Asheville, NC
Blue Ridge arts & culture - strong year-round demand
Asheville has built a national reputation as the cultural capital of the Southeast, with a thriving arts scene, James Beard-nominated restaurant row, and stunning Blue Ridge Parkway access. STR demand runs year-round - fall foliage rivals Vermont, summer hiking is strong, and the bachelorette/group travel market is enormous. City STR regulations require a permit and owner-occupancy in some zones.
Across 97 active STR-viable listings analyzed this month, Asheville shows a 2.3% median cap rate at a $750K median list price, 40% occupancy, and $221/night. That ranks #42 of 57 markets in STRROI's live ranking. At typical prices, cash flow is tight: most listings only pencil out with a large down payment, a below-list purchase, or above-market nightly rates.
Asheville real estate market right now
As of October 16, 2026, STRROI is tracking 97 homes for sale in Asheville that could run as short-term rentals, at a median list price of $750,000. The middle half are priced between $575K and $999K. That works out to a median of $452 per square foot for a typical 1,704 square foot home. Homes here have been on the market 106 days on average, close to the 101 days typical across the 56 markets in STRROI's ranking. 26 of them were listed in the last 30 days.
These numbers cover the homes for sale STRROI analyzes as potential short-term rentals in Asheville, mainly ZIP 28801. They are not every home sale in the area, so they can differ from MLS-wide figures. Month-by-month price history starts Oct 2026 and fills in as the market is re-checked each month.
What's for sale in Asheville right now
Of the 97 homes for sale we analyzed in Asheville, none project positive monthly cash flow with 20% down at a 7.5% rate, and none rate Buy or better on STRROI's 1-10 scale. 3-bedroom homes are the most common (33 for sale, median $799K). Returns are strongest in 4-bedroom homes at a 2.9% median cap rate, and weakest in 2-bedroom homes at 1.8%. By property type, multi-family lead at a 3.2% median cap rate across 10 listings.
- Weak: 7
- Avoid: 90
| Beds | For sale | Median price | Cap rate |
|---|---|---|---|
| 1 | 12 | $427K | 2.0% |
| 2 | 26 | $750K | 1.8% |
| 3 | 33 | $799K | 2.1% |
| 4 | 13 | $699K | 2.9% |
| 5+ | 11 | $899K | 2.9% |
| Type | For sale | Median price | Cap rate |
|---|---|---|---|
| Single-family homes | 41 | $685K | 2.7% |
| Condos | 40 | $792K | 1.5% |
| Multi-family | 10 | $825K | 3.2% |
| Townhouses | 6 | $850K | 1.8% |
Top-ranked homes for sale in Asheville this month
Scored 1-10 against real Airbnb comps. Addresses, photos and the full underwriting are in the app.
- #1Weak · 3/103 bd · 2 ba multi-family propertyZIP 28801 · listed at $500K
- Cap rate
- 5.0%
- Cash flow
- -$707/mo
- Nightly
- $165 at 40%
- #2Weak · 3/105 bd · 3 ba single-family homeZIP 28801 · listed at $575K
- Cap rate
- 4.2%
- Cash flow
- -$1,184/mo
- Nightly
- $337 at 40%
- #3Weak · 3/107 bd · 5 ba multi-family propertyZIP 28801 · listed at $899K
- Cap rate
- 4.2%
- Cash flow
- -$1,905/mo
- Nightly
- $259 at 40%
How Asheville compares
Asheville ranks #14 of 21 Southeast markets in STRROI's live ranking; St. Augustine leads the region with a median cap rate of 5.7%. Its 2.3% cap rate is 0.6 points below the 2.9% median across all 57 ranked markets, and its $750K typical list price is pricier than the Southeast median of $633K.
| Rank | Market | Cap rate | Typical price |
|---|---|---|---|
| #30 | Gatlinburg, TN | 2.7% | $575K |
| #33 | Pigeon Forge, TN | 2.6% | $450K |
| #40 | Destin, FL | 2.4% | $515K |
| #42 | Asheville, NC | 2.3% | $750K |
| #43 | Anna Maria Island, FL | 2.2% | $3.5M |
| #46 | Hilton Head Island, SC | 2.2% | $950K |
| #47 | Sarasota, FL | 2.1% | $1.2M |
Rank is national, by median cap rate across active STR-viable listings. Cash flow uses STRROI's default financing assumptions. See the full ranking
Estimated Annual Performance
* Estimates based on market averages. Individual property performance varies. Always run a full underwriting analysis.
Why Investors Choose Asheville
Asheville STR investing, answered
Is Asheville, NC a good short-term rental market?
Asheville is a Southeast STR market with a 2.3% median cap rate, 40% annual occupancy, and $221/night across STR-viable listings, based on 97 active listings. It ranks #42 of 57 markets by median cap rate in STRROI's live ranking. This month none of its 97 homes for sale rate Buy or better.
What is the average Airbnb occupancy rate in Asheville?
STR-viable properties in Asheville average about 40% occupancy across the year. Peak season is Sept - Nov (foliage), summer. Occupancy here reflects availability-adjusted booking performance, not raw calendar occupancy, so it represents what a full-time operated rental can realistically achieve.
How much do short-term rentals earn in Asheville?
At $221/night and 40% occupancy, a typical Asheville STR grosses roughly $32,427 per year before expenses, leaving an estimated $19,456 in net operating income. Across analyzed listings the median cap rate is 2.3%. Individual results depend on property, amenities, and management.
What types of properties work best for STR in Asheville?
Among homes for sale right now, 4-bedroom homes post the strongest median cap rate by size (2.9%), and multi-family lead by property type (3.2%). With guests, the best-performing STR types here are Cottage, Craftsman, Cabin, Bungalow. Matching the local guest profile and the amenities that drive bookings matters more than raw square footage.
How many homes for sale in Asheville cash flow as an Airbnb?
0 of 97 STR-viable listings (0%) project positive monthly cash flow after the mortgage, assuming 20% down at a 7.5% rate on a 30-year loan. The top-ranked listing this month is a 3-bedroom multi-family property in ZIP 28801 listed at $500K, projecting a 5.0% cap rate and -$707 a month.
What is the median home price in Asheville, NC right now?
The median list price of the 97 homes for sale STRROI tracks in Asheville is $750,000, and the middle half are priced between $575K and $999K. The median price per square foot is $452. These are homes that could run as short-term rentals, mainly ZIP 28801, not every sale in the area. Against a 2.3% median cap rate, that price level sets the return baseline you'd underwrite against.
How long do homes stay on the market in Asheville?
Homes for sale in Asheville have been listed 106 days on average, close to the 101 days typical across the 56 markets in STRROI's ranking. 26 of them were listed in the last 30 days.
Market averages, not guarantees. Cap rates, occupancy, and nightly rates are market-wide averages based on active STR listings and historical data. Individual property performance depends on location, amenities, management, and listing quality. Always run a full underwriting analysis before purchasing.Stats sourced from 97 active listings · last updated Oct 16, 2026
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