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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 Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (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 299,035 people, 118,126 houses or apartments, and a median cost of homes of $223,624, 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 53.26% of the city's housing units. Other types of housing that are prevalent in Greensboro include large apartment complexes or high rise apartments ( 30.97%), duplexes, homes converted to apartments or other small apartment buildings ( 7.51%), and a few row houses and other attached homes ( 7.02%).

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 46.72% owning and 53.28% 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 ( 25.05%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.15%). There's also some housing in Greensboro built before 1939 ( 5.39%).

Greensboro Home Appreciation Rates

Appreciation rates for homes in Greensboro have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 70.86%, which ranks in the top 50% nationwide. This equates to an annual average Greensboro house appreciation rate of 5.50%.

Appreciation rates are so strong in Greensboro that despite a nationwide downturn in the housing market, Greensboro real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Greensboro appreciation rates continue to be some of the highest in America, at 18.90%, which is higher than appreciation rates in 79.38% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Greensboro. Greensboro appreciation rates in the latest quarter were at 4.93%, which equates to an annual appreciation rate of 21.24%.

Importantly, this makes Greensboro 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 North Carolina, our data show that Greensboro's latest annual appreciation rate is lower than 70% 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

 

Median Home Value:
$223,624

Greensboro, NC HOME PRICES

> $1,423,000
$1,067,001 - $1,423,000
$711,001 - $1,067,000
$569,001 - $711,000
$427,001 - $569,000
$285,001 - $427,000
$142,001 - $285,000
$71,001 - $142,000
$0 - $71,000
0.7%
0.7%
0.6%
0.6%
3.0%
3.0%
3.6%
3.6%
7.5%
7.5%
16.1%
16.1%
41.5%
41.5%
22.3%
22.3%
4.6%
4.6%
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:
118,126

Greensboro Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
75.99% 2.54%
3
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,646 / per month

Homeownership Rate

Owners
Renters
Vacant
46.7%
46.7%
53.3%
53.3%
9.9%
9.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
21.2%
21.2%
48.4%
48.4%
25.0%
25.0%
5.4%
5.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
53.3%
53.3%
7.0%
7.0%
7.5%
7.5%
31.0%
31.0%
1.2%
1.2%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.3%
4.3%
9.9%
9.9%
30.9%
30.9%
37.8%
37.8%
14.2%
14.2%
2.8%
2.8%
0.0% 100.0%
% OF HOMES