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 | Greenville County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $282,344 | $224,357 | $242,182 |
| Price Trend (Annual %) | 12.3% | 9.2% | 8.2% |
| Median Gross Rent | $1,198 | $1,126 | $1,342 |
| Rent Trend (Annual %) | 6.0% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Greenville County is about 26% higher than in South Carolina. Rent is about 6% higher than the South 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 Greenville County, up about 12.3% and 6.0% a year respectively. Home prices are changing faster.
Median rent in Greenville County rose about 55.4% between 2015 and 2023, from $771 to $1,198. Over the same span, rent in South Carolina rose about 42.6%.
Affordability
On average, housing unit costs 3.8 yearly household incomes in Greenville County.
Buying the median-priced home in Greenville County costs roughly 19.6 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Greenville County. The price-to-rent ratio in South Carolina is about 16.6.
| Metric | Greenville County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $282,344 | $224,357 | $242,182 |
| Median Household Income | $74,695 | $66,957 | $78,145 |
| Price-to-Income Ratio | 3.8 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Greenville County rose about 148.8%, while median household income rose about 59.9% 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 | Greenville County | South Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.6% | 61.6% | 58.2% |
| Rental Rate | 28.9% | 24.6% | 31.3% |
| Vacancy Rate | 7.5% | 13.8% | 10.6% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Greenville County has a homeownership rate of 63.6%, higher than the South Carolina average of 61.6%. Its housing vacancy rate is 7.5%, compared with 13.8% in South Carolina.
Housing Stock
| Metric | Greenville County | South Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1989 | 1989 | 1978 |
| Median Number of Rooms | 5.9 | 5.7 | 5.5 |
The typical housing unit in Greenville County was built around 1989. On average, 2.4 people live in a home with about 5.9 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Greenville County, South Carolina.
What is the median home price in Greenville County, South Carolina?
The median home price in Greenville County, South Carolina is $282,344, higher than the South Carolina average of $224,357.
What is the average home price in Greenville County, South 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 Greenville County, South Carolina?
The median gross rent in Greenville County, South Carolina is $1,198 per month, higher than the South Carolina average of $1,126.
What was the median gross rent in Greenville County in 2020?
In 2020, the median gross rent in Greenville County, South Carolina was $954 per month.
What is the price-to-rent ratio in Greenville County, South Carolina?
The price-to-rent ratio in Greenville County, South Carolina is about 19.6, meaning it would take roughly 19.6 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Greenville County.
Are home prices or rent rising faster in Greenville County, South Carolina?
Both home prices and rent are rising in Greenville County, up about 12.3% and 6.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Greenville County, South Carolina?
63.6% of households in Greenville County, South Carolina own their home, higher than the South Carolina average of 61.6%.
What is the vacancy rate in Greenville County, South Carolina?
The housing vacancy rate in Greenville County, South Carolina is 7.5%, lower than the South Carolina average of 13.8%.