Greenville annual population growth rate is sitting around 0.34% which is solid, 1.02% growth since the 2020 Consensus has been recorded. Persons over 65 account for ~9.8% of the population. Median age of 26.6, 18 min average commute to work, and a bit over 5,200 veterans locally. Greenville is the 12th largest city in NC, and 426th largest in the US.

I will outline Greenville's 6 main development goals as per the 2023 draft plan. I will lay them out simply- Goal - Budget- Intended Result, this is currently the 5 year drafted plan window time with all these starting in 2023. (*Again, this is the current draft*).

1. Improving Housing Access and Quality - $3,000,000 - Construct 250 Rental Units/Households + Construct 10 Homeowner Households + Rehab 75 Current Homeowner Households

2. Provide Housing and Services for People Experiencing or At Risk of Homelessness - $1,433,107 - Construction of Homeless Person Shelter For Overnight Stays + Prevent 1,500 Individuals From Experiencing Homelessness

3. Improve Public Facilities and Infrastructure - $500,000 - Activities for Low/Mid Income Communities, To Impact 50 Households Positively (City Center Area and West Greenville)

4. Provide Public Services - $672,995 - Public Service Activities to Benefit Low/Mid Income Communities, To Impact 2,500 Households Positively (City-wide)

5. Support Economic Development - $500,000 - 10 Businesses Assisted

6. Planning and Administration - $1,176,972 - To address fair housing, their is no further explanation provided.

Greenville is clearly setting their eyes on meeting the demands of the local population, while continue to looking forward to supplying it's large rent base the space they need to continue growing in population. There is a clear intent to focus in on affordable housing in the Greenville and surrounding areas.

Greenville's largest employers in manufacturing are Thermo Fisher Scientific (1,954) and Hyster-Yale (1,226), the largest non-manufacturing employers are Vidant Medical Center (6,760), East Carolina University (5,672), and Pitt County Public Schools (3,699).

Greenville's premier school is East Carolina University which as of 2020 report 28,798 students with a 74.6% full time student rate.

Let's talk crime, then numbers. Greenville ranks as an 11/100 on the crime index (with 100 being the safest). Taking a look at their local police reports (Part 1 Crimes 5 yr report, through 2022), it would appear that Greenville has had a recent tick up in total crime, however is still operating underneath their 5 year average for crime stats, looks like that's a good sign, and when data for 2023 is made available I hope it continues on a downwards trend. The only thing that I see concerning is homicides are up 2x for 2022 so far, 5 year average is at a 4, and currently marking 8 on the report. Hope to see that trend a different direction.

The median home value is around $163,500, median sale price is down to ~$240,000. Median DOM is down to 53 with average homes getting list and pending in 12 days, and hot homes are getting an average of 3% over list and pending in 3 days. Homes are getting multiple offers again, and I'd consider it "Very" Competitive. Greenville was a bit of a sleeper for awhile, an it appears that it has lit up some radars. Lot's of action has been hitting Greenville extremely recently.

- Seeing faster turn arounds, whilst getting above ask, and still the median sales price is dropping, that screams investors.

About a 33.3% owner occupied ratio. SFH 51%, mfh 49%. Poverty rate is around 30%. A copious amount of renters, supplied with students regularly, and high poverty rate, gives investors opportunity in Greenville. Plenty of room to work with, there are some extremely nice parts of Greenville that give the options to more higher end deals, and a plethora of lower priced properties that have investment potential.

Greenville has a cost of living ranked as 50/50th most expensive in NC, which means as far as NC is concerned it's considered the cheapest city live in. Not too bad.

Greenville's most recent figure for GDP is at $10.8 Billion, in 2018 they were at $9.5 Billion, that's solid enough.

To conclude, in my last post I mentioned that it looked like Greenville really wasn't on anyone's radar, that appears to have changed. If you are looking to invest in North Carolina, and have not checked into Greenville as a market that could be potentially viable for you, I suggest that you do so. As it starts to light up on investors radars, those deals that were sitting and waiting for investors are going to start getting snatched up rather quickly, if they aren't already spoken for. The best time to invest was always yesterday. With traction coming to Greenville, I think that this may be a market that we see make a come back and begin to start seeing good action. Greenville has a decent population and a lot of renters, with the prices being what they are locally, it may be a great opportunity for the savvy investor.

Talk at you again in 3 months Greenville!

As always looking for questions, comments, concerns, and any feedback. It's impossible to know everything about a market, so any value add information is expressly desired, and I appreciate it! I'm looking to connect with more people on here, so please reach out! Don't be stingy with upvotes or commenting anywhere on this thread, it's how I know this content is bringing value to readers.

Cheers!

For more reading and sources:

https://www.census.gov/quickfa...

https://worldpopulationreview....

https://censusreporter.org/pro...

https://datausa.io/profile/geo...

https://datausa.io/profile/uni...

https://www.neighborhoodscout....

https://livingcost.org/cost/un...

https://www.forbes.com/advisor...

https://fred.stlouisfed.org/se...

https://www.realtor.com/reales...