What Is the Cost of Living in Asheville, North Carolina?

Asheville, North Carolina, is a distinctive city nestled in the Blue Ridge Mountains, celebrated for its vibrant arts scene, diverse culinary offerings, and access to natural beauty. Its unique appeal attracts a steady stream of new residents, creating a dynamic environment that influences the local economy. Understanding the financial aspects of living in this popular destination requires a detailed examination of various expenses. This article provides an overview of the typical costs associated with residing in Asheville.

Housing Expenses

Housing represents a significant portion of living expenses in Asheville, whether for renters or homeowners. The average monthly rent for apartments in Asheville varies, typically ranging from $1,475 to $2,099. A studio apartment averages around $1,247 to $1,559 per month, while a one-bedroom unit costs between $1,475 and $1,614 per month. A two-bedroom apartment can range from $1,717 to $1,916 monthly.

Purchasing a home in Asheville reflects the area’s desirability, with median home values typically falling between $481,286 and $525,000. The median listing price for homes can reach approximately $595,000. Homeowners also incur property taxes, which are assessed based on the property’s value and the local tax rate set by Buncombe County and the City of Asheville.

Utilities and Household Services

Utilities and household services contribute to the cost of living in Asheville. A combined monthly utility bill for an average apartment, including electricity, heating, cooling, water, and garbage, is around $187.00. Energy costs alone, primarily electricity, typically average between $156.27 and $223 per month. These figures can fluctuate seasonally, particularly with heating and cooling demands.

Water consumption is another utility expense, with residential users charged approximately $5.60 per 100 cubic feet (ccf) of water used, in addition to a base fee determined by meter size. Internet service averages about $106.50 per month for speeds of 60 Mbps or more. Trash and recycling collection are necessary household services.

Transportation and Food Costs

Transportation and food are substantial recurring expenses. Gasoline prices in Asheville generally hover around $2.80 to $2.90 per gallon. Many residents rely on personal vehicles due to the city’s layout and limited public transit, making fuel costs and car insurance significant considerations. Public transportation, provided by Asheville Redefines Transit (ART), offers a one-way bus fare of approximately $1.30.

Food expenses encompass both groceries and dining out. The average monthly grocery bill for an individual can be around $683. Dining at restaurants adds to food costs, with an average daily expenditure of about $58 per person for meals. A meal at an inexpensive restaurant typically costs around $24, while a fast-food combo meal is about $11. Coffee beverages average around $5.

Healthcare and Miscellaneous Expenses

Healthcare and miscellaneous costs factor into the overall cost of living. Healthcare services in Asheville are generally comparable to or slightly higher than the national average. A typical doctor’s visit costs $153.60, a dentist appointment approximately $113.11, and an optometrist visit about $141.00. These figures represent out-of-pocket expenses and do not include health insurance premiums, which vary widely based on coverage and individual health needs.

Beyond essential services, miscellaneous expenses cover a range of personal spending. Entertainment options, such as a movie ticket, cost around $12.44. Personal care services, like a standard haircut, typically range from $24 to $26.36. Fitness enthusiasts might budget approximately $30.83 per month for a gym membership.

Local Wage Landscape and Affordability

The local wage landscape in Asheville provides context for assessing the city’s affordability. The median household income in Asheville is approximately $67,221 annually. For individuals, the average annual salary is around $51,723, with the average per capita income reported at $41,952.

Considering all expense categories, the estimated monthly cost of living for a single person, excluding rent, is approximately $1,268.5. For a single adult, a salary of around $57,816 per year is suggested to cover housing and other expenses. Overall, the cost of living in Asheville is about 3% to 4% higher than the national average. For a renter, total estimated monthly household expenses, including rent, can be around $4,818, while a homeowner might anticipate approximately $8,837 per month.