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 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

Greenville Housing Market Information

With a population of 93,137, 36,865 total housing units (homes and apartments), and a median house value of $198,596, 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 43.27% of the city's housing units. Other types of housing that are prevalent in Greenville include single-family detached homes ( 34.67%), row houses and other attached homes ( 12.98%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.81%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Greenville is dominated by renter-occupied one, two, or no bedrooms apartments. 68.78% 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 ( 38.09%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.63%). There's also some housing in Greenville built before 1939 ( 1.72%).

Vacant housing appears to be an issue in Greenville. Fully 13.85% 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 1.20%, which is lower than 80% of US communities.

Appreciation rates are so strong in Greenville that despite a nationwide downturn in the housing market, Greenville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Greenville appreciation rates continue to be some of the highest in America, at 6.92%, which is higher than appreciation rates in 74.99% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Greenville. Greenville appreciation rates in the latest quarter were at 1.43%, which equates to an annual appreciation rate of 5.86%.

Relative to North Carolina, our data show that Greenville's latest annual appreciation rate is higher than 60% 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:
$198,596

Greenville, NC HOME PRICES

Value Range
> $1,146,000 0.6
$860,001 - $1,146,000 0.6
$573,001 - $860,000 1.7
$458,001 - $573,000 2.3
$344,001 - $458,000 6.1
$229,001 - $344,000 16.9
$115,001 - $229,000 43.9
$57,001 - $115,000 19.2
$0 - $57,000 8.7

High for NC
Average for Nation

Value Relative to Nation Value Relative to State
41.3605839416058 33.5144927536232

Number Of Homes And Apartments:
36,865

Greenville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
31.55% 1.36%
2
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,044 / per month

Homeownership Rate

Homeownership
Owners 31.22
Renters 68.78
Vacant 13.85

Housing Market Details

 

Age of Homes

AGE OF Greenville HOMES
2000 or Newer 38.1
1970 - 1999 45.6
1940 - 1969 14.6
1939 or Older 1.7

Types of Homes

TYPE OF Greenville HOMES
Single-Family 34.7
Townhomes 13.0
Small Apt. Buildings 7.8
Apt. Complexes 43.3
Mobile Homes 1.3
Other 0.0

Home Size

SIZE OF Greenville HOMES
No Bedroom 1.91
1 Bedroom 17.88
2 Bedrooms 32.11
3 Bedrooms 33.74
4 Bedrooms 12.50
5 or more bedrooms 1.86