Spartanburg, SC—29303
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 $200,000, with a year-over-year change of 1.1%. 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 | $200,000 | 1.1% |
| Single Family | $200,000 | 1.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $134,000 | 3.1% |
3 Bed | $204,000 | 1.5% |
4 Bed | $272,000 | 1.9% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Spartanburg, SC
As of July '25, Rentcast reports the average rent in Spartanburg, SC is $1,490, with a year-over-year rent change of 25.2%. Per bedroom, the median rent as of July '25 in Spartanburg, SC is studios: $787, 1-bedrooms: $1,210, 2-bedrooms: $1,560, 3-bedrooms: $1,680, 4-bedrooms: $1,910. The most common rental property sizes in Spartanburg, SC are 2-bedroom and 3-bedroom, accounting for 38.0% and 32.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,550 | $1,490 |
| Studio Rent | $430 | $787 |
| 1 Bed Rent | $1,280 | $1,210 |
| 2 Bed Rent | $1,550 | $1,560 |
| 3 Bed Rent | $1,750 | $1,680 |
| 4 Bed Rent | $2,010 | $1,910 |
% 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 76. This is a increase of 2.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $281,000 | 6.0% |
Listing Count | 151 | -12.0% |
| Listings as % of Homes | 0.4% | -12.0% |
Days on Market | 76 | 2.0% |
Demographics — Spartanburg, SC
As of the latest ACS Survey released in 2023, Spartanburg, SC has a population of 28,000, which has increased by 11.6% over the past 5 years. Spartanburg, SC is a moderately popular place for families, as children make up 21.7% of the population. The area has a poorly educated workforce, with 12.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,000 | 11.6% |
% Under 18 | 21.7% | 4.8% |
% Seniors | 11.2% | -5.1% |
% WFH | 4.8% | 77.8% |
% w/ College Degree | 12.3% | -8.2% |
As of the latest ACS Survey released in 2023, Spartanburg, SC is a predominantly white area, with 42.2% of the population identifying as white. The white population has shrunk by 18.1% in the last 5 years. The second most common race or ethnicity in Spartanburg, SC is black, making up 36.2% of the population. Foreign-born residents account for 11.3% of the population in Spartanburg, SC, and this percentage has increased by 17.7% 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 | 42.2% | -18.1% |
% Black | 36.2% | 17.5% |
% Hispanic | 16.1% | 40.0% |
% Asian | 2.0% | -48.7% |
% Foreign Born | 11.3% | 17.7% |
Mortgage and Risk — Spartanburg, SC
According to HUD data as of 2023, there were 313 mortgage originations in Spartanburg, SC, of which 65.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 44.0% above 90% LTV (very high). This implies large mortgage risk in Spartanburg, SC. Investor activity is low, as 5.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 313 |
% Conventional Loans | 65.0% |
% Government Loans | 35.0% |
% Investor Loans | 5.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Spartanburg, SC
As of 2024, the percent of homes in Spartanburg, SC under the Section 8 program is 8.8%. 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. In Spartanburg, SC, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 755 |
Total Units Section 8 | 520 |
% Rentals under Section 8 | 8.8% |
% Occupied Section 8 | 81.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$240 | $1,280 | $1,040 |
| 2 Bedroom | -$400 | $1,550 | $1,150 |
| 3 Bedroom | -$330 | $1,750 | $1,420 |
| 4 Bedroom | -$460 | $2,010 | $1,550 |
Affordability — Spartanburg, SC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $200,000 |
| Median Household Income | $45,700 |