Saturday, March 11, 2017

Greensboro Housing Cheaper Than Detroit

Time after time we read stories of cheap housing in Detroit and all the deals there. So honestly I was surprised to read in the following article, Greensboro Median Home Price BELOW That in Detroit, MI, that the median home price in Greensboro is $128,000:

"Median prices for other cities in the region include Raleigh ($227,000), Charlotte ($185,100), Durham ($200,000), Richmond ($192,500), Virginia Beach ($195,000); and in neighboring South Carolina, Columbia ($127,000), Greenville ($160,000) and Charleston ($220,000)

Home prices are an indication of local economic vitality and also the earnings of local citizens. Greensboro has fallen behind nearly all of the significant metro areas listed in Virginia, North Carolina and South Carolina. This has not always been the case. Twenty years ago, our real estate valuations were fairly high."

Now honestly, JoeyG didn't cite any online sources to verify but as he did mention Kiplinger I was able to find median home prices for 2015. And while the numbers were different the results were much the same:

Raleigh: $156,000
Charlotte: $138,000
Durham: $156,500
Richmond: $224,000
Virginia Beach: $230,000
Columbia: $124,650
Greenville: $162,700
Charleston: $199,000

And finally, Greensboro: $118,500 vs Detroit: $147,000

As JoeyG wrote:

"Does anyone detect a problem, perchance? And yet, the old guard in Greensboro continues to behave as if they have all the answers; and that they do not need to change their approach."

And folks, that is why I'm adding this to Billy's Big List Of Documented Reasons Why Greensboro Sucks