NAICS 52

Finance and Insurance in Spartanburg, SC

Metro Market Score 27.9 (Favorable), ranked #31 of 331 metros. 456 establishments, 3,266 jobs.

Metro Market Score 27.9

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Favorable

ⓘ Lower is better. Relative to national finance and insurance average.

📈Rapid Growth✓Favorable Market🌱Emerging Market

Employment in Spartanburg's finance and insurance sector grew faster than most metros last year, pushing its growth trend index to 92.2. Combined with a 27.9 market score, this metro sits in the top 10% for overall conditions.

Industry Concentration

28.7

LQ: 0.49

Rank #95 of 331 metros

Wage Competitiveness

41.4

$85,181 avg wage

Growth Trend

↑ 92.2

Employment growth index

Rank #27 of 331 metros

Wage Pressure

40.1

YoY wage change index

456 Finance and Insurance Firms in Spartanburg

456

Establishments

+4.3% YoY

3,266

Total Employment

+6.3% YoY

$85,181

Average Annual Wage

+3.9% YoY

0.49

Location Quotient

Below national avg

Within South Carolina

#1 of 7

finance and insurance metros in state

South Carolina state rank

#16 of 51

for finance and insurance entry risk

vs State Median

-23.1

better than median (51.0)

Spartanburg vs South Carolina Statewide

How this metro's finance and insurance market compares to South Carolina overall. The state ranks #16/51 for entry risk.

Measure	Spartanburg	SC Statewide
Overall Score	27.9 Favorable	48.4 Elevated
Score Type	Metro Market Score	Entry Risk Score
Rank	#31 of 331 metros	#16 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Spartanburg

Professional, Scientific, and Technical Services 28.8 Healthcare and Social Assistance 30.4 Retail Trade 34.1 Construction 37.5 Administrative and Support Services 54.1 Real Estate and Rental and Leasing 58.0

Finance and Insurance in Other South Carolina Metros

Sumter 33.3 #65/331 Florence 47.3 #154/331 Greenville-Anderson-Greer 51.0 #181/331 Hilton Head Island-Bluffton-Port Royal 53.4 #204/331 Myrtle Beach-Conway-North Myrtle Beach 57.8 #234/331 Charleston-North Charleston 70.0 #295/331

Finance and Insurance Metros With Similar Conditions

Metros within 5 points of Spartanburg's 27.9 score. Useful when comparing markets with comparable entry profiles.

Ocala, FL 27.9 #32/331 Morgantown, WV 28.0 #33/331 Eagle Pass, TX 28.1 #34/331 Blacksburg-Christiansburg-Radford, VA 27.5 #30/331 Goldsboro, NC 27.5 #29/331 Brunswick-St. Simons, GA 27.3 #28/331 Laredo, TX 28.6 #35/331 El Centro, CA 28.6 #36/331 Twin Falls, ID 28.7 #37/331 Jonesboro, AR 27.0 #27/331

Finance and Insurance in States Bordering South Carolina

State-level entry risk for finance and insurance in adjacent states. Use this to weigh cross-border options.

North Carolina 48.4 #17/51 Georgia 56.4 #40/51

Browse Finance and Insurance in Other States

State-level entry risk reports for finance and insurance across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Spartanburg's finance and insurance sector, the wage competitiveness component (41.4) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Spartanburg, SC MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment