Real Estate Investing in Spartanburg, South Carolina (29333)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 29333 (Spartanburg, SC)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A balanced market — moderate cash flow and moderate appreciation. A "steady" investor profile fits best.
- High vacancy: 20.2% of homes vacant — above national norms.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely.
What’s happening in Spartanburg, SC (29333)?
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Market Analysis: 29333 Spartanburg
Within Spartanburg County, the 29333 ZIP records a lower entry point around $138K. Put differently, operators who can improve stock here typically see outsized uplift.
ZIP 29333 favors investors with a contractor on speed dial. Looking more closely, the turnkey yield looks ordinary, a renovated unit pulls stronger rent than the unrenovated $1,407/mo average.
Across Spartanburg, pockets like 29333 represent the last affordable rungs of a rising ladder. The state-level data shows those rungs thinning.
Meanwhile, incomes in 29333 sit below the county median, the tenant pool is deep and the demand for upgraded rental stock consistently outruns supply.
The strategy in 29333 is forced equity, not market equity. On the rental side, entry prices are accommodating at $138K, the returns sit in the renovation budget, not the holding period.
Here's what matters if you're considering buying a home in Spartanburg:
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 29333 Compare?
| Metric | 29333 | Spartanburg | Spartanburg, SC | South Carolina |
|---|---|---|---|---|
| Home Value | $137,621 | $144,735 | N/A | $299,690 |
| 5-Year CAGR | 5.8% | 6.5% | N/A | 7.3% |
| Avg Rent | $1,407 | $1,339 | N/A | - |
| Cap Rate | 8.0% | 5.4% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 29333 (Spartanburg, SC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $137,621 |
| Monthly Rent | $1,407 |
| Price-to-Rent | 8.2:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 12.3% |
| Cap Rate | 8.0% |
| 5-Year IRR | 13.8% |
📈 Home Appreciation
| 1-Year | -0.1% ▼ |
| 3-Year CAGR | +3.8% ▲ |
| 5-Year CAGR | +5.8% ▲ |
| 10-Year CAGR | +10.2% ▲ |
🏠 Rent Trends
| 1-Year | +9.5% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (8.0%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 29333
Population: 227
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
🎓 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
Is real estate in Spartanburg, SC a good investment right now?
With a 4.0/5 investability score, Spartanburg, SC ranks as a solid market for rental property investors. Median prices of $138K and rents of $1,407/mo drive the underlying numbers.
Is Spartanburg, SC a good market for FHA house hackers?
House hacking works an attractive in Spartanburg, SC. Rents of $1,407/mo against $138K acquisition make the strategy solid for owner-occupants.
How much should I expect to pay for a home in Spartanburg, SC?
Homes in Spartanburg, SC typically sell near $138K. Prices have moved at a 0.0% 5-year CAGR, which predictable long-term demand.
Is Spartanburg, SC good for BRRRR investors?
Spartanburg, SC is a strong for BRRRR. Acquiring below market, rehabbing, and leasing at $1,407/mo produces solid refinance appraisals against $138K values.
What is the typical rental rate in Spartanburg, SC?
Rental rates in Spartanburg, SC average $1,407/mo. Tenant demand and $138K home values make the yield look reasonable by investor standards.
You know 29333 now. You don’t know where it ranks.
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