Asheville, NC—28806
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 $404,000, with a year-over-year change of -3.3%. 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 | $404,000 | -3.3% |
| Single Family | $409,000 | -4.2% |
| Condos | $288,000 | -1.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $303,000 | -6.5% |
2 Bed | $341,000 | -5.0% |
3 Bed | $421,000 | -3.7% |
4 Bed | $553,000 | -2.3% |
| 5 Bed | $737,000 | -3.4% |
% 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 -10.6%. Per bedroom, the median rent as of July '25 in Asheville, NC is studios: $1,280, 1-bedrooms: $1,470, 2-bedrooms: $1,800, 3-bedrooms: $2,320, 4-bedrooms: $2,860. The most common rental property sizes in Asheville, NC are 2-bedroom and 3-bedroom, accounting for 41.0% and 28.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,900 | $1,940 |
| Studio Rent | $1,200 | $1,280 |
| 1 Bed Rent | $1,500 | $1,470 |
| 2 Bed Rent | $1,850 | $1,800 |
| 3 Bed Rent | $2,200 | $2,320 |
| 4 Bed Rent | $2,850 | $2,860 |
% 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 increase of 12.0% 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 37.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $497,000 | -4.0% |
Listing Count | 319 | 73.0% |
| Listings as % of Homes | 0.6% | 73.0% |
Days on Market | 68 | 12.0% |
Demographics — Asheville, NC
As of the latest ACS Survey released in 2023, Asheville, NC has a population of 45,600, which has increased by 7.0% over the past 5 years. Asheville, NC is a moderately popular place for families, as children make up 19.5% of the population. The area has a moderately educated workforce, with 44.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 45,600 | 7.0% |
% Under 18 | 19.5% | -0.5% |
% Seniors | 13.6% | -2.2% |
% WFH | 14.3% | 38.8% |
% w/ College Degree | 44.5% | 26.8% |
As of the latest ACS Survey released in 2023, Asheville, NC is a predominantly white area, with 77.0% of the population identifying as white. The white population has shrunk by 3.4% in the last 5 years. The second most common race or ethnicity in Asheville, NC is hispanic, making up 11.0% of the population. Foreign-born residents account for 9.7% of the population in Asheville, NC, and this percentage has increased by 29.3% 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 | 77.0% | -3.4% |
% Black | 6.5% | -3.0% |
% Hispanic | 11.0% | 17.0% |
% Asian | 1.8% | 50.0% |
% Foreign Born | 9.7% | 29.3% |
Mortgage and Risk — Asheville, NC
According to HUD data as of 2023, there were 835 mortgage originations in Asheville, NC, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Asheville, NC. Investor activity is low, as 3.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 835 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 3.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Asheville, NC
As of 2024, the percent of homes in Asheville, NC under the Section 8 program is 13.4%. 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, 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 | 908 |
Total Units Section 8 | 902 |
% Rentals under Section 8 | 13.4% |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$140 | $1,500 | $1,360 |
| 2 Bedroom | -$320 | $1,850 | $1,530 |
| 3 Bedroom | -$240 | $2,200 | $1,960 |
| 4 Bedroom | -$260 | $2,850 | $2,590 |
Affordability — Asheville, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.5 |
| Median Home Price | $404,000 |
| Median Household Income | $59,900 |