Located in the Piedmont Triad region, Greensboro includes Winston-Salem and High Point in North Carolina. With about 295,000 residents, it is the 3rd largest city in this South Atlantic state and the most populous city in the Piedmont Triad area.
Thriving, historic, and diverse, Greensboro hosts a lot of athletic events all year round. That’s why many call it Tournament Town. Most of these sporting events, as well as trade shows and music concerts, take place in the Coliseum Complex.
Many arts organizations are held in the Cultural Center. It consists of a large outdoor amphitheater and several art galleries. Besides, the School of Greensboro Ballet offers high-quality dance education to both adults and kids of all ages.
Are you planning to move to Greensboro? If so, read on to learn more about the local housing market before making up your mind.
Purchasing a Home in Greensboro, North Carolina
Whether you want to buy an existing or new home, remember that affordable house prices tend to rise slightly in Greensboro. The most affordable houses stay in the rental market for a very short time. With that in mind, you should get your home finances in order as soon as possible and act fast when a good opportunity arises.
At an average selling price of $140,000, the foreclosures are the cheapest option in Greensboro. If you intend to purchase an existing house here, expect to fork out from $180,000 to $200,000. For a new home, you are likely to pay somewhere between $210,00 and $250,000 in most neighborhoods.
Greensboro Downtown is no doubt the most attractive neighborhood here. The comfy apartments, residential tall towers, and historic buildings attract many house hunters. Other things that make the downtown popular are restaurants, coffee houses, and museums.
Fisher Park is another desirable neighborhood in Greensboro, NC. This historic district is interesting to families and young professionals enjoying the history of this area and a distinct community spirit.
Grandover is an exclusive area ideal for professionals and executives who appreciate grand homes and gated communities.
Renting to Own a Home in Greensboro, NC
Rent-to-own agreements allow home buyers to settle in their dream house immediately and buy it later on. They are generally less strict in terms of finance. Before signing a financial agreement, you should discuss the best options with the mortgage and real estate experts.
As a potential purchaser, you can take advantage of such a contract to improve your credit score while accumulating a home down payment meanwhile. Be ready to pay an option fee besides monthly rents. Check if these expenses can get credited to your down payment.
Living Costs in Greensboro
The locals pay less on most necessities and housing than the US averages. For example, transportation and utilities are up to 4% lower than the national average.
Healthcare is slightly above the average (for about 3 percent), though. Groceries are also a bit pricey. Nevertheless, the cost of living in this thriving city is considered to be affordable in general.
Affordable housing and the overall cost of living make Greensboro a desirable city to put down roots and start a family. In addition to a booming housing market, Greensboro features engaging historic neighborhoods.
The community chock-full of sporting and cultural events adds to the city’s appeal. This welcoming city is home to a big cultural community and flourishing art too. The arts are contributing a lot (about $118 million) to the regional economy.
Top-notch education and strong industry also improve the quality of life of residents. That said, it is no surprise an increasing number of people look for rent-to-own homes in this area.
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City of Greensboro, NC Demographic Information
- White Population:166,354
- Black Population:90,333
- Hispanic Population:10,831
- Asian Population:7,065
- Hawaiian Population:107
- Indian Population:1,278
- Other Population:5,207
- Male Population:130,675
- Female Population:143,961
- Avg House Value:$57,517
- Avg Household Income:$21,383