Buncombe County, North Carolina Housing Market
In Buncombe County, North Carolina, the median home value is $391,800, with a median monthly rent of $1,362. This places Buncombe County at #310 nationally out of 3134 counties by median home value, and #7 within North Carolina.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,157
- Establishments: 12,516
- BLS QCEW, 2025
Housing Supply
- Single-family: 992
- Multi-family: 1,036
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 117,971 (avg $91,430)
- Outflow: 110,125 (avg $90,831)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Buncombe County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 28753 | 236.1 | -10.67% | 2025 |
| 2 | 28759 | 268.0 | -5.72% | 2025 |
| 3 | 28704 | 287.1 | -5.08% | 2025 |
| 4 | 28732 | 278.4 | -4.17% | 2025 |
| 5 | 28748 | 303.0 | +9.55% | 2025 |
| 6 | 28804 | 361.2 | +3.69% | 2025 |
| 7 | 28778 | 329.7 | -1.42% | 2025 |
| 8 | 28715 | 303.4 | +4.64% | 2025 |
| 9 | 28801 | 447.4 | -3.47% | 2025 |
| 10 | 28792 | 297.2 | +1.29% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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| Metric | Buncombe County | North Carolina Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $391,800 | $235,312 | $227,706 |
| Median Gross Rent | $1,362 | $976 | $968 |
| Owner Occupancy Rate | 66.2% | 71.8% | 73.3% |
| Price/Rent Ratio | 24.0 | 19.8 | 18.7 |
Market Analysis
The median home value in Buncombe County is 66.5% above the North Carolina state average and 72.1% above the U.S. national average. The median rent of $1,362/month is 39.5% above the state average.
With a price-to-rent ratio of 24.0, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Buncombe County has an owner-occupancy rate of 66.2%, compared to 71.8% in North Carolina and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Merced County | California | $391,800 | $1,343 |
| Custer County | Colorado | $392,100 | $1,069 |
| Manatee County | Florida | $391,400 | $1,671 |
| DuPage County | Illinois | $391,400 | $1,688 |
| Johnson County | Kansas | $391,200 | $1,434 |
Other Counties in North Carolina
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Durham County | $389,400 | $1,508 | 55.5% |
| New Hanover County | $387,800 | $1,417 | 61.4% |
| Currituck County | $378,800 | $1,162 | 87.3% |
| Mecklenburg County | $406,800 | $1,627 | 55.1% |
| Transylvania County | $373,600 | $967 | 74.7% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).