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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 1,744, 772 total housing units (homes and apartments), and a median house value of $154,052, Greenwich 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 Greenwich, accounting for 62.40% of the village's housing units. Other types of housing that are prevalent in Greenwich include duplexes, homes converted to apartments or other small apartment buildings ( 26.15%), large apartment complexes or high rise apartments ( 8.64%), and a few row houses and other attached homes ( 2.47%).
The most prevalent building size and type in Greenwich are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 54.26% owning and 45.74% renting.
The housing in Greenwich was primarily built before 1939 ( 74.75%), making the housing stock in Greenwich some of the oldest overall in America, although there is a range of ages of homes in Greenwich. The next most important housing age is between 1940-1969 ( 14.48%), followed by between 1970-1999 ( 10.44%).
Vacant housing appears to be an issue in Greenwich. Fully 13.36% of the housing stock is classified as vacant. Left unchecked, vacant Greenwich homes and apartments can be a drag on the real estate market, holding Greenwich 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.
Greenwich's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Greenwich during the period has been just -0.83%, which is lower than 70% of US communities.
Appreciation rates are so strong in Greenwich that despite a nationwide downturn in the housing market, Greenwich real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Greenwich appreciation rates continue to be some of the highest in America, at 5.58%, which is higher than appreciation rates in 70.20% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Greenwich. Greenwich appreciation rates in the latest quarter were at 2.67%, which equates to an annual appreciation rate of 11.14%.
Importantly, this makes Greenwich one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.
Relative to New York, our data show that Greenwich's latest annual appreciation rate is higher than 80% of the other cities and towns in New York.
|$766,001 - $1,021,000||1.0|
|$511,001 - $766,000||4.2|
|$409,001 - $511,000||0.4|
|$306,001 - $409,000||4.8|
|$204,001 - $306,000||21.9|
|$102,001 - $204,000||47.7|
|$51,001 - $102,000||14.6|
|$0 - $51,000||5.0|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Greenwich HOMES|
|2000 or Newer||0.3|
|1970 - 1999||10.4|
|1940 - 1969||14.5|
|1939 or Older||74.7|
|TYPE OF Greenwich HOMES|
|Small Apt. Buildings||26.2|
|SIZE OF Greenwich HOMES|
|5 or more bedrooms||5.95|