Home Insurance in Gaffney, South Carolina
With a median home value of $137,700, Gaffney is close to the Cherokee County median.
The typical home in Gaffney was built around 1975. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 24% of homes were built before 1960, about 10 points above Cherokee County's 15%.
The housing stock in Gaffney is 67% single-family homes, 18% apartments in buildings with 5+ units and 2% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
In Gaffney, about 53% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Gaffney has an owner-occupancy rate of 51% and a vacancy rate of 14%; unoccupied homes typically need a different coverage form.
In Gaffney, 62% of homes are primarily heated with electricity.
FEMA rates Cherokee County's overall risk as Relatively Low, led by tornado (Relatively Moderate). Cherokee County had 25 active NFIP flood policies as of September 2026. See the full Cherokee County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in South Carolina carries a statewide average premium of $1,753 per year.
Key figures
| Median home value | $137,700 |
|---|---|
| Median year built | 1975 |
| Owner-occupied share | 51% |
| Share of owner-occupied homes with a mortgage | 53% |
| Top county hazard | Tornado (Relatively Moderate) |
| Active NFIP policies in Cherokee County | 25 |
| Home insurance premium | $1,753 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)