Asheville, NC—28803
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 $453,000, with a year-over-year change of -1.1%. This indicates that home prices in Asheville, NC are decreasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $453,000 | -1.1% |
| Single Family | $483,000 | -2.0% |
| Condos | $304,000 | -1.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $248,000 | -2.4% |
2 Bed | $309,000 | -2.5% |
3 Bed | $450,000 | -1.7% |
4 Bed | $797,000 | -0.7% |
| 5 Bed | $1,456,000 | 1.1% |
% of Housing Stock
Rental Trends — Asheville, NC
As of July '25, Rentcast reports the average rent in Asheville, NC is $1,930, with a year-over-year rent change of -13.8%. Per bedroom, the median rent as of July '25 in Asheville, NC is studios: $1,330, 1-bedrooms: $1,480, 2-bedrooms: $1,750, 3-bedrooms: $2,210, 4-bedrooms: $3,660. The most common rental property sizes in Asheville, NC are 2-bedroom and 3-bedroom, accounting for 47.0% and 22.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,720 | $1,930 |
| Studio Rent | $1,100 | $1,330 |
| 1 Bed Rent | $1,430 | $1,480 |
| 2 Bed Rent | $1,630 | $1,750 |
| 3 Bed Rent | $2,200 | $2,210 |
| 4 Bed Rent | $3,000 | $3,660 |
% 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 90. This is a increase of 43.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $614,000 | -6.0% |
Listing Count | 309 | 51.0% |
| Listings as % of Homes | 0.6% | 51.0% |
Days on Market | 90 | 43.0% |
Demographics — Asheville, NC
As of the latest ACS Survey released in 2023, Asheville, NC has a population of 34,800, which has increased by 2.9% over the past 5 years. Asheville, NC is a moderately popular place for families, as children make up 18.3% of the population. The area has a highly educated workforce, with 50.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 34,800 | 2.9% |
% Under 18 | 18.3% | 2.2% |
% Seniors | 22.5% | 4.7% |
% WFH | 15.9% | 87.1% |
% w/ College Degree | 50.4% | 3.1% |
As of the latest ACS Survey released in 2023, Asheville, NC is a predominantly white area, with 78.4% of the population identifying as white. The white population has grown by 0.5% in the last 5 years. The second most common race or ethnicity in Asheville, NC is hispanic, making up 10.1% of the population. Foreign-born residents account for 9.4% of the population in Asheville, NC, and this percentage has increased by 34.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 78.4% | 0.5% |
% Black | 7.4% | -41.7% |
% Hispanic | 10.1% | 165.8% |
% Asian | 1.7% | -39.3% |
% Foreign Born | 9.4% | 34.3% |
Mortgage and Risk — Asheville, NC
According to HUD data as of 2023, there were 600 mortgage originations in Asheville, NC, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Asheville, NC. Investor activity is low, as 4.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 600 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 4.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Asheville, NC
As of 2024, the percent of homes in Asheville, NC under the Section 8 program is 9.5%. 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. In Asheville, NC, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 878 |
Total Units Section 8 | 814 |
% Rentals under Section 8 | 9.5% |
% Occupied Section 8 | 90.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $300 | $1,430 | $1,730 |
| 2 Bedroom | $310 | $1,630 | $1,940 |
| 3 Bedroom | $290 | $2,200 | $2,490 |
| 4 Bedroom | $290 | $3,000 | $3,290 |
Affordability — Asheville, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.1 |
| Median Home Price | $453,000 |
| Median Household Income | $70,600 |