Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Greene County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $109,539 | $265,624 | $242,182 |
| Price Trend (Annual %) | 11.1% | 9.9% | 8.2% |
| Median Gross Rent | $844 | $1,162 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 5.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Greene County is about 59% lower than in North Carolina. Rent is about 27% lower than the North Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Greene County, up about 11.1% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Greene County rose about 40.0% between 2015 and 2023, from $603 to $844. Over the same span, rent in North Carolina rose about 45.9%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Greene County.
Buying the median-priced home in Greene County costs roughly 10.8 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Greene County. The price-to-rent ratio in North Carolina is about 19.1.
| Metric | Greene County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $109,539 | $265,624 | $242,182 |
| Median Household Income | $51,038 | $69,937 | $78,145 |
| Price-to-Income Ratio | 2.1 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Greene County rose about 94.2%, while median household income rose about 31.9% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Greene County | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.4% | 57.7% | 58.2% |
| Rental Rate | 30.0% | 29.2% | 31.3% |
| Vacancy Rate | 13.6% | 13.0% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Greene County has a homeownership rate of 56.4%, lower than the North Carolina average of 57.7%. Its housing vacancy rate is 13.6%, compared with 13.0% in North Carolina.
Housing Stock
| Metric | Greene County | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.59 people | 2.46 people | 2.54 people |
| Median Structure Built Year | 1985 | 1988 | 1978 |
| Median Number of Rooms | 5.5 | 5.6 | 5.5 |
The typical housing unit in Greene County was built around 1985. On average, 2.6 people live in a home with about 5.5 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Greene County, North Carolina.
What is the median home price in Greene County, North Carolina?
The median home price in Greene County, North Carolina is $109,539, lower than the North Carolina average of $265,624.
What is the average home price in Greene County, North Carolina?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Greene County, North Carolina?
The median gross rent in Greene County, North Carolina is $844 per month, lower than the North Carolina average of $1,162.
What was the median gross rent in Greene County in 2020?
In 2020, the median gross rent in Greene County, North Carolina was $726 per month.
What is the price-to-rent ratio in Greene County, North Carolina?
The price-to-rent ratio in Greene County, North Carolina is about 10.8, meaning it would take roughly 10.8 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Greene County.
Are home prices or rent rising faster in Greene County, North Carolina?
Both home prices and rent are rising in Greene County, up about 11.1% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Greene County, North Carolina?
56.4% of households in Greene County, North Carolina own their home, lower than the North Carolina average of 57.7%.
What is the vacancy rate in Greene County, North Carolina?
The housing vacancy rate in Greene County, North Carolina is 13.6%, higher than the North Carolina average of 13.0%.