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Asheville, NC—28803

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$451,000
5.2% YoY Growth
Household Income
$70,600
39.9% YoY Growth
Days on Market
50
22.0% Longer YoY
Home Price Forecast
-0.7%
Median Rent
$1,720
13.8% YoY Growth
1-Bed Rent
$1,430
19.4% YoY Growth
2-Bed Rent
$1,630
5.9% YoY Growth
3-Bed Rent
$2,200
14.3% YoY Growth

Other Zip Codes in Asheville, NC

28805288042880128806
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Asheville, NC

As of May '26, the median home price in Asheville, NC is $451,000, with a year-over-year change of -5.2%. This indicates that home prices in Asheville, NC are decreasing. According to Zillow, the 1-year price projection is -0.7%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$451,000-5.2%
Single Family $481,000-5.7%
Condos $291,000-4.6%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $241,000
    -9.7%
    2 Bed
    		$307,000-5.5%
    3 Bed
    		$447,000-4.9%
    4 Bed
    		$789,000-4.2%
    5 Bed $1,477,031-2.0%
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    % of Housing Stock

    Studio
    11.0%
    1 Bedroom
    7.3%
    2 Bedrooms
    32.2%
    3 Bedrooms
    34.6%
    4 Bedrooms
    11.2%
    5+ Bedrooms
    3.8%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    10.5%
    1 Bedroom
    18.2%
    2 Bedrooms
    47.0%
    3 Bedrooms
    22.0%
    4 Bedrooms
    2.2%
    5+ Bedrooms
    0.1%

    Property Listings — Asheville, NC

    As of May '26, Realtor.com reports that the median days on market for a home in Asheville, NC is 50. This is a increase of 22.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$600,0000.0%
    Listing Count
    		31318.0%
    Listings as % of Homes0.6%18.0%
    Days on Market
    		5022.0%
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    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.

    MetricLatest CensusYoY % Change
    Population
    		34,8002.9%
    % Under 18
    		18.3%2.2%
    % Seniors
    		22.5%4.7%
    % WFH
    		15.9%87.1%
    % w/ College Degree
    		50.4%3.1%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio6.3
    Median Home Price$451,000
    Median Household Income$70,600

    Asheville, NC — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Asheville, NC

    28801

    Arden, NC

    28704

    Asheville, NC

    28805

    Fletcher, NC

    28732

    Asheville, NC

    28806

    Frequently Asked Questions