Greensboro, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Greensboro, NC 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 Q3 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

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

Greensboro Housing Market Information

With 290,222 people, 114,362 houses or apartments, and a median cost of homes of $153,926, 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 53.70% of the city's housing units. Other types of housing that are prevalent in Greensboro include large apartment complexes or high rise apartments ( 31.70%), duplexes, homes converted to apartments or other small apartment buildings ( 7.24%), and a few row houses and other attached homes ( 6.20%).

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 47.84% owning and 52.16% 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 ( 25.41%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.15%). There's also some housing in Greensboro built before 1939 ( 5.58%).

Vacant housing appears to be an issue in Greensboro. Fully 11.05% 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

Greensboro's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Greensboro during the period has been just 0.37%, which is lower than 70% of US communities.

Over the last year, Greensboro appreciation rates have trailed the rest of the nation. In the last twelve months, Greensboro's appreciation rate has been 2.37%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Greensboro were at 2.37%, which equates to an annual appreciation rate of 9.81%.

Relative to North Carolina, our data show that Greensboro's latest annual appreciation rate is lower than 90% 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:
$153,926

Greensboro, NC HOME PRICES

Value Range
> $1,135,000 0.7
$851,001 - $1,135,000 0.8
$567,001 - $851,000 2.1
$454,001 - $567,000 2.7
$341,001 - $454,000 5.6
$227,001 - $341,000 14.7
$113,001 - $227,000 42.2
$57,001 - $113,000 26.1
$0 - $57,000 5.0

Average for NC
Average for Nation

Value Relative to Nation Value Relative to State
54.251094890511 47.3731884057971

Number Of Homes And Apartments:
114,362

Greensboro Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2018 Q2 - 2018 Q3
Last 12 Months:
2017 Q3 - 2018 Q3
Last 2 Years:
2016 Q3 - 2018 Q3
Last 5 Years:
2013 Q3 - 2018 Q3
Last 10 Years:
2008 Q3 - 2018 Q3
Since 2000:
2000 Q1 - 2018 Q3
19.07% 0.94%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,126 / per month

Homeownership Rate

Homeownership
Owners 47.84
Renters 52.16
Vacant 11.05

Housing Market Details

 

Age of Homes

AGE OF Greensboro HOMES
2000 or Newer 17.2
1970 - 1999 51.9
1940 - 1969 25.4
1939 or Older 5.6

Types of Homes

TYPE OF Greensboro HOMES
Single-Family 53.7
Townhomes 6.2
Small Apt. Buildings 7.2
Apt. Complexes 31.7
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Greensboro HOMES
No Bedroom 2.47
1 Bedroom 11.77
2 Bedrooms 32.74
3 Bedrooms 36.73
4 Bedrooms 13.63
5 or more bedrooms 2.65