Asheville, NC—28805
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 -2.8%. 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 | -2.8% |
| Single Family | $469,000 | -3.9% |
| Condos | $297,000 | -5.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $271,000 | -1.5% |
2 Bed | $330,000 | -4.1% |
3 Bed | $481,000 | -3.6% |
4 Bed | $655,000 | -2.4% |
| 5 Bed | $800,000 | -2.3% |
% of Housing Stock
Rental Trends — Asheville, NC
As of July '25, Rentcast reports the average rent in Asheville, NC is $2,190, with a year-over-year rent change of -6.8%. Per bedroom, the median rent as of July '25 in Asheville, NC is studios: $1,700, 1-bedrooms: $1,570, 2-bedrooms: $2,080, 3-bedrooms: $2,750, 4-bedrooms: $4,010. The most common rental property sizes in Asheville, NC are 2-bedroom and 1-bedroom, accounting for 37.0% and 21.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,190 |
| Studio Rent | $1,480 | $1,700 |
| 1 Bed Rent | $1,660 | $1,570 |
| 2 Bed Rent | $2,100 | $2,080 |
| 3 Bed Rent | $2,500 | $2,750 |
| 4 Bed Rent | $3,500 | $4,010 |
% 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 78. This is a increase of 42.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $542,000 | 3.0% |
Listing Count | 160 | 86.0% |
| Listings as % of Homes | 0.5% | 86.0% |
Days on Market | 78 | 42.0% |
Demographics — Asheville, NC
As of the latest ACS Survey released in 2023, Asheville, NC has a population of 20,200, which has increased by 2.2% over the past 5 years. Asheville, NC is a moderately popular place for families, as children make up 16.1% of the population. The area has a highly educated workforce, with 48.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,200 | 2.2% |
% Under 18 | 16.1% | -4.7% |
% Seniors | 25.8% | 7.5% |
% WFH | 16.7% | 38.0% |
% w/ College Degree | 48.9% | 15.3% |
As of the latest ACS Survey released in 2023, Asheville, NC is a predominantly white area, with 81.4% of the population identifying as white. The white population has shrunk by 0.7% in the last 5 years. The second most common race or ethnicity in Asheville, NC is black, making up 8.4% of the population. Foreign-born residents account for 7.1% of the population in Asheville, NC, and this percentage has increased by 36.5% 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 | 81.4% | -0.7% |
% Black | 8.4% | -8.7% |
% Hispanic | 5.7% | -17.4% |
% Asian | 0.7% | 250.0% |
% Foreign Born | 7.1% | 36.5% |
Mortgage and Risk — Asheville, NC
According to HUD data as of 2023, there were 394 mortgage originations in Asheville, NC, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Asheville, NC. Investor activity is low, as 4.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 394 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 4.0% |
% Second Loans | 3.0% |
% 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 16.3%. 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. In Asheville, NC, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 1,002 |
Total Units Section 8 | 982 |
% Rentals under Section 8 | 16.3% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$300 | $1,660 | $1,360 |
| 2 Bedroom | -$580 | $2,100 | $1,520 |
| 3 Bedroom | -$550 | $2,500 | $1,950 |
| 4 Bedroom | -$930 | $3,500 | $2,570 |
Affordability — Asheville, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.6 |
| Median Home Price | $453,000 |
| Median Household Income | $67,100 |