Housing
Vacancy - 19.7%
The Greenville-Jacksonville, NC Market ranks 8th in Vacancy across STI Markets with a Vacancy rate of 19.7%. That is 84,431 Vacant Housing units compared to 344,150 Occupied units.
Average Home Value - $329,481
The Average Home Value for owner occupied housing units in the Greenville-Jacksonville, NC Market is $329,481. This ranks 95th across STI Markets. Over the last 2 years there has been a change of 16.2% in this markets Average Home Value, compared to a national change of 9.9%. This 2 year change in home values ranks 24th across STI Markets.
Figure 55: Home Value 2year History
Mortgage Risk Level - Low
Mortgage Risk is defined as the ratio of recent residential loan amount to income for new home purchases. The Mortgage Risk for the Greenville-Jacksonville, NC Market is 2.9. The market subsequently ranks 82nd across STI Markets. This is considered to be a Low level of mortgage risk.
Affordability Level - Accessible
Overall Affordability can be classified in a similar fashion, comparing the Markets Average Home Value with the Average Household Income. This Affordability ratio currently sits at 4.1. The Greenville-Jacksonville, NC Market therefore earns the Accessible classification for housing affordability and ranks 68th across STI Markets. The following chart shows how markets compare between these two measure. Note the breaks between affordability classifications are 3, 5, and 7.
Figure 60: Affordability Comparision
