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Spartanburg, SC—29301

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$232,000
1.9% YoY Growth
Household Income
$56,600
32.3% YoY Growth
Days on Market
72
7.0% Shorter YoY
Home Price Forecast
2.5%
Median Rent
$1,500
0.0% YoY Growth
1-Bed Rent
$1,000
19.8% YoY Growth
2-Bed Rent
$1,250
4.2% YoY Growth
3-Bed Rent
$1,650
4.5% YoY Growth

Other Zip Codes in Spartanburg, SC

29307293022930329306
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Spartanburg, SC

As of Dec '25, the median home price in Spartanburg, SC is $232,000, with a year-over-year change of 1.9%. This indicates that home prices in Spartanburg, SC are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$232,0001.9%
Single Family $234,0002.2%
Condos $136,0000.7%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$144,0001.4%
    3 Bed
    		$224,0001.8%
    4 Bed
    		$310,0001.6%
    5 Bed $402,4352.0%
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    % of Housing Stock

    Studio
    2.1%
    1 Bedroom
    4.1%
    2 Bedrooms
    28.2%
    3 Bedrooms
    47.7%
    4 Bedrooms
    13.8%
    5+ Bedrooms
    4.2%

    Rental Trends — Spartanburg, SC

    As of July '25, Rentcast reports the average rent in Spartanburg, SC is $1,440, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Spartanburg, SC is studios: $1,120, 1-bedrooms: $999, 2-bedrooms: $1,250, 3-bedrooms: $1,640, 4-bedrooms: $1,810. The most common rental property sizes in Spartanburg, SC are 2-bedroom and 3-bedroom, accounting for 49.3% and 29.7% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,500$1,440
    Studio Rent $1,200$1,120
    1 Bed Rent $1,000$999
    2 Bed Rent $1,250$1,250
    3 Bed Rent $1,650$1,640
    4 Bed Rent $1,750$1,810
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    % of Rental Stock

    Studio
    6.3%
    1 Bedroom
    8.2%
    2 Bedrooms
    49.3%
    3 Bedrooms
    29.7%
    4 Bedrooms
    4.4%
    5+ Bedrooms
    2.0%

    Property Listings — Spartanburg, SC

    As of Dec '25, Realtor.com reports that the median days on market for a home in Spartanburg, SC is 58. This is a decrease of -6.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$276,0009.0%
    Listing Count
    		20547.0%
    Listings as % of Homes0.8%47.0%
    Days on Market
    		72-7.0%
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    Demographics — Spartanburg, SC

    As of the latest ACS Survey released in 2023, Spartanburg, SC has a population of 35,700, which has remained stable by -0.0% over the past 5 years. Spartanburg, SC is a moderately popular place for families, as children make up 22.2% of the population. The area has a moderately educated workforce, with 26.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.1% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		35,7000.0%
    % Under 18
    		22.2%-8.3%
    % Seniors
    		16.6%21.2%
    % WFH
    		7.1%238.1%
    % w/ College Degree
    		26.7%0.8%
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    As of the latest ACS Survey released in 2023, Spartanburg, SC is a predominantly white area, with 45.4% of the population identifying as white. The white population has grown by 2.5% in the last 5 years. The second most common race or ethnicity in Spartanburg, SC is black, making up 32.0% of the population. Foreign-born residents account for 11.6% of the population in Spartanburg, SC, and this percentage has increased by 16.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		45.4%2.5%
    % Black
    		32.0%-13.5%
    % Hispanic
    		13.2%-5.7%
    % Asian
    		5.3%39.5%
    % Foreign Born
    		11.6%16.0%
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    Mortgage and Risk — Spartanburg, SC

    According to HUD data as of 2023, there were 593 mortgage originations in Spartanburg, SC, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 46.0% 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. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		593
    % Conventional Loans
    		64.0%
    % Government Loans
    		36.0%
    % Investor Loans
    		4.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		11.0%
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    Rentals and Section 8 — Spartanburg, SC

    As of 2024, the percent of homes in Spartanburg, SC under the Section 8 program is 15.5%. 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 2-bedroom and 4-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 units do not.

    Section 8 Market Size

    Total Units under HUD
    		825
    Total Units Section 8
    		813
    % Rentals under Section 8
    		15.5%
    % Occupied Section 8
    		82.3%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$200$1,000$1,200
    2 Bedroom$80$1,250$1,330
    3 Bedroom-$10$1,650$1,640
    4 Bedroom$40$1,750$1,790

    Affordability — Spartanburg, SC

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.8
    Median Home Price$232,000
    Median Household Income$56,600

    Spartanburg, SC — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    Frequently Asked Questions