Asheville, NC—28804
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 $603,000, with a year-over-year change of -1.7%. This indicates that home prices in Asheville, NC are decreasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $603,000 | -1.7% |
| Single Family | $601,000 | -2.6% |
| Condos | $638,000 | -0.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $253,000 | -5.2% |
2 Bed | $387,000 | -4.0% |
3 Bed | $606,000 | -2.6% |
4 Bed | $853,000 | -2.2% |
| 5 Bed | $1,362,000 | -2.5% |
% of Housing Stock
Rental Trends — Asheville, NC
As of July '25, Rentcast reports the average rent in Asheville, NC is $1,940, with a year-over-year rent change of -9.3%. Per bedroom, the median rent as of July '25 in Asheville, NC is studios: $1,500, 1-bedrooms: $1,310, 2-bedrooms: $1,790, 3-bedrooms: $2,510, 4-bedrooms: $3,130. The most common rental property sizes in Asheville, NC are 2-bedroom and 1-bedroom, accounting for 55.2% and 18.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,790 | $1,940 |
| Studio Rent | $1,200 | $1,500 |
| 1 Bed Rent | $1,250 | $1,310 |
| 2 Bed Rent | $1,750 | $1,790 |
| 3 Bed Rent | $2,200 | $2,510 |
| 4 Bed Rent | $3,200 | $3,130 |
% 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 68. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $799,000 | -12.0% |
Listing Count | 238 | 59.0% |
| Listings as % of Homes | 0.5% | 59.0% |
Days on Market | 68 | 0.0% |
Demographics — Asheville, NC
As of the latest ACS Survey released in 2023, Asheville, NC has a population of 25,100, which has increased by 13.3% over the past 5 years. Asheville, NC is a less popular place for families, as children make up 14.6% of the population. The area has a highly educated workforce, with 59.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,100 | 13.3% |
% Under 18 | 14.6% | -12.6% |
% Seniors | 24.0% | 9.6% |
% WFH | 22.5% | 51.0% |
% w/ College Degree | 59.6% | 11.0% |
As of the latest ACS Survey released in 2023, Asheville, NC is a predominantly white area, with 81.7% of the population identifying as white. The white population has shrunk by 6.5% in the last 5 years. The second most common race or ethnicity in Asheville, NC is hispanic, making up 8.1% of the population. Foreign-born residents account for 7.2% of the population in Asheville, NC, and this percentage has increased by 24.1% 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 | 81.7% | -6.5% |
% Black | 3.9% | 116.7% |
% Hispanic | 8.1% | 8.0% |
% Asian | 2.0% | 100.0% |
% Foreign Born | 7.2% | 24.1% |
Mortgage and Risk — Asheville, NC
According to HUD data as of 2023, there were 384 mortgage originations in Asheville, NC, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Asheville, NC. Investor activity is low, as 2.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 384 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 2.0% |
% Second Loans | 8.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Asheville, NC
As of 2024, the percent of homes in Asheville, NC under the Section 8 program is 2.5%. 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. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Asheville, NC, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 126 |
Total Units Section 8 | 126 |
% Rentals under Section 8 | 2.5% |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $440 | $1,250 | $1,690 |
| 2 Bedroom | $120 | $1,750 | $1,870 |
| 3 Bedroom | $200 | $2,200 | $2,400 |
| 4 Bedroom | -$40 | $3,200 | $3,160 |
Affordability — Asheville, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.2 |
| Median Home Price | $603,000 |
| Median Household Income | $79,700 |