American shoppers flock to Greenville South Carolina as population grows 4.1%
FOX Business Contributor Katrina Campins Joins ‘Varney and Co.’ to lower mortgage rates, shifts in the housing market and where housing prices are still rising
American home buyers have been flocking to the fast-growing city nestled in the Blue Ridge Mountains of South Carolina, according to data from the Census Bureau.
The population of Greenville, which has become a regional business and manufacturing hub, increased from 70,720 in the 2020 Census to an estimated 74,371 in 2024, a 4.1% increase over four years, according to Census Bureau figures.
This increase comes despite little movement in the housing market due to high borrowing costs and limited inventory in many regions. Also, because of the so-called “lock-in” effect, which refers to homeowners staying in the area because their existing mortgage rates are significantly lower than current market rates.
THESE 10 MARKETS COULD SEE THE BIGGEST HOME BUYERS AS FORECAST RATES FALL.
But, according to the Greenville Area Development Corporation, the area has become home to major manufacturing, technology and aerospace employers over the years, making it more attractive to potential business owners.
Photo of Falls Park in Greenville, South Carolina. (Getty Images/Getty)
For example, BMW has automotive operations in nearby Spartanburg County. Michelin’s North American headquarters are in Greenville and the main site of Lockheed Martin’s aerospace operations. GE Aerospace facilities are also located in this area, increasing the economy.
| A ticker | Security | Finally | Change | change % |
|---|---|---|---|---|
| BMWKY | Company BAYERISCHE MOTOREN WERKE AG | 36.67 | +0.24 |
+0.66% |
| LMT | LOCKHEED MARTIN CORP. | 483.03 | -2.72 |
-0.56% |
| GE | GE AEROSPACE | 315.14 | -1.61 |
-0.51% |
FED LOWERS INTEREST RATE FOR THIRD STRAIGHT TIME AMID LABOR MARKET UNCERTAINTY, INFL.
“For the better part of four decades, Greenville County has devoted considerable effort to fostering foreign and domestic partnerships that have resulted in continued economic growth,” according to the Greenville Area Development Corporation’s website.
Real Estate For Sale in Greenville, South Carolina. (Getty Images/Getty)
Realtor.com Chief Economist Joel Berner emphasized how “Greenville’s strong economic growth has led to a housing market that looks very different from much of the South, where prices are falling in many metros.”
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Given the strong demand for housing in Greenville, listing prices rose 5.4% year-over-year in November, according to Berner.
Still, even with this high and a median price of $369,000, Berner noted that “the Greenville metro area remains very accessible to buyers on a budget.” He also mentioned that the number of houses for sale increased by 22.4% year on year.
UNITED STATES – NOVEMBER 29: A flag waves in the breeze outside Michelin’s North American headquarters in Greenville, South Carolina, US, on Thursday, Nov. 29, 2007. South Carolina welcomes foreign investment, with companies from BMW to Hitachi (Chris Keane/Bloomberg via Getty Images/Getty Images)
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About 8.2% more properties sold in September 2025 than in September 2024, according to Realtor.com data.
“So there are many options available to buyers in the resale and new segments,” added Berner.
