Mortgage Rates in Spartanburg, South Carolina — March 2026
Updated March 2026 | Based on Spartanburg market data and regional lending conditions
Spartanburg is a growing city in South Carolina with a population of 37,647. The current 30-year fixed mortgage rate in Spartanburg is 6.71%, which is 0.06% above the national average. With a median home price of $175,000 and a 20% down payment of $35,000, homebuyers can expect a monthly principal and interest payment of approximately $904.
Current Mortgage Rates in Spartanburg, SC
Below are the current average mortgage rates available in the Spartanburg area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.71% | 6.65% | +0.06% |
| 15-Year Fixed | 5.95% | 5.89% | +0.06% |
| 5/1 ARM | 6.21% | 6.15% | +0.06% |
| FHA | 6.31% | 6.25% | +0.06% |
| VA | 6.11% | 6.05% | +0.06% |
| Jumbo | 6.91% | 6.85% | +0.06% |
Spartanburg Housing Market Overview
The Spartanburg housing market offers relatively affordable housing compared to many major cities. The median household income in Spartanburg is $35,250, and the cost of living index is 82.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $42,300 to comfortably afford the median-priced home in Spartanburg, which exceeds the current median household income.
Monthly Payment Breakdown for Spartanburg
Based on the median home price of $175,000 with 20% down ($35,000), here is what you can expect to pay monthly in Spartanburg:
15-Year vs. 30-Year Mortgage in Spartanburg
Choosing a 15-year mortgage in Spartanburg at 5.95% instead of a 30-year at 6.71% would save you $113,400 in total interest over the life of the loan. However, your monthly payment would be $1,178 instead of $904 — an increase of $274 per month.
Calculate Your Spartanburg Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Spartanburg
What are the current mortgage rates in Spartanburg, SC?
As of March 2026, the average 30-year fixed mortgage rate in Spartanburg, South Carolina is 6.71%, while the 15-year fixed rate is 5.95%. FHA loans average 6.31% and VA loans 6.11%. These rates are 0.06% above the national average of 6.65%.
How much is a monthly mortgage payment in Spartanburg?
Based on the median home price of $175,000 with 20% down, the estimated monthly mortgage payment in Spartanburg is $904 for principal and interest. Including property taxes of $83/month, the total monthly housing cost is approximately $987.
What income do I need to buy a home in Spartanburg?
Using the 28% rule, you would need an annual income of approximately $42,300 to afford the median-priced home in Spartanburg at $175,000. The median household income in Spartanburg is $35,250. This means most households would need to either earn above the median or consider homes below $175,000.
Is Spartanburg a good place to buy a home in 2026?
Spartanburg offers a below-average cost of living with a cost of living index of 82.5 (national average = 100). The property tax rate in South Carolina is 0.57%, which is below the national average. Spartanburg has a population of 37,647 and offers a very affordable lifestyle.
Mortgage Rates in Other South Carolina Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Spartanburg, South Carolina area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.