News
November 19, 2025
Rising property values on Spartanburg's Northside create problems for some, opportunities for others
A Furman study commissioned by the Northside Development Group finds that property values are rising fast in the neighborhood. This puts renters at risk but could benefit homeowners.
**Rising property values on Spartanburg's Northside create problems for some, opportunities for others**
Spartanburg's Northside neighborhood is experiencing a significant shift in its real estate landscape, as property values are rapidly increasing. A recent study conducted by Furman University, commissioned by the Northside Development Group (NDG), highlights this trend, painting a picture of both challenges and potential benefits for residents. While homeowners could see their wealth grow, renters in the area face an uncertain future.
The study confirms what many in the community have already observed: the Northside is becoming a more desirable place to live, driving up the cost of housing. This surge in property values is largely attributed to ongoing revitalization efforts spearheaded by NDG and other community partners. Investments in infrastructure, new businesses, and community programs have made the Northside a more attractive neighborhood.
For homeowners, particularly those who have lived in the Northside for many years, the rising property values represent a significant opportunity. They may now have access to increased equity, which can be used for home improvements, retirement savings, or other financial goals. The study suggests that long-term residents who own their homes are poised to benefit substantially from this economic upturn.
However, the news is not as positive for renters. As property values rise, so too can rents. Landlords may be tempted to increase rental rates to capitalize on the booming market, potentially pricing out long-term residents who may not be able to afford the higher costs. This displacement, often referred to as gentrification, is a major concern for community advocates who fear that the Northside's unique character and diverse population could be eroded.
The NDG recognizes the challenges posed by rising property values and is actively exploring strategies to mitigate the negative impacts on renters. The organization is committed to preserving affordable housing options and ensuring that long-term residents can continue to call the Northside home. These strategies may include advocating for policies that protect renters, investing in affordable housing developments, and providing resources to help residents navigate the changing real estate market.
The Furman study provides valuable insights into the complex dynamics at play in the Northside. It underscores the need for a balanced approach that promotes economic development while safeguarding the well-being of all residents. The challenge now lies in finding solutions that allow the Northside to thrive without displacing those who have contributed to its vibrant community for years.
Spartanburg's Northside neighborhood is experiencing a significant shift in its real estate landscape, as property values are rapidly increasing. A recent study conducted by Furman University, commissioned by the Northside Development Group (NDG), highlights this trend, painting a picture of both challenges and potential benefits for residents. While homeowners could see their wealth grow, renters in the area face an uncertain future.
The study confirms what many in the community have already observed: the Northside is becoming a more desirable place to live, driving up the cost of housing. This surge in property values is largely attributed to ongoing revitalization efforts spearheaded by NDG and other community partners. Investments in infrastructure, new businesses, and community programs have made the Northside a more attractive neighborhood.
For homeowners, particularly those who have lived in the Northside for many years, the rising property values represent a significant opportunity. They may now have access to increased equity, which can be used for home improvements, retirement savings, or other financial goals. The study suggests that long-term residents who own their homes are poised to benefit substantially from this economic upturn.
However, the news is not as positive for renters. As property values rise, so too can rents. Landlords may be tempted to increase rental rates to capitalize on the booming market, potentially pricing out long-term residents who may not be able to afford the higher costs. This displacement, often referred to as gentrification, is a major concern for community advocates who fear that the Northside's unique character and diverse population could be eroded.
The NDG recognizes the challenges posed by rising property values and is actively exploring strategies to mitigate the negative impacts on renters. The organization is committed to preserving affordable housing options and ensuring that long-term residents can continue to call the Northside home. These strategies may include advocating for policies that protect renters, investing in affordable housing developments, and providing resources to help residents navigate the changing real estate market.
The Furman study provides valuable insights into the complex dynamics at play in the Northside. It underscores the need for a balanced approach that promotes economic development while safeguarding the well-being of all residents. The challenge now lies in finding solutions that allow the Northside to thrive without displacing those who have contributed to its vibrant community for years.
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Business