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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Greenwood, SC Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Greenwood, SC Housing Market Trends

With 22,454 people, 8,719 houses or apartments, and a median cost of homes of $185,653, 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 58.67% of the city's housing units. Other types of housing that are prevalent in Greenwood include large apartment complexes or high rise apartments ( 17.57%), duplexes, homes converted to apartments or other small apartment buildings ( 15.87%), and a few row houses and other attached homes ( 4.25%).

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 37.07% of the city's housing hails from this era. Other housing ages represented in Greenwood include homes built between 1970-1999 ( 33.97%) and housing constructed before 1939 ( 16.57%). There's also some housing in Greenwood built between 2000 and later ( 12.39%).

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 6.01% during the period.

Appreciation rates are so strong in Greenwood that despite a nationwide downturn in the housing market, Greenwood real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Greenwood appreciation rates continue to be some of the highest in America, at 6.75%, which is higher than appreciation rates in 72.67% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Greenwood. Greenwood appreciation rates in the latest quarter were at 1.20%, which equates to an annual appreciation rate of 4.88%.

Relative to South Carolina, our data show that Greenwood's latest annual appreciation rate is lower than 60% 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

$185,653

Greenwood, SC Home Prices
> $1,370,000
$1,028,001 - $1,370,000
$685,001 - $1,028,000
$548,001 - $685,000
$411,001 - $548,000
$274,001 - $411,000
$137,001 - $274,000
$69,001 - $137,000
$0 - $69,000
0.6%
0.6%
0.0%
0.0%
1.9%
1.9%
2.8%
2.8%
5.1%
5.1%
13.9%
13.9%
33.5%
33.5%
30.3%
30.3%
11.9%
11.9%
0% 100.0%
% of Homes
Average

for South carolina

Low

for nation

Number of Homes And Apartments:

8,719

Greenwood Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,405 / per month

Homeownership Rate

Owners
Renters
39.7%
39.7%
60.3%
60.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
9.6%
9.6%
90.4%
90.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
12.4%
12.4%
34.0%
34.0%
37.1%
37.1%
16.6%
16.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
58.7%
58.7%
4.3%
4.3%
15.9%
15.9%
17.6%
17.6%
3.6%
3.6%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.5%
3.5%
8.5%
8.5%
37.6%
37.6%
39.1%
39.1%
9.5%
9.5%
1.9%
1.9%
0% 100.0%
% of Homes