Asheville, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Asheville, NC Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Asheville Housing Market Information

With 91,902 people, 39,697 houses or apartments, and a median cost of homes of $307,844, Asheville real estate is some of the most expensive in North Carolina, although Asheville home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Asheville, accounting for 54.63% of the city's housing units. Other types of housing that are prevalent in Asheville include large apartment complexes or high rise apartments ( 25.61%), duplexes, homes converted to apartments or other small apartment buildings ( 12.18%), and a few mobile homes or trailers ( 3.99%).

People in Asheville primarily live in small (one, two or no bedroom) single-family detached homes. Asheville has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Asheville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Asheville built between 1940-1969 ( 26.14%). A lesser amount of the housing stock also hails from before 1939 ( 20.69%). There's also some housing in Asheville built between 2000 and later ( 18.36%).

Asheville Home Appreciation Rates

In the last 10 years, Asheville has experienced some of the highest home appreciation rates of any community in the nation. Asheville real estate appreciated 33.65% over the last ten years, which is an average annual home appreciation rate of 2.94%, putting Asheville in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Asheville definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Asheville's appreciation rate, at 4.65%, has been at or slightly above the national average. In the latest quarter, Asheville's appreciation rate has been -0.33%, which annualizes to a rate of -1.32%.

Notably, Asheville's appreciation rate in the latest quarter is one of the lowest in America.

Relative to North Carolina, our data show that Asheville's latest annual appreciation rate is lower than 50% of the other cities and towns in North Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Asheville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Asheville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Asheville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$307,844

Asheville, NC HOME PRICES

Value Range
> $1,271,000 1.9
$953,001 - $1,271,000 2.1
$636,001 - $953,000 6.5
$509,001 - $636,000 7.7
$382,001 - $509,000 14.0
$254,001 - $382,000 25.8
$127,001 - $254,000 34.4
$64,001 - $127,000 4.6
$0 - $64,000 3.1

Very High for NC
Very High for Nation

Value Relative to Nation Value Relative to State
18.4817518248175 10.1449275362319

Number Of Homes And Apartments:
39,697

Asheville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
131.20% 4.45%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,350 / per month

Homeownership Rate

Homeownership
Owners 49.36
Renters 50.64
Vacant 9.48

Housing Market Details

 

Age of Homes

AGE OF Asheville HOMES
2000 or Newer 18.4
1970 - 1999 34.8
1940 - 1969 26.1
1939 or Older 20.7

Types of Homes

TYPE OF Asheville HOMES
Single-Family 54.6
Townhomes 3.5
Small Apt. Buildings 12.2
Apt. Complexes 25.6
Mobile Homes 4.0
Other 0.1

Home Size

SIZE OF Asheville HOMES
No Bedroom 14.29
1 Bedroom 11.38
2 Bedrooms 29.63
3 Bedrooms 33.25
4 Bedrooms 9.14
5 or more bedrooms 2.31