Español

Este sitio también está en español. Leer en español

City · 7,281 residents · Henderson County, North Carolina

Mills River , North Carolina

In Mills River, a typical home is worth $436,100 and typical rent is $1,551 a month. Compared with all of Henderson County, typical household income is 55% higher, typical rent is 31% higher, and the share of households that own their home is 11 points higher.

WhatsApp

  • Typical home value

    $436,100

    24% above the county

    51% above North Carolina

    • Mills River
    • Henderson
    • North Carolina

  • Typical rent

    $1,551a month

    31% above the county

    26% above North Carolina

    • Mills River
    • Henderson
    • North Carolina

  • Typical household income

    $105,398a year

    55% above the county

    46% above North Carolina

    • Mills River
    • Henderson
    • North Carolina

  • Households that own their home

    86%

    11 points above the county

    19 points above North Carolina

    • Mills River
    • Henderson
    • North Carolina

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$527,878
3.1% less than 12 months ago
Typical rent
$2,988 a month

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Mills River is in Henderson County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Henderson County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Mills River apart

What this place has that others do not, from public data, most unusual first.

  1. The typical household income in Mills River is $105,398, 55% more than in Henderson County as a whole ($68,187).

  2. Nearby, in East Flat Rock, the typical home value is $245,900: 44% less than in Mills River ($436,100).

  3. Nearby, in Brevard, the typical rent is $979: 37% less than in Mills River ($1,551).

  4. The typical rent in Mills River is $1,551 a month, 31% more than in Henderson County as a whole ($1,187).

  5. The typical home in Mills River is worth $436,100, 24% more than in Henderson County as a whole ($351,400).

  6. 86% of households in Mills River own their home, against 75% in Henderson County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Mills River

What homes there are in Mills River, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Mills River, 8 in 10 homes are single-family detached houses; in Henderson County, 7.

Year built

Homes in Mills River are newer: the typical year built is 1997; in Henderson County, 1990.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,907 a month

Henderson County: $1,608 a month

Without a mortgage

$577 a month

Henderson County: $482 a month

Owners with a mortgage

58%

Henderson County: 54%

Owning costs more in Mills River: with a mortgage, the typical cost is $1,907 a month; in Henderson County, $1,608. Without one, $577.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Mills River rose 69%; in Henderson County, it rose 64%.

Rents in Mills River rose faster than in Henderson County: 62% since 2015–2019, against 39%.

Here income did not keep up with housing: it rose 58%, while home values changed +69% and rent +62%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureMills RiverHenderson CountyNorth CarolinaUnited States
Rental vacancy Unreliable estimate6.7%7.1%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate1.3%0.9%
More than one person per room Unreliable estimate1.4%2.2%3.4%
People per household 2.662.292.442.53
Drive alone 76%76%72%69%
Carpool 10%11%9%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike Unreliable estimate1%2%3%
Work from home 12%10%16%15%
Other means Unreliable estimate1%1%2%
Typical commute 20 to 29 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

On average, a household in Mills River has 2.66 people, more than in Henderson County (2.29).

To get to work, 76% of workers in Mills River drive alone; in Henderson County, 76%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Mills River?

A typical home costs more than the typical income allows

We start with a typical home in Mills River, worth $436,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 39% of the typical household income in Mills River, which is $105,398 a year. For that payment to be 28% of income, a household would need to earn about $148,161 a year.

The calculator's FHA and conventional loan limits are those of all of Henderson County.

Your numbers

Local data
$

Starts at the typical home value in Mills River. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $15,264 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$3,457

at 7.18% · 30 years

Loan amount
$428,201
Total interest
$616,080
Paid off in
November 2056

Includes $7,365 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,459 a month

  • Tight

    $2,459 to $3,162 a month

  • Hard

    more than $3,162 a month

    Your payment · 39%

Compared with the typical household income in Mills River ($105,398 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,457
Principal & interest$2,901
Property tax$182
Home insurance$182
FHA mortgage insurance (MIP)$193

You need at least $15,264 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Mills River and Henderson County

Mills River is in Henderson County, North Carolina. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Mills River's own numbers

Typical home value
$436,100
Typical monthly rent
$1,551
Typical yearly household income
$105,398
Households that own their home
86%
Effective property tax rate
0.5%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Henderson County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,866
Price change over 5 years (FHFA)
+58%
Homes in a high flood-risk zone
1.1%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Henderson County.

Everything about Henderson County

Buying

Buying a home in Mills River

A typical home in Mills River is worth $436,100: 24% above the county and 51% above North Carolina. With the typical household income in Mills River ($105,398 a year), a typical home costs 4.1 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Mills River 4.1 years
  • Henderson 5.2 years
  • North Carolina 4.0 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Henderson County

According to FHFA’s house price index, home prices in Henderson County rose 111% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Henderson County.

Period County North Carolina U.S.
Last year (2025) −0.0% +2.5% +2.9%
5 years (2020–2025) +58% +60% +47%
10 years (2015–2025) +111% +107% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Mills River next to Henderson County, North Carolina and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Mills River $436,100
  • Henderson $351,400
  • North Carolina $288,900
  • United States $332,700
Typical monthly rent
  • Mills River $1,551
  • Henderson $1,187
  • North Carolina $1,228
  • United States $1,413
Typical yearly household income
  • Mills River $105,398
  • Henderson $68,187
  • North Carolina $72,388
  • United States $80,734
See the full table
Mills River next to Henderson County and North Carolina
Measure Mills River Henderson County North Carolina U.S.
Typical home value $436,100 $351,400 $288,900 $332,700
Typical monthly rent $1,551 $1,187 $1,228 $1,413
Typical yearly household income $105,398 $68,187 $72,388 $80,734
Households that own their home 86% 75% 67% 65%
Typical yearly property tax $2,199 $1,810 $1,896 $3,119
Effective property tax rate 0.5% 0.52% 0.66% 0.94%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Henderson County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Mills River

For a typical $436,100 home in Mills River, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Mills River's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $3,457a month

    Least cash to close
    Down payment
    $15,264
    Cash to close
    $28,347
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $193

  • Conventional, 5% down $3,377a month

    Down payment
    $21,805
    Cash to close
    $34,888
    Rate
    7.18%
    Mortgage insurance
    PMI · $207

  • Conventional, 20% down, no PMI $2,727a month

    Down payment
    $87,220
    Cash to close
    $100,303
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $3,130a month

    Down payment
    $65,415
    Cash to close
    $78,498
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Mills River and for Henderson County.

Property tax

Effective rate in Mills River

0.5%of the home’s value each year

$2,199 a year for the typical owner in Mills River.

  • Mills River 0.5%
  • Henderson 0.52%
  • North Carolina 0.66%

What North Carolina publishes Elderly or Disabled Homestead Exclusion (North Carolina General Assembly (statute))

Exemptions and deadlines in North Carolina

Flood risk in Henderson County

FEMA does not publish these numbers by city: they are for all of Henderson County.

Homes in the high-risk zone
1.1%
562
Of those, with NFIP insurance
44%
County North Carolina U.S.
Homes in the high-risk zone 1.1% 2.8% 3.5%
Of those, with NFIP insurance 44% 53% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Mills River

Typical rent in Mills River is $1,551 a month: 31% above the county.

HUD publishes a fair market rent for all of Henderson County, by unit size. To pay the 2-bedroom one ($1,866 a month) without spending more than 30% of your income, you would need to earn $35.88 an hour working full time.

HUD fair market rent for all of Henderson County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,482 $28.50 $59,280
1 bedroom $1,714 $32.96 $68,560
2 bedrooms $1,866 $35.88 $74,640
3 bedrooms $2,223 $42.75 $88,920
4 bedrooms $3,109 $59.79 $124,360

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Mills River

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Mills River is in ZIP code 28759.

For 2 bedrooms it is $2,270: $404 more than the fair market rent for Henderson County ($1,866).

  • 28759 $2,270$2,700

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Mills River when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Mills River

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Henderson County. The nearest ones are below; many serve by phone or online.

Two women and a girl laugh together at the bus stop.

HUD counseling is free or low-cost

Assistance programs in Mills River

No down payment, repair or rent-help program on our list is for Mills River or Henderson County. The ones below are statewide in North Carolina: they work in Mills River the same as in the rest of the state.

Which programs do I qualify for? All programs in North Carolina

  • NC Home Advantage Mortgage

    Statewide in North Carolina

    NCHFA fixed-rate mortgage with down payment assistance, for first-time buyers and for people who have owned a home before, in North Carolina. Offered by North Carolina Housing Finance Agency (NCHFA).

    Forgivable

    See the program Official page

  • NC 1st Home Advantage Down Payment

    Statewide in North Carolina

    A fixed amount of NCHFA down payment assistance for first-time buyers and veterans in North Carolina. Offered by North Carolina Housing Finance Agency (NCHFA).

    Type not stated

    See the program Official page

  • Community Partners Loan Pool (CPLP)

    Statewide in North Carolina

    NCHFA interest-free loan with deferred payments of up to 25% of the price (maximum $50,000) for the down payment of low- and moderate-income buyers in North Carolina; you apply through a member organization. Offered by North Carolina Housing Finance Agency (NCHFA).

    Deferred

    See the program Official page

Housing counselors near Mills River

The HUD-approved agencies closest to the center of Mills River, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Consumer Credit Counseling Service of Wnc, Inc. - DBA - Ontrack Financial Education & Counseling

    50 S French Broad Ave, Asheville · 15 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 4 more
    (828) 255-5166

  • Mountain Projects, Inc.

    2177 Asheville Rd, Waynesville · 23 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 6 more
    (828) 452-1447

  • Cleveland County Community Development Corporation

    823 W Warren St, Shelby · 59 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 11 more
    (704) 480-7701

All counseling agencies in North Carolina

Help in Spanish near Mills River

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Mills River

In HUD’s record, no housing authority with an office in Henderson County is named for Mills River or Henderson County.

2 other authorities have an office in Henderson County: see the list Source: HUD

Cities

Other cities in Henderson County

These cities are also in Henderson County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Henderson County Housing in North Carolina

Nearby cities

The cities closest to Mills River, with the typical home value.

Neighboring counties

If Henderson County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Mills River.

All guides
Two girls write and draw together at the living-room table.

Questions

Housing questions about Mills River

Short answers with the numbers for Mills River and all of Henderson County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Mills River?

The typical home value in Mills River is $436,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Henderson County it is $351,400.

How much does it cost to rent in Mills River?

Typical rent in Mills River is $1,551 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Henderson County is $1,866.

What is the FHA loan limit in Mills River?

Mills River uses the FHA limit for all of Henderson County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Mills River?

The typical homeowner in Mills River pays $2,199 a year, according to the U.S. Census Bureau. That is 0.5% of the home’s value; in Henderson County, the rate is 0.52%.

Where can I find free help to buy or rent in Mills River?

We found no HUD-approved counseling agencies with an office in Henderson County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).