Spartanburg vs Nearby Cities
If you’re searching for affordable homes in northern South Carolina, you may want to look in the Spartanburg area. This city offers a median listing price around $150,000, and the median home value is around $100,000. It’s not difficult to find homes listed for less than $100 per square foot in this city, and nearby Woodruff offers even lower prices. You can expect to see a median home value around $75,000 in Woodruff, and the median listing and sales prices are typically below $100,000 as well.
Many surrounding cities offer real estate prices that are slightly higher. For instance, median listing prices in Greenville and Gaffney are typically close to $150,000. In Greer, the median listing price can get close to $300,000 at times.
Spartanburg is located in Upstate SC, but it offers prices much lower than other cities in the area. It’s quite centrally located, making it appealing to all kinds of families and investors. It can be accessed to and from other metropolitan areas: 98 miles northwest of Columbia, 80 miles west of Charlotte, North Carolina, and about 190 miles northeast of Atlanta, Georgia. Located in the foothills of the Blue Ridge Mountains, northwest region of South Carolina, Spartanburg offers many scenic towns, family attractions, beautiful parks, and many outdoor activities for all ages. Spartanburg includes the cities of Spartanburg, Landrum, Inman, Wellford, Woodruff, Greer, Chesnee, Pacolet, Duncan, Campobello, Cowpens, Lyman, and Reidville. Most of the property management companies in Spartanburg serve these areas, along with those in other cities in The Upstate like Greenville.
The neighborhoods in Spartanburg feature beautiful parks, excellent schools, unique shops, and lively community activities. Spartanburg also offers an abundance of housing options, and with reasonable costs of living and low taxes, the city has become very popular for those looking to move in search of affordable housing. Property taxes is also pretty low at a rate of 2%. Spartanburg has a population of a little over 300,00, offering a quieter, more peaceful lifestyle compared to Greenville. Greenville is only 30 miles away, but considering it is a major city, property prices are higher and it is 14% more densely populated than Spartanburg. This also means that the vacancy rate is a bit higher in Spartanburg since the demand for housing is slightly lower. However, the vacancy rate is only 0.4% higher than that of Spartanburg. (3.8% vs 3.4%). Here is a breakdown of the average rent for homes & apartments in Spartanburg:
Average City-Wide Rent: $1,022
Studio Apartment: $572
1-Bedroom Home or Apartment: $653
2-Bedroom Home or Apartment: $785
3-Bedroom Home or Apartment: $1,052
4-Bedroom Home or Apartment: $1,168
Spartanburg Property Managers
Experienced property managers offer more than rent collection services. They are usually knowledgeable real estate professionals capable of determining the best rental prices and suggesting renovations and repairs that may make rental units more desirable. Their job is to oversee property maintenance while communicating effectively with tenants.
Most of the property management companies that serve the Spartanburg area also serve various other cities in The Upstate. This means that managers are usually very experienced and have knowledge of the different communities in the area. As Spartanburg is a smaller city in South Carolina, there are not that many locally-owned property management companies. Most of the property managers in the city are part of a larger franchise or serve a number of other areas.
Many of the companies that serve Spartanburg also tend to be located in other more major cities in The Upstate. However, Spartanburg is a very cost-effective location, meaning you’ll be able to find high-quality assistance for a fraction of the price. Almost all of the property management companies offer a free property analysis feature to assess your unique rental and find the best approach for your business. Companies in Spartanburg are dedicated to helping you make the most of your investment and keeping tenants happy.
Spartanburg Property Management Company Fees
Property owners can expect to pay a property management fee, which is often charged as a percentage of the gross rent collected from tenants. This fee can go up to 14 percent but is typically below 10 percent. Many managers also negotiate a vacancy fee or a leasing fee.
Property management fees in this area of South Carolina tend to be lower than in other cities. Fees can vary from flat fees to monthly rent percentages. For the most part, like most companies across the nation, property managers in Spartanburg offer different tiers of services to fit different owners’ needs. Companies typically offer a basic service to fill a vacancy and collect rent.
This package tends to be for landlords who just need help finding a new tenant. For property owners who need a bit more help, there is usually a full package of property management services including marketing, rent collection, maintenance, inspections, and so on. Premium packages are also a common trend; they typically include all of the basic property management services, along with bonus features like access to online classes, special resources, networking events, and much more.
For the most part, property management fees in this part of South Carolina usually range from $80-$150 monthly. This number can significantly increase, depending on the kind of property you have and what services you need. For instance, to receive professional building inspections or deluxe marketing services, you may need to pay between $300 and $500 extra.