Cost of Living in Asheville, NC

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An Overview of Cost of Living in Asheville, NC

The cost of living in Asheville affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Asheville is 116, which is 16% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Housing costs are a very significant part of the Asheville cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 46.4% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

What Do Locals Say About the Cost of Living in Asheville?

The most insightful perspective on a city comes from its residents. We recently surveyed 48 locals to gauge their perception of the cost of living in Asheville. The feedback revealed that 19% of respondents found the cost of living to be reasonable, with prices on the decline, while 81% regarded it as notably expensive with prices that continue to rise.

Is Asheville Affordable?

Is Asheville affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Asheville, for instance, where the median home price falls 60.8% higher than the national average, and monthly rent rates are 12.8% higher than usual. Additionally, median income levels contribute to the equation, with Asheville flaunting a median household income of $79,235, 2.6% lower than the national norm.

What Factors can Influence the Cost of Living in Asheville?

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Asheville, the groceries index is 0.4% lower than the national average.

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Asheville, the baseline sales tax rate begins at 4.75%, and income tax rates start at 4.75%.

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Where is the Data From?

The Asheville cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

Most Affordable Places to Live in and Around Asheville

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Median Income & Debt-To-Income Ratio

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Asheville, NC, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Asheville homeowners, is $107,992. This would allow for a maximum of $2,520 per month to be spent on housing costs. For renters, the median monthly income is $55,412 which would result in a maximum of $1,293 to be spent on rental costs.

North Carolina Sales Tax

North Carolina Income Tax

Goods & Services

Groceries

Health Care

Housing

Transportation

Utilities

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

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Date & Last Updated: This data reflects 2025 and was released from C2ER in January, 2026; this is the most current data available.