Greenville, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Greenville Neighborhoods Since 2000




Greenville, MI Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Greenville Housing Market Information

With 8,444 people, 3,299 houses or apartments, and a median cost of homes of $131,135, house prices in Greenville are solidly below the national average.

Single-family detached homes are the single most common housing type in Greenville, accounting for 61.27% of the city's housing units. Other types of housing that are prevalent in Greenville include large apartment complexes or high rise apartments ( 17.71%), duplexes, homes converted to apartments or other small apartment buildings ( 10.63%), and a few mobile homes or trailers ( 6.28%).

People in Greenville primarily live in small (one, two or no bedroom) single-family detached homes. Greenville has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Greenville's housing was primarily built during this period, from the '40s through the '60s. A full 34.54% of the city's housing hails from this era. Other housing ages represented in Greenville include homes built between 1970-1999 ( 33.55%) and housing constructed before 1939 ( 21.52%). There's also some housing in Greenville built between 2000 and later ( 10.39%).

Vacant housing appears to be an issue in Greenville. Fully 14.07% of the housing stock is classified as vacant. Left unchecked, vacant Greenville homes and apartments can be a drag on the real estate market, holding Greenville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Greenville Home Appreciation Rates

Real estate appreciation rates in Greenville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.01% during the period.

Appreciation rates are so strong in Greenville that despite a nationwide downturn in the housing market, Greenville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Greenville appreciation rates continue to be some of the highest in America, at 9.06%, which is higher than appreciation rates in 90.95% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Greenville. Greenville appreciation rates in the latest quarter were at 3.68%, which equates to an annual appreciation rate of 15.57%.

Importantly, this makes Greenville one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Michigan, our data show that Greenville's latest annual appreciation rate is higher than 80% of the other cities and towns in Michigan.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Greenville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Greenville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Greenville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$131,135

Greenville, MI HOME PRICES

Value Range
> $1,266,000 0.1
$949,001 - $1,266,000 0.1
$633,001 - $949,000 0.5
$506,001 - $633,000 1.1
$380,001 - $506,000 2.1
$253,001 - $380,000 7.7
$127,001 - $253,000 33.9
$63,001 - $127,000 40.7
$0 - $63,000 13.8

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
59.2698933552092 48.7179487179487

Number Of Homes And Apartments:
3,299

Greenville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
13.61% 0.74% 7 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,001 / per month

Homeownership Rate

Homeownership
Owners 55.97
Renters 44.03
Vacant 14.07

Housing Market Details

 

Age of Homes

AGE OF Greenville HOMES
2000 or Newer 10.4
1970 - 1999 33.6
1940 - 1969 34.5
1939 or Older 21.5

Types of Homes

TYPE OF Greenville HOMES
Single-Family 61.3
Townhomes 4.1
Small Apt. Buildings 10.6
Apt. Complexes 17.7
Mobile Homes 6.3
Other 0.0

Home Size

SIZE OF Greenville HOMES
No Bedroom 1.93
1 Bedroom 12.66
2 Bedrooms 35.97
3 Bedrooms 36.81
4 Bedrooms 11.70
5 or more bedrooms 0.94