Spartanburg, SC
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
moderate
Price to income
3.33×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs South Carolina
- 3.42×-0.09
- vs U.S.
- 3.43×-0.10
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
22.8%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs South Carolina
- 25.5%-2.7
- vs U.S.
- 23.3%-0.5
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
4.45%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs South Carolina
- 4.42%+0.03
- vs U.S.
- 4.35%+0.11
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.85%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs South Carolina
- 0.37%+0.48
- vs U.S.
- 0.03%+0.83
Benchmark
IRS net migration ÷ population
strong
Permit pipeline
11.43
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs South Carolina
- 8.93+2.50
- vs U.S.
- 3.52+7.91
Benchmark
Census BPS permits TTM ÷ population × 1,000
softening
Unemployment
4.9%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs South Carolina
- 4.8%
- vs U.S.
- 3.9%
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+65.4%
homeValues.yearOverYear
+4.7%
Median home value
$207,900
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $1,083 | $12,996 | 20.8% |
| 2 BR | $1,187 | $14,244 | 22.8% |
| 3 BR | $1,439 | $17,268 | 27.7% |
Labor market direction
Unemployment
4.9%
Median household income
$62,440
What's being built
Total TTM
3,774
+44.9% YoY
Single-family
3,764
2–4 unit
0
5+ unit
10
All 1 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Spartanburg County | 330,119 | $216,000 | $64,195 | 3,774 | +44.9% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Spartanburg | 330,119 | $62,440 | 3.33× | 4.45% | +65.4% | 11.43 | 4.9% |
| Lubbock, TX | 322,285 | $62,288 | — | — | +35.7% | — | 3.1% |
| South Bend-Mishawaka, IN-MI | 323,992 | $65,385 | — | — | +58.4% | — | 3.2% |
| Clarksville, TN-KY | 322,949 | $66,210 | — | — | +61.4% | — | 3.7% |
| Gainesville, FL | 341,067 | $58,946 | — | — | +56.1% | — | 5.3% |
| Rockford, IL | 338,050 | $66,571 | — | — | +67.4% | — | 6.2% |
Where people are moving in from
Net migration
+2,818
+0.85% of population
| Origin county | Tax returns |
|---|---|
| Greenville County, SC | 2,659 |
| Cherokee County, SC | 453 |
| Sacramento County, CA | 219 |
| Anderson County, SC | 215 |
| Buncombe County, NC | 183 |
| Union County, SC | 179 |
Who lives in Spartanburg
- Median age
- 38
- Bachelor's+
- 24.8%
- Owner-occupancy
- 72.6%
- Vacancy rate
- 9.2%
- Rent burdened (30%+)
- 43.7%
- Median household income
- $62,440
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.