Total monthly cost of ownership
Cost to Own a Home in Spartanburg, South Carolina
A $185,000 home here costs
$1,608per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $69,000 a year.
A standard mortgage calculator would have told you $1,009. The real number is $599 higher every month, 59% more than the payment most buyers budget for.
Compare Spartanburg County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Spartanburg against Spartanburg County and South Carolina
| Measure | Spartanburg | Spartanburg County |
|---|---|---|
| Median home value | $185,300 | $216,000 |
| Median property tax | $1,470 | $1,217 |
| Effective tax rate | 0.793% | 0.563% |
| Median gross rent | $1,043 | $1,019 |
| Population | 38,578 | 338,096 |
The weather behind that power bill
Spartanburg sits in Spartanburg County, which averages a high of 90.1°F in its hottest month and a low of 31.5°F in its coldest, with 50.24" of precipitation a year and 26% of it in a single three-month stretch. That climate drives 1,664 cooling and 3,015 heating degree days, which is what sets the $165 electricity line above.
See the full climate breakdown for Spartanburg County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Spartanburg County
Full Spartanburg County cost breakdown · Every county in South Carolina
Talk to someone who works this market
These are Spartanburg averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Spartanburg every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Spartanburg I already own here and may sell
Common questions
How much does it cost to own a home in Spartanburg?
A $185,000 home in Spartanburg, South Carolina costs approximately $1,608 per month with 20% down at 7.24%. That is $1,009 principal and interest, $122 property tax, $89 homeowners insurance, $233 utilities and $154 set aside for maintenance.
What is the property tax rate in Spartanburg?
Spartanburg has an effective property tax rate of 0.793%, based on a median home value of $185,300 and median real estate taxes of $1,470. That is higher than the Spartanburg County average of 0.563%.
What is the average home price in Spartanburg?
The median owner-occupied home value in Spartanburg, South Carolina is $185,300, against $216,000 across Spartanburg County.
Is it cheaper to rent or buy in Spartanburg?
Median gross rent in Spartanburg is $1,043 a month, against $1,608 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Spartanburg?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Spartanburg, South Carolina at today's rate takes a household income of roughly $69,000 a year. That covers the full $1,608 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Spartanburg, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for South Carolina.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.