Asheville, NC—28801
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Asheville, NC
As of Oct '25, the median home price in Asheville, NC is $559,000, with a year-over-year change of -2.2%. This indicates that home prices in Asheville, NC are decreasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $559,000 | -2.3% |
| Single Family | $548,000 | -3.4% |
| Condos | $606,000 | 0.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $445,000 | -1.5% |
2 Bed | $476,000 | -3.3% |
3 Bed | $592,000 | -3.0% |
4 Bed | $799,000 | -2.3% |
| 5 Bed | $1,104,000 | -3.9% |
% of Housing Stock
Rental Trends — Asheville, NC
As of July '25, Rentcast reports the average rent in Asheville, NC is $1,950, with a year-over-year rent change of -15.2%. Per bedroom, the median rent as of July '25 in Asheville, NC is studios: $1,370, 1-bedrooms: $1,560, 2-bedrooms: $2,160, 3-bedrooms: $2,700, 4-bedrooms: $3,560. The most common rental property sizes in Asheville, NC are 2-bedroom and 1-bedroom, accounting for 28.8% and 26.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,950 |
| Studio Rent | $1,300 | $1,370 |
| 1 Bed Rent | $1,520 | $1,560 |
| 2 Bed Rent | $1,800 | $2,160 |
| 3 Bed Rent | $2,400 | $2,700 |
| 4 Bed Rent | $3,500 | $3,560 |
% of Rental Stock
Property Listings — Asheville, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Asheville, NC is 81. This is a increase of 27.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $810,000 | 11.0% |
Listing Count | 148 | 61.0% |
| Listings as % of Homes | 0.6% | 61.0% |
Days on Market | 81 | 27.0% |
Demographics — Asheville, NC
As of the latest ACS Survey released in 2023, Asheville, NC has a population of 13,600, which has remained stable by -0.8% over the past 5 years. Asheville, NC is a less popular place for families, as children make up 12.0% of the population. The area has a highly educated workforce, with 53.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 25.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,600 | -0.8% |
% Under 18 | 12.0% | -13.0% |
% Seniors | 18.0% | 18.4% |
% WFH | 25.0% | 119.3% |
% w/ College Degree | 53.2% | 19.3% |
As of the latest ACS Survey released in 2023, Asheville, NC is a predominantly white area, with 74.3% of the population identifying as white. The white population has grown by 10.1% in the last 5 years. The second most common race or ethnicity in Asheville, NC is black, making up 17.0% of the population. Foreign-born residents account for 2.7% of the population in Asheville, NC, and this percentage has decreased by 25.0% 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 | 74.3% | 10.1% |
% Black | 17.0% | -32.8% |
% Hispanic | 2.1% | -22.2% |
% Asian | 0.6% | -53.8% |
% Foreign Born | 2.7% | -25.0% |
Mortgage and Risk — Asheville, NC
According to HUD data as of 2023, there were 135 mortgage originations in Asheville, NC, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 10.0% above 90% LTV (elevated). This implies medium mortgage risk in Asheville, NC. Investor activity is low, as 6.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 135 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 6.0% |
% Second Loans | 11.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Asheville, NC
As of 2024, the percent of homes in Asheville, NC under the Section 8 program is 43.4%. This is considered high, suggesting that the neighborhood is heavily 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 Asheville, 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 | 783 |
Total Units Section 8 | 756 |
% Rentals under Section 8 | 43.4% |
% Occupied Section 8 | 82.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $50 | $1,520 | $1,570 |
| 2 Bedroom | -$40 | $1,800 | $1,760 |
| 3 Bedroom | -$140 | $2,400 | $2,260 |
| 4 Bedroom | -$520 | $3,500 | $2,980 |
Affordability — Asheville, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 10.8 |
| Median Home Price | $559,000 |
| Median Household Income | $51,100 |