Asheville, North Carolina Housing Market Prices
Asheville Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 69% above the North Carolina median$469,309
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Median rent 12% above the North Carolina median$1,379
Housing Market Overview
| Metric | Asheville | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $469,309 | $278,288 | $248,835 |
| Price Trend (Annual %) | 10.8% | 9.3% | 7.5% |
| Median Gross Rent | $1,379 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 5.7% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Asheville is about 69% higher than in North Carolina. Rent is about 12% higher than the North Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Asheville, up about 10.8% and 5.7% a year respectively. Home prices are changing faster.
Median rent in Asheville rose about 63.0% between 2015 and 2024, from $846 to $1,379. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 6.6 yearly household incomes in Asheville.
Buying the median-priced home in Asheville costs roughly 28.4 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Asheville. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | Asheville | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $469,309 | $278,288 | $248,835 |
| Median Household Income | $70,688 | $72,438 | $80,455 |
| Price-to-Income Ratio | 6.6 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Asheville rose about 62.0%, while median household income rose about 76.9% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Asheville | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 40.2% | 58.3% | 58.5% |
| Rental Rate | 33.5% | 29.2% | 31.2% |
| Vacancy Rate | 26.3% | 12.5% | 10.2% |
| Median Tenure (years) | 10.0 | 15.0 | 15.0 |
| Median Year Moved In | 2016 | 2011 | 2011 |
Asheville has a homeownership rate of 40.2%, lower than the North Carolina average of 58.3%. Its housing vacancy rate is 26.3%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | Asheville | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1977 | 1989 | 1978 |
| Median Number of Rooms | 5.3 | 5.6 | 5.5 |
The typical housing unit in Asheville was built around 1977. On average, 2.5 people live in a home with about 5.3 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Asheville, North Carolina.
What is the median home price in Asheville, North Carolina?
The median home price in Asheville, North Carolina is $469,309, higher than the North Carolina average of $278,288.
What is the average home price in Asheville, North Carolina?
The typical home price in Asheville, North Carolina, reported as the median sale price, is $469,309. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Asheville, North Carolina?
The median gross rent in Asheville, North Carolina is $1,379 per month, higher than the North Carolina average of $1,227.
What was the median gross rent in Asheville in 2020?
In 2020, the median gross rent in Asheville, North Carolina was $1,054 per month.
What is the price-to-rent ratio in Asheville, North Carolina?
The price-to-rent ratio in Asheville, North Carolina is about 28.4, meaning it would take roughly 28.4 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Asheville.
Are home prices or rent rising faster in Asheville, North Carolina?
Both home prices and rent are rising in Asheville, up about 10.8% and 5.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Asheville, North Carolina?
40.2% of households in Asheville, North Carolina own their home, lower than the North Carolina average of 58.3%.
What is the vacancy rate in Asheville, North Carolina?
The housing vacancy rate in Asheville, North Carolina is 26.3%, higher than the North Carolina average of 12.5%.
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