Buncombe County, North Carolina Housing Market Prices
Buncombe County 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 53% above the North Carolina median More expensive than 92% of counties in North Carolina$426,146
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Median rent 11% above the North Carolina median More expensive than 93% of counties in North Carolina$1,362
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Buncombe County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $426,146 | $278,288 | $248,835 |
| Price Trend (Annual %) | 10.9% | 9.3% | 7.5% |
| Median Gross Rent | $1,362 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 6.0% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Buncombe County is about 53% higher than in North Carolina. Rent is about 11% 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 Buncombe County, up about 10.9% and 6.0% a year respectively. Home prices are changing faster.
Median rent in Buncombe County rose about 64.3% between 2015 and 2024, from $829 to $1,362. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 5.7 yearly household incomes in Buncombe County.
Buying the median-priced home in Buncombe County costs roughly 26.1 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 Buncombe County. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | Buncombe County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $426,146 | $278,288 | $248,835 |
| Median Household Income | $74,474 | $72,438 | $80,455 |
| Price-to-Income Ratio | 5.7 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Buncombe County rose about 117.4%, while median household income rose about 61.0% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Buncombe County | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.1% | 58.3% | 58.5% |
| Rental Rate | 25.6% | 29.2% | 31.2% |
| Vacancy Rate | 24.3% | 12.5% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Buncombe County has a homeownership rate of 50.1%, lower than the North Carolina average of 58.3%. Its housing vacancy rate is 24.3%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | Buncombe County | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.62 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1987 | 1989 | 1978 |
| Median Number of Rooms | 5.5 | 5.6 | 5.5 |
The typical housing unit in Buncombe County was built around 1987. On average, 2.6 people live in a home with about 5.5 rooms, staying for about 14.0 years on average.
Buncombe County, NC Housing Compared With Nearby Counties
Buncombe County, NC is the largest of the 6 counties compared here, 274,254 residents against a local median of 44,809. Buncombe County, NC's median rent, at $1,362, runs 54% above the $882 typical of the counties around it.
Median home price tells the same story from another angle: $426,146 against a local median of $291,070, 46% above it. The counties themselves spread $407 on median rent, so Buncombe County, NC sits at one end of an already wide local range rather than apart from it. Buncombe County, NC has the highest median rent of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Buncombe County, NC | 274,254 | $426,146 #2/6 | $1,362 #1/6 | 66.2% #6/6 |
| Henderson County, NC | 118,522 | $294,864 | $1,186 | 75.0% |
| Madison County, NC | 21,867 | $450,956 | $779 | 77.5% |
| Yancey County, NC | 18,788 | $291,070 | $882 | 79.4% |
| Haywood County, NC | 59,366 | $268,060 | $1,066 | 75.5% |
| McDowell County, NC | 44,809 | $202,989 | $806 | 75.6% |
Frequently Asked Questions
Common questions about the housing market in Buncombe County, North Carolina.
What is the median home price in Buncombe County, North Carolina?
The median home price in Buncombe County, North Carolina is $426,146, higher than the North Carolina average of $278,288.
What is the average home price in Buncombe County, North Carolina?
The typical home price in Buncombe County, North Carolina, reported as the median sale price, is $426,146. 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 Buncombe County, North Carolina?
The median gross rent in Buncombe County, North Carolina is $1,362 per month, higher than the North Carolina average of $1,227.
What was the median gross rent in Buncombe County in 2020?
In 2020, the median gross rent in Buncombe County, North Carolina was $1,019 per month.
What is the price-to-rent ratio in Buncombe County, North Carolina?
The price-to-rent ratio in Buncombe County, North Carolina is about 26.1, meaning it would take roughly 26.1 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 Buncombe County.
Are home prices or rent rising faster in Buncombe County, North Carolina?
Both home prices and rent are rising in Buncombe County, up about 10.9% and 6.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Buncombe County, North Carolina?
50.1% of households in Buncombe County, North Carolina own their home, lower than the North Carolina average of 58.3%.
What is the vacancy rate in Buncombe County, North Carolina?
The housing vacancy rate in Buncombe County, North Carolina is 24.3%, higher than the North Carolina average of 12.5%.
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