2025 Annual Comprehensive Report

The Greensboro unemployment rate decreased to 4.8% in June 2025, compared to 5.0% in June 2024. The unemployment rates in June 2025 for North Carolina and the United States were 3.7% and 4.1% respectively. (U.S. Bureau of Labor Statistics) The 2023 U.S. Census Bureau data shows the Median Household Income in Greensboro was $63,516, a 27.7% increase over the past five years from $49,748 in 2019. The 2024 median household income for North Carolina was $73,958 and United States was $81,604. (U.S. Census Bureau) In second quarter 2025, there were 720 single-family home closings in Greensboro, a decrease of 3.2% compared to the same period last year. The second quarter 2025 median home sales price in Greensboro was $335,000, a 2.9% increase compared to the same period last year. (Greensboro Regional REALTORS® Association) There are currently 10,862 hotel/motel rooms throughout the City comprising 91 hotels. Receipts from the City’s 3% occupancy tax totaled $6,234,806 in FY 2024-25. The Tourism Authority receives 20% of the City’s 3% occupancy tax, with the balance dedicated to debt service related to Coliseum complex improvements and maintenance on the facility. A portion of the County’s 3% occupancy tax is remitted to the City for capital improvements for tourism development activities and for support of the Steven Tanger Center for the Performing Arts debt service. Guilford County has a robust and growing tourism industry, maximizing economic impact and vitality in the region. In 2024, Guildford County spent 6.6% more compared to 2023, representing $1.79 billion in spending. Overall, the state of North Carolina saw a 3.1% increase in tourism spending to $36.7 billion during 2024. The Greensboro Coliseum Complex (the “Coliseum Complex”) is a multi-building entertainment, sports and convention facility serving the residents of Greensboro, surrounding areas and beyond since 1959. The First Horizon Coliseum (formerly known as Greensboro Coliseum) includes the 22,000-seat Greensboro Arena, the 167,000 square-foot Special Events Center with three exhibition halls, a 5,000-seat mini-arena, the 300-seat Odeon Theatre, The Terrace, White Oak Amphitheatre, Greensboro Aquatic Center (GAC), the ACC Hall of Champions, The Novant Health Fieldhouse and the Steven Tanger Center for the Performing Arts. In July 2024, the Oak View Group (“OVG”) began managing and operating both the Coliseum Complex and the Steven Tanger Center for the Performing Arts. Prior to the start of this new contract, OVG was the provider for food

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