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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Greensboro Housing Market Information

With 294,722 people, 115,501 houses or apartments, and a median cost of homes of $168,088, 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 53.85% of the city's housing units. Other types of housing that are prevalent in Greensboro include large apartment complexes or high rise apartments ( 31.45%), duplexes, homes converted to apartments or other small apartment buildings ( 7.04%), and a few row houses and other attached homes ( 6.30%).

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 47.89% owning and 52.11% 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 ( 24.91%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.96%). There's also some housing in Greensboro built before 1939 ( 5.37%).

Vacant housing appears to be an issue in Greensboro. Fully 11.30% 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 1.91% during the period.

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 3.92%, 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 1.65%, which equates to an annual appreciation rate of 6.76%.

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 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

 

Median Home Value:
$168,088

Greensboro, NC HOME PRICES

Value Range
> $1,182,000 0.8
$887,001 - $1,182,000 0.9
$591,001 - $887,000 2.4
$473,001 - $591,000 3.1
$355,001 - $473,000 5.8
$236,001 - $355,000 14.4
$118,001 - $236,000 42.5
$59,001 - $118,000 25.2
$0 - $59,000 4.9

Average for NC
Average for Nation

Value Relative to Nation Value Relative to State
53.1153284671533 47.1014492753623

Number Of Homes And Apartments:
115,501

Greensboro Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
31.41% 1.34%
2
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,137 / per month

Homeownership Rate

Homeownership
Owners 47.89
Renters 52.11
Vacant 11.30

Housing Market Details

 

Age of Homes

AGE OF Greensboro HOMES
2000 or Newer 19.0
1970 - 1999 50.8
1940 - 1969 24.9
1939 or Older 5.4

Types of Homes

TYPE OF Greensboro HOMES
Single-Family 53.9
Townhomes 6.3
Small Apt. Buildings 7.0
Apt. Complexes 31.4
Mobile Homes 1.3
Other 0.0

Home Size

SIZE OF Greensboro HOMES
No Bedroom 3.34
1 Bedroom 10.84
2 Bedrooms 31.70
3 Bedrooms 37.20
4 Bedrooms 14.10
5 or more bedrooms 2.82