Spartanburg, South Carolina Housing Market Prices
Spartanburg Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 32% below the South Carolina median$163,504
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Median rent 10% below the South Carolina median$1,066
Housing Market Overview
| Metric | Spartanburg | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $163,504 | $239,609 | $248,835 |
| Price Trend (Annual %) | 9.1% | 8.9% | 7.5% |
| Median Gross Rent | $1,066 | $1,179 | $1,407 |
| Rent Trend (Annual %) | 5.4% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Spartanburg is about 32% lower than in South Carolina. Rent is about 10% lower than the South Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Spartanburg, up about 9.1% and 5.4% a year respectively. Home prices are changing faster.
Median rent in Spartanburg rose about 55.2% between 2015 and 2024, from $687 to $1,066. Over the same span, rent in South Carolina rose about 49.3%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Spartanburg.
Buying the median-priced home in Spartanburg costs roughly 12.8 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Spartanburg. The price-to-rent ratio in South Carolina is about 16.9.
| Metric | Spartanburg | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $163,504 | $239,609 | $248,835 |
| Median Household Income | $51,651 | $69,383 | $80,455 |
| Price-to-Income Ratio | 3.2 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Spartanburg rose about 90.5%, while median household income rose about 38.0% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Spartanburg | South Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.2% | 62.3% | 58.5% |
| Rental Rate | 40.8% | 24.4% | 31.2% |
| Vacancy Rate | 9.0% | 13.3% | 10.2% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
Spartanburg has a homeownership rate of 50.2%, lower than the South Carolina average of 62.3%. Its housing vacancy rate is 9.0%, compared with 13.3% in South Carolina.
Housing Stock
| Metric | Spartanburg | South Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.33 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1968 | 1990 | 1978 |
| Median Number of Rooms | 5.4 | 5.7 | 5.5 |
The typical housing unit in Spartanburg was built around 1968. On average, 2.3 people live in a home with about 5.4 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Spartanburg, South Carolina.
What is the median home price in Spartanburg, South Carolina?
The median home price in Spartanburg, South Carolina is $163,504, lower than the South Carolina average of $239,609.
What is the average home price in Spartanburg, South Carolina?
The typical home price in Spartanburg, South Carolina, reported as the median sale price, is $163,504. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Spartanburg, South Carolina?
The median gross rent in Spartanburg, South Carolina is $1,066 per month, lower than the South Carolina average of $1,179.
What was the median gross rent in Spartanburg in 2020?
In 2020, the median gross rent in Spartanburg, South Carolina was $815 per month.
What is the price-to-rent ratio in Spartanburg, South Carolina?
The price-to-rent ratio in Spartanburg, South Carolina is about 12.8, meaning it would take roughly 12.8 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Spartanburg.
Are home prices or rent rising faster in Spartanburg, South Carolina?
Both home prices and rent are rising in Spartanburg, up about 9.1% and 5.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Spartanburg, South Carolina?
50.2% of households in Spartanburg, South Carolina own their home, lower than the South Carolina average of 62.3%.
What is the vacancy rate in Spartanburg, South Carolina?
The housing vacancy rate in Spartanburg, South Carolina is 9.0%, lower than the South Carolina average of 13.3%.
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