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  4. /Mars Hill, NC - 28754

Mars Hill, NC—28754

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$425,000
0.5% YoY Growth
Household Income
$68,800
51.3% YoY Growth
Days on Market
57
26.0% Longer YoY
Home Price Forecast
0.3%
Median Rent
$2,100
33.5% YoY Growth
1-Bed Rent
$2,570
35.3% YoY Growth
2-Bed Rent
$1,480
11.3% YoY Growth
3-Bed Rent
$2,600
10.9% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Mars Hill, NC

As of May '26, the median home price in Mars Hill, NC is $425,000, with a year-over-year change of -0.5%. This indicates that home prices in Mars Hill, NC are flat. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$425,000-0.5%
Single Family $428,000-0.9%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$373,0000.3%
    3 Bed
    		$470,000-1.1%
    4 Bed
    		$606,000-1.0%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    0.4%
    1 Bedroom
    6.4%
    2 Bedrooms
    26.8%
    3 Bedrooms
    50.0%
    4 Bedrooms
    14.6%
    5+ Bedrooms
    1.7%

    Rental Trends — Mars Hill, NC

    As of July '25, Rentcast reports the average rent in Mars Hill, NC is $2,710, with a year-over-year rent change of 33.5%. Per bedroom, the median rent as of July '25 in Mars Hill, NC is 1-bedrooms: $2,570, 2-bedrooms: $1,670, 3-bedrooms: $2,750, 4-bedrooms: $8,870. The most common rental property sizes in Mars Hill, NC are 2-bedroom and 3-bedroom, accounting for 51.4% and 39.7% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,100$2,710
    Studio Rent N/AN/A
    1 Bed Rent $2,570$2,570
    2 Bed Rent $1,480$1,670
    3 Bed Rent $2,600$2,750
    4 Bed Rent $8,870$8,870
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    % of Rental Stock

    Studio
    2.1%
    1 Bedroom
    4.7%
    2 Bedrooms
    51.4%
    3 Bedrooms
    39.7%
    4 Bedrooms
    1.0%
    5+ Bedrooms
    1.1%

    Property Listings — Mars Hill, NC

    As of May '26, Realtor.com reports that the median days on market for a home in Mars Hill, NC is 57. This is a increase of 26.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$505,000-14.0%
    Listing Count
    		10635.0%
    Listings as % of Homes1.1%35.0%
    Days on Market
    		5726.0%
    Loading chart...

    Demographics — Mars Hill, NC

    As of the latest ACS Survey released in 2023, Mars Hill, NC has a population of 9,900, which has decreased by -2.4% over the past 5 years. Mars Hill, NC is a moderately popular place for families, as children make up 15.2% of the population. The area has a moderately educated workforce, with 32.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.2% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		9,900-2.4%
    % Under 18
    		15.2%-21.2%
    % Seniors
    		20.6%-0.5%
    % WFH
    		11.2%-3.4%
    % w/ College Degree
    		32.4%-9.5%
    Loading chart...

    As of the latest ACS Survey released in 2023, Mars Hill, NC is a predominantly white area, with 90.7% of the population identifying as white. The white population has shrunk by 0.4% in the last 5 years. The second most common race or ethnicity in Mars Hill, NC is hispanic, making up 5.3% of the population. Foreign-born residents account for 1.9% of the population in Mars Hill, NC, and this percentage has decreased by 13.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		90.7%-0.4%
    % Black
    		1.7%-43.3%
    % Hispanic
    		5.3%39.5%
    % Asian
    		0.6%-25.0%
    % Foreign Born
    		1.9%-13.6%
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    Mortgage and Risk — Mars Hill, NC

    According to HUD data as of 2023, there were 151 mortgage originations in Mars Hill, NC, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Mars Hill, NC. Investor activity is low, as 3.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		151
    % Conventional Loans
    		87.0%
    % Government Loans
    		13.0%
    % Investor Loans
    		3.0%
    % Second Loans
    		4.0%
    % Cash Out Refinance
    		11.0%
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    Rentals and Section 8 — Mars Hill, NC

    As of 2024, the percent of homes in Mars Hill, NC under the Section 8 program is 8.4%. 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. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Mars Hill, NC, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		156
    Total Units Section 8
    		69
    % Rentals under Section 8
    		8.4%
    % Occupied Section 8
    		94.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$1,220$2,570$1,350
    2 Bedroom$40$1,480$1,520
    3 Bedroom-$650$2,600$1,950
    4 Bedroom-$6,300$8,870$2,570

    Affordability — Mars Hill, NC

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio5.7
    Median Home Price$425,000
    Median Household Income$68,800

    Mars Hill, NC — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    Frequently Asked Questions