Spartanburg, SC Economy


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Spartanburg, SC is an industrial city located in the foothills of South Carolina's Blue Ridge Mountains. It is well known for its strong automotive industry, with companies such as BMW Manufacturing Company and Spartanburg Steel Products having major presence in the area. Additionally, Spartanburg is home to a number of other local businesses that contribute to the vibrant culture of this city. The cost of living in Spartanburg is lower than that of the US average; rent prices are $980 for 2-bedroom apartments compared to $1,430 nationally, while a Grocery Cost Index of 95 indicates prices around 5% lower than the national average. This makes it an attractive option for families looking to stretch their budget without sacrificing quality amenities or services.

Spartanburg has an unemployment rate of 6.7%. The US average is 6.0%.

Spartanburg has seen the job market increase by 0.9% over the last year. Future job growth over the next ten years is predicted to be 36.2%, which is higher than the US average of 33.5%.

Tax Rates for Spartanburg
- The Sales Tax Rate for Spartanburg is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Spartanburg is 7.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for Spartanburg
- The average income of a Spartanburg resident is $28,214 a year. The US average is $37,638 a year.
- The Median household income of a Spartanburg resident is $45,228 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomySpartanburg, South CarolinaUnited States
  6.76
  -1.7%-6.2%
  36.2%33.5%
  7.0%6.2%
  7.0%4.6%
  $28,214$37,638
  $45,228$69,021
  $56,301$85,028
  Population by Occupation
  0.4%1.2%
  0.1%0.5%
  4.7%6.8%
  17.8%10.0%
  2.0%2.5%
  10.9%11.0%
  6.6%4.8%
  0.7%0.8%
  1.6%1.9%
  3.8%4.7%
  1.2%1.9%
  4.1%7.6%
  0.1%0.1%
  4.5%4.2%
  12.2%9.3%
  13.8%14.0%
  1.3%2.1%
  8.0%7.0%
  4.1%4.8%
  2.0%4.7%
Reviews for Spartanburg
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Over 4 years ago

The library system is the stellar but numbers shown here are just wrong or are outdated- the area has exploded and with growth and costs are way up and services way  More

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Over 6 years ago

Made the choice to move here 3 years ago. I am single and retired and the cost of living here is much better than a lot of places. Less traffic, unemployment rate is  More

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Over 8 years ago

We moved here, from another state, 6 years ago. We love it! Real Estate is so economical. The weather is nice, year round. Summers do get hot. Great hospitals. The  More

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