NC. Investor activity is low, as 0.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	222
% Conventional Loans	88.0%
% Government Loans	12.0%
% Investor Loans	0.0%
% Second Loans	4.0%
% Cash Out Refinance	9.0%

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Rentals and Section 8 — Mills River, NC

As of 2024, the percent of homes in Mills River, NC under the Section 8 program is 1.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Mills River, NC, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	9
Total Units Section 8	9
% Rentals under Section 8	1.8%
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$110	$1,340	$1,450
2 Bedroom	-$390	$2,000	$1,610
3 Bedroom	-$460	$2,500	$2,040
4 Bedroom	-$1,300	$4,000	$2,700

Mills River, NC—28759

Key Metrics at a Glance

Home Price Trends — Mills River, NC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Mills River, NC

% of Rental Stock

Property Listings — Mills River, NC

Demographics — Mills River, NC

Race and Ethnicity

Mortgage and Risk — Mills River, NC

Mortgages

Rentals and Section 8 — Mills River, NC

Section 8 Market Size

Section 8 Opportunity

Affordability — Mills River, NC

Home Price to Income Ratio

Mills River, NC — ZIP Code Boundary Map

Nearby ZIP Codes

Etowah, NC

Horse Shoe, NC

Arden, NC

Hendersonville, NC

Hendersonville, NC

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	5.6
Median Home Price	$532,000
Median Household Income	$89,000

Mills River, NC—28759

Key Metrics at a Glance

Home Price Trends — Mills River, NC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Mills River, NC

% of Rental Stock

Property Listings — Mills River, NC

Demographics — Mills River, NC

Race and Ethnicity

Mortgage and Risk — Mills River, NC

Mortgages

Rentals and Section 8 — Mills River, NC

Section 8 Market Size

Section 8 Opportunity

Affordability — Mills River, NC

Home Price to Income Ratio

Mills River, NC — ZIP Code Boundary Map

Nearby ZIP Codes

Etowah, NC

Horse Shoe, NC

Arden, NC

Hendersonville, NC

Hendersonville, NC

Frequently Asked Questions

What is the average home price in Mills River, NC 28759?

How have home prices in Mills River, NC 28759 changed over the past year?

What is the home price projection for Mills River, NC 28759?

What are the demographics of Mills River, NC 28759?

How long does it take homes to sell in Mills River, NC 28759?

What is the average rent price in Mills River, NC 28759?