ZIP Code · NC

ZIP 28704

Part of Arden, NC

Pop. 24,138·Buncombe County·155th most expensive ZIP in North Carolina

Median rent (all units)

$1,537/mo

Year-over-Year

+0.7%

Month-over-Month

Stable

vs US Median

-$395

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 28704 · $1,537

More affordable than 70% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,370

1 BR

$1,600

2 BR

$1,750

3 BR

$2,130

4 BR+

$2,940

Research median

$1,750/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 28704 is 6.6% below its high of $1,646 in January 2023, at $1,537 as of September 2026.

Past year vs. the rest of North Carolina

Rent in ZIP 28704 changed +0.7% over the year to September 2026. Across the 190 North Carolina ZIP codes Zillow tracks, the typical change was +2.6%.

What a typical income covers

30% of the median household income ($81,096) is $2,027 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,750); a 3-bedroom is $2,130.

From Zillow's monthly rent index (ZORI) for ZIP 28704. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$18,444/yr

At $1,537/mo median

Location

CityArden

StateNC

CountyBuncombe County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+0.7% YoY, +0.0% MoM), not inventory.

Demographics

Who lives here

ZIP 28704 (Arden, NC) is majority owner-occupied, 40.7% of residents hold a bachelor's degree or higher.

Population

24,138

Median income

$81,096

Median age

40.3

Renters

40.7%

Age distribution

19.4%

22.4%

31.1%

17.1%

Under 1819.4%

18–3422.4%

35–5431.1%

55–6410.1%

65+17.1%

Gender

50.8%

49.2%

Male50.8%

Female49.2%

Race & ethnicity

71.8%

13.1%

White71.8%

Black7.5%

Hispanic13.1%

Asian2.1%

Other5.5%

Education (25+)

23.8%

27.6%

40.7%

No HS diploma7.8%

HS diploma23.8%

Some college27.6%

Bachelor's+40.7%

Housing tenure

59.3%

40.7%

Owner59.3%

Renter40.7%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2022 vs 2026

How ZIP 28704 in Arden, NC has changed in 5 years

Rent

$1,459 → $1,537

up 5.3%

Income

$71,026 → $81,096

up 14.2%

Population

21,608 → 24,138

up 11.7%

Renter share

38.4% → 40.7%

+2.3 pts

Bachelor's+

40.5% → 40.7%

+0.2 pts

Compared with 2022, rent in ZIP 28704 in Arden, NC has increased by $78 per month, settling near $1,537 after starting the period at $1,459. Local incomes tracked alongside that move, going from a median of $71,026 in 2021 to $81,096 more recently. Income growth outran rent by about 8.9 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 21,608 to 24,138 between 2021 and 2024, a 11.7% change. About 40.7% of households rent today, against 38.4% in 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 28704 in Arden, NC market of 2022.

Community

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About renting in ZIP 28704

Last updated: October 17, 2026

ZIP code 28704 covers Arden, NC. The median rent here is $1,537/mo as of October 2026. A 1-bedroom rents for a median of $1,600/mo. A 2-bedroom rents for a median of $1,750/mo.

At 23% of local median household income ($81,096/yr), ZIP 28704 ranks as affordable compared to the national benchmark of 30%. Rents have increased 0.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 28704?

To keep rent at or below 30% of gross income, you would need to earn at least $61,000/year (about $29/hour full-time) to afford the median rent of $1,537/mo in ZIP 28704. The local median household income is $81,096/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 28704?

Rent in ZIP 28704 has risen 0.7% over the past year as of September 2026. It sits 6.6% below its high of $1,646 in January 2023.

How does ZIP 28704 compare to other ZIPs in North Carolina?

ZIP 28704 is one of the more affordable among North Carolina ZIP codes for rent, ranking #155 of 230 at $1,537/mo. Over the year to September 2026, rent in ZIP 28704 changed +0.7%, against a typical +2.6% across the 190 North Carolina ZIP codes Zillow tracks.