Greenwood, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Greenwood Neighborhoods Since 2000




Greenwood, SC 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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Greenwood Housing Market Information

With 23,260 people, 8,540 houses or apartments, and a median cost of homes of $108,379, house prices in Greenwood are solidly below the national average.

Single-family detached homes are the single most common housing type in Greenwood, accounting for 56.10% of the city's housing units. Other types of housing that are prevalent in Greenwood include large apartment complexes or high rise apartments ( 16.39%), duplexes, homes converted to apartments or other small apartment buildings ( 16.06%), and a few row houses and other attached homes ( 5.88%).

People in Greenwood primarily live in small (one, two or no bedroom) single-family detached homes. Greenwood has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Greenwood's housing was primarily built during this period, from the '40s through the '60s. A full 37.62% of the city's housing hails from this era. Other housing ages represented in Greenwood include homes built between 1970-1999 ( 34.76%) and housing constructed before 1939 ( 18.40%). There's also some housing in Greenwood built between 2000 and later ( 9.22%).

Vacant housing appears to be an issue in Greenwood. Fully 16.20% of the housing stock is classified as vacant. Left unchecked, vacant Greenwood homes and apartments can be a drag on the real estate market, holding Greenwood 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.

Greenwood Home Appreciation Rates

Real estate appreciation rates in Greenwood's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.46% during the period.

Over the last year, Greenwood appreciation rates have trailed the rest of the nation. In the last twelve months, Greenwood's appreciation rate has been -2.24%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Greenwood were at 1.10%, which equates to an annual appreciation rate of 4.47%.

Relative to South Carolina, our data show that Greenwood's latest annual appreciation rate is lower than 90% of the other cities and towns in South Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Greenwood differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Greenwood - 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 Greenwood real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$108,379

Greenwood, SC HOME PRICES

Value Range
> $1,022,000 0.0
$767,001 - $1,022,000 0.0
$511,001 - $767,000 1.2
$409,001 - $511,000 1.1
$306,001 - $409,000 2.2
$204,001 - $306,000 12.5
$102,001 - $204,000 30.2
$51,001 - $102,000 32.0
$0 - $51,000 20.6

Average for SC
Low for Nation

Value Relative to Nation Value Relative to State
72.3368100316419 52.7881040892193

Number Of Homes And Apartments:
8,540

Greenwood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
16.12% 0.87% 2 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$969 / per month

Homeownership Rate

Homeownership
Owners 41.26
Renters 58.74
Vacant 16.20

Housing Market Details

 

Age of Homes

AGE OF Greenwood HOMES
2000 or Newer 9.2
1970 - 1999 34.8
1940 - 1969 37.6
1939 or Older 18.4

Types of Homes

TYPE OF Greenwood HOMES
Single-Family 56.1
Townhomes 5.9
Small Apt. Buildings 16.1
Apt. Complexes 16.4
Mobile Homes 5.6
Other 0.0

Home Size

SIZE OF Greenwood HOMES
No Bedroom 0.77
1 Bedroom 9.68
2 Bedrooms 43.45
3 Bedrooms 40.65
4 Bedrooms 4.48
5 or more bedrooms 0.97