Mars Hill, NC—28754
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mars Hill, NC
As of Oct '25, the median home price in Mars Hill, NC is $417,000, with a year-over-year change of 1.8%. This indicates that home prices in Mars Hill, NC are increasing. 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 | $417,000 | 1.8% |
| Single Family | $420,000 | 1.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $366,000 | 3.1% |
3 Bed | $467,000 | 1.7% |
4 Bed | $604,000 | 2.9% |
| 5 Bed | N/A | N/A |
% of Housing Stock
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.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,710 |
| Studio Rent | N/A | N/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 |
% of Rental Stock
Property Listings — Mars Hill, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Mars Hill, NC is 78. This is a increase of 34.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $506,000 | -3.0% |
Listing Count | 85 | 60.0% |
| Listings as % of Homes | 1.1% | 60.0% |
Days on Market | 78 | 34.0% |
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.
| Metric | Latest Census | YoY % 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% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max 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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.5 |
| Median Home Price | $417,000 |
| Median Household Income | $68,800 |