Real Estate Investing in Spartanburg, South Carolina (29302)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 29302 (Spartanburg, SC)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Spartanburg, SC (29302)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 29302 Spartanburg
This part of Spartanburg County is not an easy win. The 29302 ZIP shows softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The investment case in 29302 is sturdy only for operators who understand what they are buying. A $269K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
On balance, 29302 offers a low basis, the region around Spartanburg has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Who lives in 29302 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The right play in 29302 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Spartanburg:
Property Strategy for 29302
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $166,463 | $1,190 | 5.1% | +7.5% | $83,231 |
| 3BR | $237,951 | $1,440 | 4.4% | +8.3% | $79,317 |
| 4BR | $411,173 | $1,660 | 2.9% | +8.3% | $102,793 |
| 5BR | $569,984 | — | — | +9.8% | $113,997 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 29302 Compare?
| Metric | 29302 | Spartanburg | Spartanburg, SC | South Carolina |
|---|---|---|---|---|
| Home Value | $268,955 | $144,735 | N/A | $299,690 |
| 5-Year CAGR | 5.8% | 6.5% | N/A | 7.3% |
| Avg Rent | $1,503 | $1,339 | N/A | - |
| Cap Rate | 4.4% | 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 29302 (Spartanburg, SC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $268,955 |
| Monthly Rent | $1,503 |
| Price-to-Rent | 14.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.7% |
| Cap Rate | 4.4% |
| 5-Year IRR | 10.1% |
📈 Home Appreciation
| 1-Year | +2.3% ▲ |
| 3-Year CAGR | +3.3% ▲ |
| 5-Year CAGR | +5.8% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 Rent Trends
| 1-Year | +6.7% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.4%). 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 29302
Population: 19,031
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 29302
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
How quickly do rentals get leased in Spartanburg, SC?
Spartanburg, SC vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
What is the typical home price in Spartanburg, SC?
Spartanburg, SC home values average about $269K. That price point suits investors targeting rentals with $1,503/mo in monthly income.
What do landlords charge for rent in Spartanburg, SC?
Average rent in Spartanburg, SC is approximately $1,503/mo per month. Against $269K home values that yields a reasonable rent-to-price ratio.
How strict are landlord regulations in Spartanburg, SC?
SC ranks as a landlord-friendly state for landlord-tenant law. Spartanburg generally follows the statewide framework, so landlords face reasonable operating rules.
How does Spartanburg, SC stack up for property investment?
Spartanburg, SC scores 3.0/5 for investability. Home values sit at $269K and rents near $1,503/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
You know 29302 now. You don’t know where it ranks.
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How 29302 ranks in Spartanburg, SC
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