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City · 8,239 residents · Spartanburg County, South Carolina

Valley Falls , South Carolina

In Valley Falls, a typical home is worth $256,600 and typical rent is $1,021 a month. Compared with all of Spartanburg County, typical household income is 16% lower, the typical home value is 10% higher, and the share of households that own their home is 22 points lower.

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  • Typical home value

    $256,600

    10% above the county

    About the same as South Carolina

    • Valley Falls
    • Spartanburg
    • South Carolina

  • Typical rent

    $1,021a month

    6% below the county

    13% below South Carolina

    • Valley Falls
    • Spartanburg
    • South Carolina

  • Typical household income

    $55,661a year

    16% below the county

    20% below South Carolina

    • Valley Falls
    • Spartanburg
    • South Carolina

  • Households that own their home

    51%

    22 points below the county

    21 points below South Carolina

    • Valley Falls
    • Spartanburg
    • South Carolina

Source: U.S. Census Bureau, Average 2020–2024

Valley Falls is in Spartanburg County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Spartanburg County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Valley Falls apart

What this place has that others do not, from public data, most unusual first.

  1. 51% of households in Valley Falls own their home, against 73% in Spartanburg County.

  2. Nearby, in Gaffney, the typical home value is $137,700: 46% less than in Valley Falls ($256,600).

  3. The typical household income in Valley Falls is $55,661, 16% less than in Spartanburg County as a whole ($66,234).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Valley Falls

What homes there are in Valley Falls, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

No kind of home is the majority in Valley Falls; the largest group, detached houses, adds up to 47%, less than in Spartanburg County (72%).

Year built

The typical home in Valley Falls was built in 2004, 14 years after the typical one in Spartanburg County.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,377 a month

Spartanburg County: $1,401 a month

Without a mortgage

$358 a month

Spartanburg County: $412 a month

Owners with a mortgage

50%

Spartanburg County: 60%

The typical cost for an owner with a mortgage in Valley Falls is $1,377 a month, near the figure in Spartanburg County ($1,401).

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Much as in Spartanburg County, the typical home value in Valley Falls rose 68% since 2015–2019.

Since 2015–2019, the typical rent in Valley Falls rose 46%, more than in Spartanburg County (37%).

To compare: typical income in Valley Falls rose 56%; the home, +68%; the rent, +46%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureValley FallsSpartanburg CountySouth CarolinaUnited States
Rental vacancy Unreliable estimate7.1%8.3%5.5%
Homeowner vacancy Unreliable estimate0.5%0.9%0.9%
More than one person per room Unreliable estimate2.5%2.0%3.4%
People per household 2.482.582.442.53
Drive alone 79%79%76%69%
Carpool Unreliable estimate10%9%9%
Public transit Unreliable estimate0%0%3%
Walk or bike Unreliable estimate1%2%3%
Work from home Unreliable estimate9%12%15%
Other means Unreliable estimate1%2%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

A household in Valley Falls has 2.48 people on average, about the same as in Spartanburg County (2.58).

In Valley Falls, 79% of workers drive alone to work; in Spartanburg County, 79%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Valley Falls?

A typical home costs more than the typical income allows

We start with a typical home in Valley Falls, worth $256,600, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 44% of the typical household income in Valley Falls, which is $55,661 a year. For that payment to be 28% of income, a household would need to earn about $86,994 a year.

The calculator's FHA and conventional loan limits are those of all of Spartanburg County.

Your numbers

Local data
$

Starts at the typical home value in Valley Falls. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $8,981 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,030

at 7.18% · 30 years

Loan amount
$251,952
Total interest
$362,500
Paid off in
November 2056

Includes $4,333 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,299 a month

  • Tight

    $1,299 to $1,670 a month

  • Hard

    more than $1,670 a month

    Your payment · 44%

Compared with the typical household income in Valley Falls ($55,661 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,030
Principal & interest$1,707
Property tax$103
Home insurance$107
FHA mortgage insurance (MIP)$113

You need at least $8,981 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Valley Falls and Spartanburg County

Valley Falls is in Spartanburg County, South Carolina. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Valley Falls's own numbers

Typical home value
$256,600
Typical monthly rent
$1,021
Typical yearly household income
$55,661
Households that own their home
51%
Effective property tax rate
0.48%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Spartanburg County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,196
Price change over 5 years (FHFA)
+62%
Homes in a high flood-risk zone
0.2%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Spartanburg County.

Everything about Spartanburg County

Buying

Buying a home in Valley Falls

A typical home in Valley Falls is worth $256,600: 10% above the county and about the same as South Carolina. With the typical household income in Valley Falls ($55,661 a year), a typical home costs 4.6 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Valley Falls 4.6 years
  • Spartanburg 3.5 years
  • South Carolina 3.7 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Spartanburg County

According to FHFA’s house price index, home prices in Spartanburg County rose 113% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Spartanburg County.

Period County South Carolina U.S.
Last year (2025) +3.5% +3.6% +2.9%
5 years (2020–2025) +62% +60% +47%
10 years (2015–2025) +113% +104% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Valley Falls next to Spartanburg County, South Carolina and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Valley Falls $256,600
  • Spartanburg $233,300
  • South Carolina $259,000
  • United States $332,700
Typical monthly rent
  • Valley Falls $1,021
  • Spartanburg $1,084
  • South Carolina $1,180
  • United States $1,413
Typical yearly household income
  • Valley Falls $55,661
  • Spartanburg $66,234
  • South Carolina $69,324
  • United States $80,734
See the full table
Valley Falls next to Spartanburg County and South Carolina
Measure Valley Falls Spartanburg County South Carolina U.S.
Typical home value $256,600 $233,300 $259,000 $332,700
Typical monthly rent $1,021 $1,084 $1,180 $1,413
Typical yearly household income $55,661 $66,234 $69,324 $80,734
Households that own their home 51% 73% 72% 65%
Typical yearly property tax $1,226 $1,274 $1,251 $3,119
Effective property tax rate 0.48% 0.55% 0.48% 0.94%
Renters with high rent for their income 49% 50% 52% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Spartanburg County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Valley Falls

For a typical $256,600 home in Valley Falls, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Valley Falls's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,030a month

    Least cash to close
    Down payment
    $8,981
    Cash to close
    $16,679
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $113

  • Conventional, 5% down $1,983a month

    Down payment
    $12,830
    Cash to close
    $20,528
    Rate
    7.18%
    Mortgage insurance
    PMI · $122

  • Conventional, 20% down, no PMI $1,600a month

    Down payment
    $51,320
    Cash to close
    $59,018
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,837a month

    Down payment
    $38,490
    Cash to close
    $46,188
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Valley Falls and for Spartanburg County.

Property tax

Effective rate in Valley Falls

0.48%of the home’s value each year

$1,226 a year for the typical owner in Valley Falls.

  • Valley Falls 0.48%
  • Spartanburg 0.55%
  • South Carolina 0.48%

What South Carolina publishes Special 4% assessment ratio for your legal residence (South Carolina General Assembly (South Carolina Code of Laws))

Exemptions and deadlines in South Carolina

Flood risk in Spartanburg County

FEMA does not publish these numbers by city: they are for all of Spartanburg County.

Homes in the high-risk zone
0.2%
190
Of those, with NFIP insurance
34%
County South Carolina U.S.
Homes in the high-risk zone 0.2% 4% 3.5%
Of those, with NFIP insurance 34% 85% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Valley Falls

Typical rent in Valley Falls is $1,021 a month: 6% below the county. In Valley Falls, 49% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Spartanburg County, by unit size. To pay the 2-bedroom one ($1,196 a month) without spending more than 30% of your income, you would need to earn $23.00 an hour working full time.

HUD fair market rent for all of Spartanburg County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,055 $20.29 $42,200
1 bedroom $1,099 $21.13 $43,960
2 bedrooms $1,196 $23.00 $47,840
3 bedrooms $1,457 $28.02 $58,280
4 bedrooms $1,722 $33.12 $68,880

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Valley Falls

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Valley Falls has 2 ZIP codes with their own.

For 2 bedrooms it runs from $1,150 in 29303 to $1,290 in 29316.

1 of the 2 is above the fair market rent for Spartanburg County ($1,196).

  • 29303 $1,150$1,400
  • 29316 $1,290$1,570

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Valley Falls when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Valley Falls

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 2 HUD-approved agencies with an office in Spartanburg County; none says it serves in Spanish.

A man smiles on a bench outside his apartment building.

HUD counseling is free or low-cost

Assistance programs in Valley Falls

No down payment, repair or rent-help program on our list is for Valley Falls or Spartanburg County. The ones below are statewide in South Carolina: they work in Valley Falls the same as in the rest of the state.

Which programs do I qualify for? All programs in South Carolina

  • Palmetto Home Advantage

    Statewide in South Carolina

    South Carolina state agency program with forgivable down payment assistance of 0%, 3% or 4% of the loan, with no monthly payments, for any buyer in all 46 counties. Offered by SC Housing (South Carolina State Housing Finance and Development Authority).

    Forgivable

    See the program Official page

  • SC Housing Homebuyer Program

    Statewide in South Carolina

    South Carolina state agency fixed-rate mortgage with forgivable help for the down payment, closing costs or prepaid expenses: a 0% second mortgage with no monthly payments, forgiven if you live in the home 15 years. Offered by SC Housing (South Carolina State Housing Finance and Development Authority).

    Forgivable

    See the program Official page

Housing counselors near Valley Falls

The HUD-approved agencies closest to the center of Valley Falls, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Regenesis Community Development Corporation F/K/A Upstate Housing Partnership

    430 E Main St, Spartanburg · 5 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 8 more
    (864) 504-3090

  • Telamon Corporation - Greenville Branch

    300A S Daniel Morgan Ave, Spartanburg · 5 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 7 more
    (919) 899-9911

  • Greenville County Human Relations Commission

    301 University Rdg, Greenville · 27 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 8 more
    (864) 467-7095

Every agency in Spartanburg County All counseling agencies in South Carolina

Help in Spanish near Valley Falls

None of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Valley Falls

In HUD’s record, no housing authority with an office in Spartanburg County is named for Valley Falls or Spartanburg County.

2 other authorities have an office in Spartanburg County: see the list Source: HUD

Cities

Other cities in Spartanburg County

These cities are also in Spartanburg County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Spartanburg County Housing in South Carolina

Nearby cities

The cities closest to Valley Falls, with the typical home value.

Neighboring counties

If Spartanburg County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Valley Falls.

All guides
A father and mother walk their son by the hand down the sidewalk.

Questions

Housing questions about Valley Falls

Short answers with the numbers for Valley Falls and all of Spartanburg County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Valley Falls?

The typical home value in Valley Falls is $256,600, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Spartanburg County it is $233,300.

How much does it cost to rent in Valley Falls?

Typical rent in Valley Falls is $1,021 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Spartanburg County is $1,196.

What is the FHA loan limit in Valley Falls?

Valley Falls uses the FHA limit for all of Spartanburg County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Valley Falls?

The typical homeowner in Valley Falls pays $1,226 a year, according to the U.S. Census Bureau. That is 0.48% of the home’s value; in Spartanburg County, the rate is 0.55%.

Where can I find free help to buy or rent in Valley Falls?

There are 2 HUD-approved counseling agencies with an office in Spartanburg County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).