Quick facts: Pacolet, SC

Quick Facts

102.3
Cost of Living
above US average
2,402
Population
14.57
Crime Rate per 1000
below US average
$44,894
Median Income
below US average
$129,000
Median House Price
above US average
$1175.0
Average Rent
below US average
17%
Poverty Rate
above US average
4.5%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $44,894.

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Income Needed to Buy

βœ“ Affordable
$40k/year
Based on $129,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($44,894) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$50k/year
Based on $1175.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $50k vs median $44,894
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Pacolet, SC

Pacolet is a charming small town located in Spartanburg County, South Carolina. Nestled in the picturesque foothills of the Appalachian Mountains, it offers a blend of Southern hospitality and a tight-knit community feel. With a population of around 2,500 residents, Pacolet is known for its rich history and serene landscapes. The town is characterized by its historic buildings, including the Pacolet Mill, which plays a significant role in its industrial heritage. Nature enthusiasts will appreciate the nearby Pacolet River, offering opportunities for fishing, kayaking, and hiking along scenic trails. The town hosts various community events throughout the year, fostering a vibrant local culture. Pacolet is conveniently located near larger cities such as Spartanburg and Greenville, providing residents with easy access to shopping, dining, and entertainment options while maintaining a peaceful small-town lifestyle. With its friendly atmosphere and beautiful surroundings, Pacolet is an ideal spot for those seeking a quieter way of life in South Carolina.

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