Real Estate Investing in Spartanburg, South Carolina (29301)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 29301 (Spartanburg, SC)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 14.5% of homes vacant — above national norms.
What’s happening in Spartanburg, SC (29301)?
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Market Analysis: 29301 Spartanburg
This part of Spartanburg County is not an easy win. The 29301 ZIP posts softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Rent of $1,409/mo on a $239K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 29301 sits below the stated 0.0% once reality is priced in.
ZIP 29301's metrics run below Spartanburg County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Who lives in 29301 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
New investors are better served looking at Spartanburg's stable or hybrid ZIPs before stepping into 29301. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Spartanburg:
Property Strategy for 29301
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $142,614 | $1,350 | 6.8% | +9.3% | $71,307 |
| 3BR | $223,988 | $1,640 | 5.3% | +8.1% | $74,663 |
| 4BR | $309,975 | $1,890 | 4.4% | +7.1% | $77,494 |
| 5BR | $404,198 | — | — | +7.7% | $80,840 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 29301 Compare?
| Metric | 29301 | Spartanburg | Spartanburg, SC | South Carolina |
|---|---|---|---|---|
| Home Value | $238,571 | $144,735 | N/A | $299,690 |
| 5-Year CAGR | 5.9% | 6.5% | N/A | 7.3% |
| Avg Rent | $1,409 | $1,339 | N/A | - |
| Cap Rate | 4.6% | 5.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 29301 (Spartanburg, SC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $238,571 |
| Monthly Rent | $1,409 |
| Price-to-Rent | 14.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.1% |
| Cap Rate | 4.6% |
| 5-Year IRR | 10.5% |
📈 Home Appreciation
| 1-Year | +3.6% ▲ |
| 3-Year CAGR | +3.2% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | +8.0% ▲ |
🏠 Rent Trends
| 1-Year | +4.9% ▲ |
| 3-Year CAGR | +4.3% ▲ |
| 5-Year CAGR | +5.8% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 29301
Population: 35,694
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 29301
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,510 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are tenants stable in Spartanburg, SC?
The tenant pool in Spartanburg, SC is solid, supported by local employment and population fundamentals. Rents of $1,409/mo are well-absorbed by the market.
What kind of market is Spartanburg, SC for investors?
Spartanburg, SC rates 3.0/5 for investability. With median values at $239K and rents near $1,409/mo, the market offers reasonable fundamentals for rental investors.
What is the best play in Spartanburg, SC?
The best-fit strategy in Spartanburg, SC is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
How landlord-friendly is Spartanburg, SC?
SC law landlord-friendly for landlords, and Spartanburg inherits those rules. Investors should still review local ordinances for rental licensing.
How quickly do rentals get leased in Spartanburg, SC?
Spartanburg, SC sees elevated vacancy, which is reasonable relative to the broader SC rental market.
You know 29301 now. You don’t know where it ranks.
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How 29301 ranks in Spartanburg, SC
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