Home Values in Spartanburg, South Carolina — 2026 Market Report
Updated March 2026 | Balanced Market | +6.9% YoY
The median home value in Spartanburg, South Carolina is $175,000 as of March 2026, which is below the national median of $400,000. Home values in Spartanburg have increased by 6.9% over the past year and 39.6% over the last five years. With a population of 37,647 and a median household income of $35,250, the price-to-income ratio stands at 5.0x, making Spartanburg affordable for the average household.
Spartanburg Housing Market Conditions
| Metric | Spartanburg | National Avg |
|---|---|---|
| Median Home Value | $175,000 | $400,000 |
| YoY Appreciation | +6.9% | +3.8% |
| 5-Year Appreciation | +39.6% | +22.4% |
| Price per Sq Ft | $66 | $222 |
| Days on Market | 36 days | 45 days |
| Months of Supply | 4.2 | 3.5 |
| List-to-Sale Ratio | 101.5% | 98.5% |
| Monthly Homes Sold | 36 | — |
| Foreclosure Rate | 0.57% | 0.3% |
Home Value Trends in Spartanburg
A homeowner who purchased at the median price of $125,358 five years ago in Spartanburg would have gained approximately $49,642 in equity, representing a 39.6% return on investment. Over the past year alone, the typical homeowner gained $11,296 in home equity.
Affordability in Spartanburg, SC
With a median household income of $35,250 and a median home price of $175,000, the price-to-income ratio in Spartanburg is 5.0x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $1,251 compared to estimated monthly ownership costs of $914 gives a rent-vs-buy ratio of 0.73. In Spartanburg, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Spartanburg
The effective property tax rate in South Carolina is 0.57%. On a home valued at $175,000, the estimated annual property tax bill is $997, or approximately $83/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Spartanburg is 82.5 (100 = national average), indicating living costs are below the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Spartanburg, SC?
The median home value in Spartanburg, South Carolina is $175,000 as of March 2026. Home values have changed +6.9% over the past year, with a 5-year appreciation of 39.6%.
Is Spartanburg a buyer's or seller's market?
Spartanburg is currently a balanced market with 4.2 months of housing supply. Homes spend an average of 36 days on market, and the list-to-sale price ratio is 101.5%. Supply and demand are relatively balanced.
Are home values going up in Spartanburg?
Yes, home values in Spartanburg have increased by 6.9% over the past year. The 5-year appreciation rate is 39.6%, meaning a home worth $125,358 five years ago is now worth $175,000.
Is it better to rent or buy in Spartanburg?
The average monthly rent in Spartanburg is $1,251, while estimated monthly homeownership costs are approximately $914. The price-to-rent ratio is 11.7. Based on current conditions, buying may be more cost-effective than renting in this market.
Home Values in Other South Carolina Cities
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Disclaimer: Home value data for Spartanburg, South Carolina is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.