Asheville Rent 98 Percent Higher than Other Cities in NC

Local News -- March 23, 2023: Asheville, North Carolina, continues to be one of the most expensive cities to live in,
the state.  A recent study finds 

it is more expensive than 98% of other cities in the state for renters.  The National Low Income Housing Coalition
conducted a study that compared Fair Market Rents across North Carolina and found that Asheville had the highest
average rent for a one-bedroom apartment, at $1,319.3 as of October 2022.

This news comes at a time when Asheville is facing a housing crisis, with many residents struggling to afford housing
due to rising costs and limited availability. The study also found that since the start of the COVID-19 pandemic in March
2020, rents in Asheville had risen by 41.7%. This increase has contributed to a rise in homelessness in the city, with the number of people experiencing homelessness up 21% since 2021 to 637. Twice as many people are now unsheltered compared to the previous year.

The National Low Income Housing Coalition's study estimates that in order to make rent for a two-bedroom unit while paying no more than 30% of their income toward housing, a person would need to earn at least $26.50 per hour. However, the median hourly wage in the City of Asheville in 2022 was found to be $15.87.

Asheville's leaders have recognized the severity of the situation and are working to address the issue. The city recently received a $1.1 million grant to support affordable housing initiatives, and has plans to create more affordable housing units in the coming years.

Despite these efforts, the situation remains urgent, and many Asheville residents are struggling to find affordable housing. The National Low Income Housing Coalition's study underscores the need for continued action and investment to address the city's housing crisis and support its most vulnerable residents.

As Asheville prepares for its 2023 point-in-time count, which offers a single night snapshot of homelessness in Asheville and Buncombe County, the city must also confront the challenge of addressing the rising costs of living. The study highlights the importance of finding ways to create affordable housing options for residents and ensure that all members of the community can afford to live and thrive in the city.

WNCtimes by Marjorie Farrington