It serves primarily as a residential municipality, functioning as a suburb for the larger Copenhagen area.

Until the 1960s the area was primarily agricultural, and most businesses in town were concentrated along the coastal road "Strandvejen".

During the late 1960s and into the 1970s, many people moved permanently out of Copenhagen and into new homes in places like Greve.

What was formerly farmers' fields quickly turned into districts of detached houses, whilst most of the shops and similar businesses near the coastal road moved into central shopping malls such as Hundige Storcenter and Greve Midtby Center.

Around 1980 the S-train railroad network was expanded towards Køge, and the stations Greve and Hundige were placed adjacent to the shopping malls.