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 about Scout's Real Estate Data
With a population of 8,986, 3,593 total housing units (homes and apartments), and a median house value of $237,949, house prices in Greenville are solidly below the national average.
Single-family detached homes are the single most common housing type in Greenville, accounting for 59.14% of the city's housing units. Other types of housing that are prevalent in Greenville include large apartment complexes or high rise apartments ( 20.36%), duplexes, homes converted to apartments or other small apartment buildings ( 10.11%), and a few mobile homes or trailers ( 5.79%).
People in Greenville primarily live in small (one, two or no bedroom) single-family detached homes. Greenville 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. Greenville's housing was primarily built during this period, from the '40s through the '60s. A full 39.47% of the city's housing hails from this era. Other housing ages represented in Greenville include homes built between 1970-1999 ( 36.51%) and housing constructed before 1939 ( 16.15%). There's also some housing in Greenville built between 2000 and later ( 7.87%).
In the last 10 years, Greenville has experienced some of the highest home appreciation rates of any community in the nation. Greenville real estate appreciated 118.04% over the last ten years, which is an average annual home appreciation rate of 8.11%, putting Greenville in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Greenville definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
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 2.88%, 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 3.40%, which equates to an annual appreciation rate of 14.32%.
Importantly, this makes Greenville one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Michigan, our data show that Greenville's latest annual appreciation rate is lower than 80% of the other cities and towns in Michigan.
$237,949
for Michigan
for nation
3,593
$1,458 / per month