Gaffney, SC home prices
Typical home $189,617 · -2.4% in a year · income needed $50,700
The Gaffney, SC metro area ranks 682 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed -2.4% in a year and -7.0% over five years. With 20% down at 7.11%, the typical home costs about $1,184 a month including 0.43% property tax (Cherokee County rate).
Mortgage on the typical Gaffney home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $37,923 | $151,694 | $1,020 | $0 | $163 | $1,184 | $50,700 |
| 10% down | $18,962 | $170,656 | $1,148 | $71 | $163 | $1,382 | $59,200 |
| 5% down | $9,481 | $180,136 | $1,212 | $75 | $163 | $1,450 | $62,100 |
| 3.5% down (FHA) | $6,637 | $186,183 | $1,252 | $84 | $163 | $1,499 | $64,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.43% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Gaffney area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Cherokee County, SC | $189,612 | -2.5% | 0.43% |
What can you afford in South Carolina on your salary? · South Carolina home prices · Salaries in South Carolina
Frequently asked questions
How much is a house in Gaffney?
The typical home in the Gaffney, SC metro area is worth $189,617 (Zillow, September 2026).
What salary do you need to buy a house in Gaffney?
About $50,700 a year for the typical home with 20% down at 7.11%.