Gaffney, SC—29340
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Gaffney, SC
Home Price Trends — Gaffney, SC
As of Oct '25, the median home price in Gaffney, SC is $148,000, with a year-over-year change of -5.5%. This indicates that home prices in Gaffney, SC are decreasing. According to Zillow, the 1-year price projection is -3.5%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $148,000 | -5.5% |
| Single Family | $148,000 | -5.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $130,000 | 2.4% |
3 Bed | $198,000 | 3.7% |
4 Bed | $256,000 | 3.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Gaffney, SC
As of July '25, Rentcast reports the average rent in Gaffney, SC is $931, with a year-over-year rent change of 7.1%. Per bedroom, the median rent as of July '25 in Gaffney, SC is studios: $849, 1-bedrooms: $807, 2-bedrooms: $930, 3-bedrooms: $1,340. The most common rental property sizes in Gaffney, SC are 2-bedroom and 3-bedroom, accounting for 35.9% and 35.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $931 |
| Studio Rent | $849 | $849 |
| 1 Bed Rent | $825 | $807 |
| 2 Bed Rent | $950 | $930 |
| 3 Bed Rent | $1,250 | $1,340 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Gaffney, SC
As of Oct '25, Realtor.com reports that the median days on market for a home in Gaffney, SC is 66. This is a increase of 13.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $239,000 | 6.0% |
Listing Count | 72 | -2.0% |
| Listings as % of Homes | 0.6% | -2.0% |
Days on Market | 66 | 13.0% |
Demographics — Gaffney, SC
As of the latest ACS Survey released in 2023, Gaffney, SC has a population of 21,400, which has increased by 1.7% over the past 5 years. Gaffney, SC is a moderately popular place for families, as children make up 20.4% of the population. The area has a poorly educated workforce, with 11.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,400 | 1.7% |
% Under 18 | 20.4% | -5.6% |
% Seniors | 17.4% | 2.4% |
% WFH | 8.1% | 376.5% |
% w/ College Degree | 11.6% | -2.5% |
As of the latest ACS Survey released in 2023, Gaffney, SC is a predominantly white area, with 70.9% of the population identifying as white. The white population has shrunk by 3.1% in the last 5 years. The second most common race or ethnicity in Gaffney, SC is black, making up 22.0% of the population. Foreign-born residents account for 2.2% of the population in Gaffney, SC, and this percentage has increased by 69.2% 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 | 70.9% | -3.1% |
% Black | 22.0% | 2.3% |
% Hispanic | 2.3% | -25.8% |
% Asian | 0.6% | 100.0% |
% Foreign Born | 2.2% | 69.2% |
Mortgage and Risk — Gaffney, SC
According to HUD data as of 2023, there were 331 mortgage originations in Gaffney, SC, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Gaffney, SC. Investor activity is low, as 2.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 331 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Gaffney, SC
Gaffney, SC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 224 |
Total Units Section 8 | 156 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 95.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$115 | $825 | $710 |
| 2 Bedroom | -$20 | $950 | $930 |
| 3 Bedroom | -$90 | $1,250 | $1,160 |
| 4 Bedroom | N/A | N/A | $1,340 |
Affordability — Gaffney, SC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $148,000 |
| Median Household Income | $42,400 |