Data shows ENC housing costs lower than national average

GREENVILLE, N.C. (WITN) – Rows of houses surround a busy city, but despite the hustle and bustle, Greenville houses are comparatively less expensive than the United States average.

“Greenville/Pitt County MSA (Metropolitan Statistical Area) performs quite well compared to peer communities,” said Josh Lewis, the CEO of ENC’s Alliance.

Federal Reserve data from January shows Greenville’s average housing price per square foot is $158.00, which is 31 % lower than the average price per square foot at $221.00 The lower cost can be for several reasons.

“When it comes to location factors, personal decisions are a balance between cost-of-living wages and opportunity, and what we want to continue to communicate and promote is that the Greenville Pitt County MSA in relation to larger MSA across the country and even in the state like the Raleigh’s and the Charlotte’s we have a competitive advantage,” said Lewis.

That has resulted in some, like John Truselo, to move to ENC from out of state.

“Hawaii is very expensive, Hawaii is very expensive, and it’s a lot more affordable here for us to pursue education for our son, just overall, just more affordable,” said Truselo.

Overall, Lewis said these numbers are great for the area but are contingent on enough housing being available for people who want to move to the area.

Other cities in Eastern Carolina that are similar in size to Greenville also show lower housing MSA. New Bern is 24% lower than the national average, and Jacksonville is 31% lower.

Breaking those numbers down further shows the average price per square foot for New Bern is $187.00 and $174.00 for Jacksonville.