Gaffney, SC—29341
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 $218,000, with a year-over-year change of -1.1%. This indicates that home prices in Gaffney, SC are decreasing. According to Zillow, the 1-year price projection is -2.9%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $218,000 | -1.1% |
| Single Family | $218,000 | -0.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $154,000 | 0.0% |
3 Bed | $265,000 | 3.5% |
4 Bed | $304,000 | 1.3% |
| 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 $1,310, with a year-over-year rent change of -10.3%. Per bedroom, the median rent as of July '25 in Gaffney, SC is 1-bedrooms: $887, 2-bedrooms: $980, 3-bedrooms: $1,520. The most common rental property sizes in Gaffney, SC are 2-bedroom and 3-bedroom, accounting for 33.9% and 31.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,310 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $895 | $887 |
| 2 Bed Rent | $860 | $980 |
| 3 Bed Rent | $1,300 | $1,520 |
| 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 75. This is a decrease of -8.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $294,000 | 1.0% |
Listing Count | 73 | 20.0% |
| Listings as % of Homes | 1.2% | 20.0% |
Days on Market | 75 | -8.0% |
Demographics — Gaffney, SC
As of the latest ACS Survey released in 2023, Gaffney, SC has a population of 19,600, which has decreased by -4.5% over the past 5 years. Gaffney, SC is a moderately popular place for families, as children make up 23.4% of the population. The area has a moderately educated workforce, with 27.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,600 | -4.5% |
% Under 18 | 23.4% | -8.2% |
% Seniors | 18.0% | 37.4% |
% WFH | 3.5% | 250.0% |
% w/ College Degree | 27.0% | 54.3% |
As of the latest ACS Survey released in 2023, Gaffney, SC is a predominantly white area, with 58.6% of the population identifying as white. The white population has shrunk by 11.7% in the last 5 years. The second most common race or ethnicity in Gaffney, SC is black, making up 25.8% of the population. Foreign-born residents account for 4.4% of the population in Gaffney, SC, and this percentage has increased by 46.7% 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 | 58.6% | -11.7% |
% Black | 25.8% | -2.3% |
% Hispanic | 8.1% | 52.8% |
% Asian | 0.6% | -14.3% |
% Foreign Born | 4.4% | 46.7% |
Mortgage and Risk — Gaffney, SC
According to HUD data as of 2023, there were 433 mortgage originations in Gaffney, SC, of which 62.0% 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 Gaffney, SC. Investor activity is low, as 1.0% 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 | 433 |
% Conventional Loans | 62.0% |
% Government Loans | 38.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
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 | 451 |
Total Units Section 8 | 187 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 94.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$145 | $895 | $750 |
| 2 Bedroom | $120 | $860 | $980 |
| 3 Bedroom | -$80 | $1,300 | $1,220 |
| 4 Bedroom | N/A | N/A | $1,410 |
Affordability — Gaffney, SC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $218,000 |
| Median Household Income | $55,600 |