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These days, finding an affordable place to live in the Greenwood area can be challenging. Home prices in Greenwood are now at a median cost of $171,741, lower than the Michigan average of $250,415.
The average cost of rent is $807/mo in Greenwood, primarily driven by the current value of real estate in the Greenwood area. In Greenwood, 14.42% of households rent, and 51.33% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Greenwood is $4,751 per month. Households that rent pay about 16.99% of their income on rent here. Greenwood’s most expensive areas are in the northwestern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Alger, MI: less expensive homes
- West Branch, MI: equally priced homes
- Sugar Rapids, MI: higher priced homes
- Skidway Lake, MI: less expensive homes
- Prescott, MI: less expensive homes
- Selkirk, MI: equally priced homes
- Sterling, MI: less expensive homes
- Hockaday, MI: higher priced homes
- St. Helen, MI: less expensive homes
- Wooden Shoe Village, MI: equally priced homes
Cities with Similar Populations
- Malvern, IA: higher priced homes
- Smartville, CA: higher priced homes
- New Rockford, ND: less expensive homes
- Morristown, MN: higher priced homes
- Minatare, NE: higher priced homes
- Milton, LA: higher priced homes
- Menan, ID: higher priced homes
- Allen, MI: equally priced homes
- Marathon City, WI: higher priced homes
- Manly, IA: less expensive homes
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