Spartanburg, SC—29301
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Spartanburg, SC
As of Oct '25, the median home price in Spartanburg, SC is $232,000, with a year-over-year change of 1.7%. This indicates that home prices in Spartanburg, SC are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $232,000 | 1.7% |
| Single Family | $234,000 | 2.2% |
| Condos | $138,000 | 1.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $143,000 | 1.4% |
3 Bed | $224,000 | 1.8% |
4 Bed | $310,000 | 1.6% |
| 5 Bed | $404,000 | 2.3% |
% of Housing Stock
Rental Trends — Spartanburg, SC
As of July '25, Rentcast reports the average rent in Spartanburg, SC is $1,440, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Spartanburg, SC is studios: $1,120, 1-bedrooms: $999, 2-bedrooms: $1,250, 3-bedrooms: $1,640, 4-bedrooms: $1,810. The most common rental property sizes in Spartanburg, SC are 2-bedroom and 3-bedroom, accounting for 49.3% and 29.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,440 |
| Studio Rent | $1,200 | $1,120 |
| 1 Bed Rent | $1,000 | $999 |
| 2 Bed Rent | $1,250 | $1,250 |
| 3 Bed Rent | $1,650 | $1,640 |
| 4 Bed Rent | $1,750 | $1,810 |
% of Rental Stock
Property Listings — Spartanburg, SC
As of Oct '25, Realtor.com reports that the median days on market for a home in Spartanburg, SC is 54. This is a decrease of -7.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 39.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $282,000 | 14.0% |
Listing Count | 212 | 42.0% |
| Listings as % of Homes | 0.8% | 42.0% |
Days on Market | 54 | -7.0% |
Demographics — Spartanburg, SC
As of the latest ACS Survey released in 2023, Spartanburg, SC has a population of 35,700, which has remained stable by -0.0% over the past 5 years. Spartanburg, SC is a moderately popular place for families, as children make up 22.2% of the population. The area has a moderately educated workforce, with 26.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,700 | 0.0% |
% Under 18 | 22.2% | -8.3% |
% Seniors | 16.6% | 21.2% |
% WFH | 7.1% | 238.1% |
% w/ College Degree | 26.7% | 0.8% |
As of the latest ACS Survey released in 2023, Spartanburg, SC is a predominantly white area, with 45.4% of the population identifying as white. The white population has grown by 2.5% in the last 5 years. The second most common race or ethnicity in Spartanburg, SC is black, making up 32.0% of the population. Foreign-born residents account for 11.6% of the population in Spartanburg, SC, and this percentage has increased by 16.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 45.4% | 2.5% |
% Black | 32.0% | -13.5% |
% Hispanic | 13.2% | -5.7% |
% Asian | 5.3% | 39.5% |
% Foreign Born | 11.6% | 16.0% |
Mortgage and Risk — Spartanburg, SC
According to HUD data as of 2023, there were 593 mortgage originations in Spartanburg, SC, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 46.0% above 90% LTV (very high). This implies large mortgage risk in Spartanburg, SC. Investor activity is low, as 4.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 593 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Spartanburg, SC
As of 2024, the percent of homes in Spartanburg, SC under the Section 8 program is 15.5%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Spartanburg, SC, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 825 |
Total Units Section 8 | 813 |
% Rentals under Section 8 | 15.5% |
% Occupied Section 8 | 82.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $200 | $1,000 | $1,200 |
| 2 Bedroom | $80 | $1,250 | $1,330 |
| 3 Bedroom | -$10 | $1,650 | $1,640 |
| 4 Bedroom | $40 | $1,750 | $1,790 |
Affordability — Spartanburg, SC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $232,000 |
| Median Household Income | $56,600 |