Greiz is situated in eastern Thuringia, 100 kilometres (62 miles) east of the state capital Erfurt, on the White Elster river.

Thomasstraße, Burgstraße, Marktstraße, Waldstraße, and Leonhardtstraße, with their Jugendstil houses, are well-known examples of that architectural style.

The prime location of Greiz on the confluence of the White Elster river and its tributary Göltzsch helped to make it a fast-growing town.

There is also a monument to the officer Kurt von Westernhagen, who refused orders in April 1945 to blow up the bridge and defend the town, for which he was shot by the Gestapo.

In addition to a chemical works and a disused paper factory, there are mechanical engineering operations, plastics manufacturing businesses, wood machining enterprises, medical technology, suppliers to the automobile industry, printing houses, and breweries.