Greenville, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Greenville, 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 Q1 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

Greenville Housing Market Information

With a population of 91,495, 36,446 total housing units (homes and apartments), and a median house value of $167,289, Greenville real estate and house prices are near the national average for all cities and towns.

Large apartment complexes or high rise apartments are the single most common housing type in Greenville, accounting for 44.17% of the city's housing units. Other types of housing that are prevalent in Greenville include single-family detached homes ( 33.79%), row houses and other attached homes ( 10.52%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.81%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

Greenville is dominated by renter-occupied one, two, or no bedrooms apartments. 68.49% of Greenville's dwellings are rentals.

There is a lot of housing in Greenville 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 Greenville built between 2000 and later ( 37.51%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.19%). There's also some housing in Greenville built before 1939 ( 1.48%).

Vacant housing appears to be an issue in Greenville. Fully 11.80% 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

Greenville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Greenville during the period has been just -0.53%, which is lower than 70% of US communities.

Over the last year, Greenville appreciation rates have trailed the rest of the nation. In the last twelve months, Greenville's appreciation rate has been 4.28%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Greenville were at 0.78%, which equates to an annual appreciation rate of 3.16%.

Relative to North Carolina, our data show that Greenville's latest annual appreciation rate is lower than 50% 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 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:
$167,289

Greenville, NC HOME PRICES

Value Range
> $1,066,599 0.8
$799,704 - $1,066,599 0.7
$533,233 - $799,703 1.1
$426,525 - $533,232 1.8
$319,837 - $426,524 5.3
$213,397 - $319,836 13.6
$106,441 - $213,396 44.5
$53,345 - $106,440 24.4
$0 - $53,344 7.8

High for NC
Average for Nation

Value Relative to Nation Value Relative to State
46.2423357664234 36.9565217391304

Number Of Homes And Apartments:
36,446

Greenville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2017 Q4 - 2018 Q1
Last 12 Months:
2017 Q1 - 2018 Q1
Last 2 Years:
2016 Q1 - 2018 Q1
Last 5 Years:
2013 Q1 - 2018 Q1
Last 10 Years:
2008 Q1 - 2018 Q1
Since 2000:
2000 Q1 - 2018 Q1
17.83% 0.90%
3
1
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$897 / per month

Homeownership Rate

Homeownership
Owners 31.51
Renters 68.49
Vacant 11.80

Housing Market Details

 

Age of Homes

AGE OF Greenville HOMES
2000 or Newer 37.5
1970 - 1999 47.8
1940 - 1969 13.2
1939 or Older 1.5

Types of Homes

TYPE OF Greenville HOMES
Single-Family 33.8
Townhomes 10.5
Small Apt. Buildings 9.8
Apt. Complexes 44.2
Mobile Homes 1.7
Other 0.0

Home Size

SIZE OF Greenville HOMES
No Bedroom 1.58
1 Bedroom 15.98
2 Bedrooms 34.03
3 Bedrooms 33.70
4 Bedrooms 12.97
5 or more bedrooms 1.73