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Asheville, NC—28804

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$602,000
4.6% YoY Growth
Household Income
$79,700
33.2% YoY Growth
Days on Market
56
32.0% Longer YoY
Home Price Forecast
-0.5%
Median Rent
$1,790
9.3% YoY Growth
1-Bed Rent
$1,250
7.4% YoY Growth
2-Bed Rent
$1,750
0.6% YoY Growth
3-Bed Rent
$2,200
4.6% YoY Growth

Other Zip Codes in Asheville, NC

28805288012880628803
  • 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 $602,000, with a year-over-year change of -4.6%. This indicates that home prices in Asheville, NC are decreasing. According to Zillow, the 1-year price projection is -0.5%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$602,000-4.6%
Single Family $601,000-4.6%
Condos $609,000-2.9%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $255,000
    -7.3%
    2 Bed
    		$386,000-4.9%
    3 Bed
    		$601,000-4.5%
    4 Bed
    		$855,000-4.1%
    5 Bed $1,332,796-4.8%
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    % of Housing Stock

    Studio
    4.2%
    1 Bedroom
    5.9%
    2 Bedrooms
    27.7%
    3 Bedrooms
    41.0%
    4 Bedrooms
    16.9%
    5+ Bedrooms
    4.3%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    5.2%
    1 Bedroom
    18.4%
    2 Bedrooms
    55.2%
    3 Bedrooms
    17.0%
    4 Bedrooms
    3.7%
    5+ Bedrooms
    0.4%

    Property Listings — Asheville, NC

    As of May '26, Realtor.com reports that the median days on market for a home in Asheville, NC is 56. This is a increase of 32.0% 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 31.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$795,0005.0%
    Listing Count
    		24215.0%
    Listings as % of Homes0.5%15.0%
    Days on Market
    		5632.0%
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    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.

    MetricLatest CensusYoY % Change
    Population
    		25,10013.3%
    % Under 18
    		14.6%-12.6%
    % Seniors
    		24.0%9.6%
    % WFH
    		22.5%51.0%
    % w/ College Degree
    		59.6%11.0%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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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 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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio7.3
    Median Home Price$602,000
    Median Household Income$79,700

    Asheville, NC — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Asheville, NC

    28801

    Asheville, NC

    28805

    Weaverville, NC

    28787

    Asheville, NC

    28806

    Alexander, NC

    28701

    Frequently Asked Questions