Spartanburg, SC—29302
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 $264,000, 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 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $264,000 | 1.7% |
| Single Family | $265,000 | 1.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $166,000 | -1.2% |
3 Bed | $238,000 | 1.3% |
4 Bed | $411,000 | 4.8% |
| 5 Bed | $570,000 | 8.2% |
% of Housing Stock
Rental Trends — Spartanburg, SC
As of July '25, Rentcast reports the average rent in Spartanburg, SC is $1,500, with a year-over-year rent change of 2.0%. Per bedroom, the median rent as of July '25 in Spartanburg, SC is studios: $900, 1-bedrooms: $1,020, 2-bedrooms: $1,100, 3-bedrooms: $1,790, 4-bedrooms: $1,850. The most common rental property sizes in Spartanburg, SC are 2-bedroom and 3-bedroom, accounting for 57.5% and 24.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,500 |
| Studio Rent | $900 | $900 |
| 1 Bed Rent | $929 | $1,020 |
| 2 Bed Rent | $1,000 | $1,100 |
| 3 Bed Rent | $1,800 | $1,790 |
| 4 Bed Rent | $1,850 | $1,850 |
% 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 57. This is a decrease of -15.0% 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 59.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $280,000 | -4.0% |
Listing Count | 99 | 2.0% |
| Listings as % of Homes | 1.1% | 2.0% |
Days on Market | 57 | -15.0% |
Demographics — Spartanburg, SC
As of the latest ACS Survey released in 2023, Spartanburg, SC has a population of 19,000, which has increased by 12.2% over the past 5 years. Spartanburg, SC is a moderately popular place for families, as children make up 23.1% of the population. The area has a moderately educated workforce, with 41.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,000 | 12.2% |
% Under 18 | 23.1% | 6.9% |
% Seniors | 18.0% | -14.3% |
% WFH | 8.2% | 90.7% |
% w/ College Degree | 41.4% | -3.3% |
As of the latest ACS Survey released in 2023, Spartanburg, SC is a predominantly white area, with 71.3% of the population identifying as white. The white population has shrunk by 3.8% in the last 5 years. The second most common race or ethnicity in Spartanburg, SC is black, making up 16.5% of the population. Foreign-born residents account for 3.6% of the population in Spartanburg, SC, and this percentage has decreased by 23.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 71.3% | -3.8% |
% Black | 16.5% | -8.3% |
% Hispanic | 5.1% | 88.9% |
% Asian | 3.5% | -14.6% |
% Foreign Born | 3.6% | -23.4% |
Mortgage and Risk — Spartanburg, SC
According to HUD data as of 2023, there were 370 mortgage originations in Spartanburg, SC, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Spartanburg, SC. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 370 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Spartanburg, SC
As of 2024, the percent of homes in Spartanburg, SC under the Section 8 program is 8.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-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 and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 209 |
Total Units Section 8 | 178 |
% Rentals under Section 8 | 8.0% |
% Occupied Section 8 | 79.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $181 | $929 | $1,110 |
| 2 Bedroom | $230 | $1,000 | $1,230 |
| 3 Bedroom | -$280 | $1,800 | $1,520 |
| 4 Bedroom | -$190 | $1,850 | $1,660 |
Affordability — Spartanburg, SC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $264,000 |
| Median Household Income | $77,400 |