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 13,541 people, 5,098 houses or apartments, and a median cost of homes of $115,140, 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 74.34% of the city's housing units. Other types of housing that are prevalent in Greenwood include duplexes, homes converted to apartments or other small apartment buildings ( 14.96%), large apartment complexes or high rise apartments ( 7.87%), and a few mobile homes or trailers ( 2.07%).
The most prevalent building size and type in Greenwood are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.78% owning and 44.22% renting.
There is a lot of housing in Greenwood built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Greenwood built between 1940-1969 ( 39.40%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.41%). There's also some housing in Greenwood built before 1939 ( 6.17%).
Vacant housing appears to be an issue in Greenwood. Fully 24.76% 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Greenwood, where house values have increased just 37.05%, which is annualized rate of 3.20%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
NeighborhoodScout's data show that during the latest twelve months, Greenwood's appreciation rate, at 6.68%, has been at or slightly above the national average. In the latest quarter, Greenwood's appreciation rate has been 2.38%, which annualizes to a rate of 9.88%.
Relative to Mississippi, our data show that Greenwood's latest annual appreciation rate is higher than 60% of the other cities and towns in Mississippi.
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.
$115,140
for Mississippi
for nation
5,098
$1,133 / per month