Spartanburg, SC—29306
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 $191,000, with a year-over-year change of -0.6%. This indicates that home prices in Spartanburg, SC are flat. 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 | $191,000 | -0.6% |
| Single Family | $191,000 | 0.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $122,000 | -3.9% |
3 Bed | $186,000 | -0.5% |
4 Bed | $285,000 | 1.4% |
| 5 Bed | $370,000 | 2.8% |
% of Housing Stock
Rental Trends — Spartanburg, SC
As of July '25, Rentcast reports the average rent in Spartanburg, SC is $1,280, with a year-over-year rent change of 7.6%. Per bedroom, the median rent as of July '25 in Spartanburg, SC is 1-bedrooms: $984, 2-bedrooms: $1,270, 3-bedrooms: $1,430, 4-bedrooms: $2,200. The most common rental property sizes in Spartanburg, SC are 2-bedroom and 3-bedroom, accounting for 35.8% and 31.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,280 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $995 | $984 |
| 2 Bed Rent | $1,200 | $1,270 |
| 3 Bed Rent | $1,400 | $1,430 |
| 4 Bed Rent | $2,200 | $2,200 |
% 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 44. This is a decrease of -10.0% 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 45.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $274,000 | 12.0% |
Listing Count | 110 | 26.0% |
| Listings as % of Homes | 0.8% | 26.0% |
Days on Market | 44 | -10.0% |
Demographics — Spartanburg, SC
As of the latest ACS Survey released in 2023, Spartanburg, SC has a population of 17,300, which has increased by 7.4% over the past 5 years. Spartanburg, SC is a popular place for families, as children make up 28.8% of the population. The area has a poorly educated workforce, with 21.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,300 | 7.4% |
% Under 18 | 28.8% | 8.7% |
% Seniors | 13.9% | -15.2% |
% WFH | 4.0% | 37.9% |
% w/ College Degree | 21.2% | 14.6% |
As of the latest ACS Survey released in 2023, Spartanburg, SC is a predominantly black area, with 50.3% of the population identifying as black. The black population has shrunk by 15.3% in the last 5 years. The second most common race or ethnicity in Spartanburg, SC is white, making up 35.6% of the population. Foreign-born residents account for 7.4% of the population in Spartanburg, SC, and this percentage has increased by 111.4% 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 | 35.6% | 0.3% |
% Black | 50.3% | -15.3% |
% Hispanic | 10.5% | 238.7% |
% Asian | 1.2% | 71.4% |
% Foreign Born | 7.4% | 111.4% |
Mortgage and Risk — Spartanburg, SC
According to HUD data as of 2023, there were 313 mortgage originations in Spartanburg, SC, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 45.0% 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. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 313 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Spartanburg, SC
As of 2024, the percent of homes in Spartanburg, SC under the Section 8 program is 35.7%. 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 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Spartanburg, SC, because HUD payments exceed market rent, while 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,590 |
Total Units Section 8 | 1,350 |
% Rentals under Section 8 | 35.7% |
% Occupied Section 8 | 87.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $75 | $995 | $1,070 |
| 2 Bedroom | -$10 | $1,200 | $1,190 |
| 3 Bedroom | $70 | $1,400 | $1,470 |
| 4 Bedroom | -$600 | $2,200 | $1,600 |
Affordability — Spartanburg, SC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $191,000 |
| Median Household Income | $38,900 |