Greensboro, NC Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Greensboro, NC Housing Market Trends

With 296,710 people, 116,309 houses or apartments, and a median cost of homes of $176,295, Greensboro real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Greensboro, accounting for 53.82% of the city's housing units. Other types of housing that are prevalent in Greensboro include large apartment complexes or high rise apartments ( 31.35%), duplexes, homes converted to apartments or other small apartment buildings ( 7.00%), and a few row houses and other attached homes ( 6.37%).

The most prevalent building size and type in Greensboro are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.67% owning and 52.33% renting.

There is a lot of housing in Greensboro built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Greensboro built between 1940-1969 ( 25.23%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.28%). There's also some housing in Greensboro built before 1939 ( 5.55%).

Vacant housing appears to be an issue in Greensboro. Fully 11.43% of the housing stock is classified as vacant. Left unchecked, vacant Greensboro homes and apartments can be a drag on the real estate market, holding Greensboro 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.

Greensboro Home Appreciation Rates

Real estate appreciation rates in Greensboro's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.25% during the period.

NeighborhoodScout's data show that during the latest twelve months, Greensboro's appreciation rate, at 5.54%, has been at or slightly above the national average. In the latest quarter, Greensboro's appreciation rate has been 1.57%, which annualizes to a rate of 6.42%.

Notably, Greensboro's appreciation rate in the latest quarter is one of the lowest in America.

Relative to North Carolina, our data show that Greensboro's latest annual appreciation rate is lower than 80% of the other cities and towns in North Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Greensboro differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Greensboro - 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 Greensboro real estate investment or home purchase decisions.

Average Home Values

 
info

Median Home Value:
$176,295

Greensboro, NC HOME PRICES

> $1,181,000
0.9%
0.9%
$886,001 - $1,181,000
0.8%
0.8%
$591,001 - $886,000
2.6%
2.6%
$473,001 - $591,000
3.1%
3.1%
$354,001 - $473,000
6.4%
6.4%
$236,001 - $354,000
15.4%
15.4%
$118,001 - $236,000
41.6%
41.6%
$59,001 - $118,000
24.2%
24.2%
$0 - $59,000
5.0%
5.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Average for NC

Value Relative To Nation

Number Of Homes And Apartments:
116,309

Greensboro Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
36.35% 1.49%
2
2
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,147 / per month

Homeownership Rate

Owners
47.7%
47.7%
Renters
52.3%
52.3%
Vacant
11.4%
11.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
20.3%
20.3%
1970 - 1999
48.9%
48.9%
1940 - 1969
25.2%
25.2%
1939 or Older
5.5%
5.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
53.8%
53.8%
Townhomes
6.4%
6.4%
Small Apt. Buildings
7.0%
7.0%
Apt. Complexes
31.4%
31.4%
Mobile Homes
1.5%
1.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.2%
4.2%
1 Bedroom
9.9%
9.9%
2 Bedrooms
31.6%
31.6%
3 Bedrooms
37.3%
37.3%
4 Bedrooms
14.0%
14.0%
5 or more bedrooms
2.9%
2.9%
0.0% 100.0%
% OF HOMES