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Spartanburg, SC Investment Data and Rental Metrics
Investment Data & Rental Metrics
LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$1,329
Monthly Cash Flow
-$135
Principal + Equity
$1,725
Annual Total Gain
$19,082
Cash on Cash
-2.84%
Net ROI %
STR Financial Performance
Median Price
Avg. Daily Rate
$145
Occupancy Rate
58.82%
Monthly Revenue
$1,680
Monthly Cash Flow
-$36
Principal + Equity
$1,725
Annual Total Gain
$20,274
Cash on Cash %
-0.75%
Net ROI %
Market Health & Growth
Median Income
$51,193
Population
38,578
LTR Renter %
46.64%
Forecast (1 yr)
2.7%
Appreciation (1 yr)
1.31%
Appreciation (5 yr)
49.86%
Appreciation (10 yr)
119.17%
Job Growth
2.55%
LTR Rentability
Moderate
STR Demand
58
STR Rentals
264
Top Public Schools
A-Pine Street Elementary School
A-Jesse Boyd Elementary School
A-
A-
B
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
B
Overall
Top-level market grade
Most Diverse Suburbs in South Carolina
#11out of 120 markets
Most Diverse Places to Live in South Carolina
#16out of 188 markets
Best Suburbs for Young Professionals in South Carolina
#39out of 120 markets
B
Public School
D
Crime And Safety
B-
Housing
B
Nightlife
B
Good For Families
Diversity
Jobs
Weather
Cost Of Living
Health And Fitness
Outdoor Activities
Commute
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Spartanburg, SC.
1. Spartanburg, SC has regulations in place for Short Term Rentals (STRs) that investors should be aware of before purchasing a property for this purpose.
2. The city requires all STR properties to obtain a business license, which includes an annual fee. This license must be renewed each year to remain in compliance with local regulations.
3. There are zoning restrictions in place for STR properties in Spartanburg. Investors should check with the city's zoning department to ensure that the property they are considering purchasing is in a zone that allows for short term rentals.
4. Spartanburg also has regulations regarding occupancy limits for STR properties. Investors should be aware of these limits and ensure that they are adhered to in order to avoid fines or penalties.
5. Additionally, investors should be aware of any homeowner association (HOA) rules or regulations that may restrict or prohibit short term rentals in certain neighborhoods or communities.
6. It is important for investors to thoroughly research and understand all of the regulations and requirements for STR properties in Spartanburg before making a purchase. Failure to comply with these regulations could result in fines, penalties, or even the loss of the ability to operate a short term rental property in the city.
7. Investors should also consider the potential impact of any future changes to regulations or restrictions on STR properties in Spartanburg before making an investment in this market.
Overall, investors should carefully consider all of the regulations and requirements for Short Term Rentals in Spartanburg, SC before purchasing a property for this purpose to ensure compliance and avoid any potential issues or penalties.
Market Trends Over Time
Explore 25 years of market data for Spartanburg, SC, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
Nearest Markets
Explore nearby investment markets close to Spartanburg, SC.
The LTR Genie Score of Spartanburg, SC is 79 and STR Genie Score is 68, indicating a high and moderate rating respectively. The LTR Rentability is moderate, which may be impacting the overall score. The LTR Net ROI is higher than the STR Net ROI, suggesting that long-term rental investments may be more profitable in this market. The 1-Year Price Appreciation Forecast is positive at 2.7%, indicating potential for property value growth. However, the STR Occupancy rate is below 60%, which may affect short-term rental profitability.
Spartanburg, SC is a growing city with a diverse economy, including manufacturing, healthcare, and education sectors. The city is home to several colleges and universities, which can attract students and faculty looking for long-term rental properties.
Based on the metrics provided, Spartanburg, SC appears to be more attractive for long-term rental investment due to the higher LTR Net ROI and positive price appreciation forecast. However, investors may also consider diversifying their portfolio with some short-term rental properties to take advantage of potential tourism in the area. It is recommended to conduct further research and analysis to make an informed decision on investing in this market.
LTR Genie Score 93
$199,900
🛏 4 Beds🛁 4.0000 Baths🏙 2,112 sqft.🏠 SINGLE FAMILY
