Investing in Spartanburg County
Spartanburg County covers 2 rental markets we actively finance in South Carolina — Boiling Springs, Spartanburg. Across those markets the median investment basis averages $292,500, a long-term lease averages $1,713/month, and the average all-in PITIA on a DSCR loan at the minimum down payment is $1,992. That produces a county-wide average DSCR ratio near 0.86x.
Basis varies more inside Spartanburg County than the average suggests. Spartanburg is the lowest entry point at roughly $285,000, while Spartanburg currently models the strongest coverage ratio in the county at 0.91x. When two towns in the same county ratio differently, it is almost always the rent-to-price relationship rather than the rate — the same loan pricing applies county-wide, so the deal is won on which submarket you buy in.