Mills River, NC housing market
The typical Mills River home is worth about $524,000, down 2.9% in a year, 57% above the North Carolina typical home. Homes typically sell in 51 days, below asking.
Home values, sales, trends and how Mills River compares with the towns next door — updated as new data is published.
Mills River at a glance
A balanced market
About 5.7 months of supply: neither buyers nor sellers have a clear edge.
Typical home value, 2016–2026
Show as a table
| January | Mills River | North Carolina |
|---|---|---|
| 2017 | $296,000 | $179,000 |
| 2018 | $316,000 | $190,000 |
| 2019 | $333,000 | $203,000 |
| 2020 | $347,000 | $215,000 |
| 2021 | $383,000 | $242,000 |
| 2022 | $456,000 | $287,000 |
| 2023 | $507,000 | $320,000 |
| 2024 | $524,000 | $332,000 |
| 2025 | $548,000 | $338,000 |
| 2026 | $541,000 | $336,000 |
| August 2026 | $524,000 | $335,000 |
Mills River and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Mills River | $524K | −2.9% | $1,800 | — | $105,398 |
| Etowah | $419K | −0.8% | $1,590 | — | $72,596 |
| Horse Shoe | $504K | −1.8% | $1,420 | — | $64,096 |
| Fletcher | $448K | −3.2% | $1,590 | — | $75,272 |
| Asheville | $449K | −5% | $1,750 | 743 | $71,102 |
5 years of income
The typical Mills River home costs about 5 years of the town's median household income, more than across North Carolina (4.6 years).
How Mills River ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,800
HUD's Fair Market Rent for a two-bedroom in Mills River is $1,800 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Mills River pay a median of $1,551, so moving in tends to cost more than staying put. A two-bedroom takes about 20% of the town's median household income.
Studio $1,410 · 4 bedrooms $3,030
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (28732, 28759; Asheville, NC MSA), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.