Background: Clinical concerns about preventing and managing fractures after spinal cord injury (SCI) have been growing. Objective: This study investigates the risk of fractures among SCI patients according to the presence of disability, disease severity, and level of injury. Methods: We performed a retrospective cohort study using the Korean National Health Insurance Service (KNHIS 2010–2018) database. We included 5190 SCI patients and 1:3 age- and sex-matched control participants. The primary outcome was fracture, and the cohort was followed until December 31, 2019. Results: SCI patients had a higher fracture risk than the matched controls (adjusted hazard ratio [aHR] 1.33, 95 % CI 1.16–1.54). The risk of fracture was higher in the presence of disability (aHR 1.57, 95 % CI 1.19–2.07), especially among patients with severe disability (aHR 1.65, 95 % CI 1.05–2.60). Higher fracture risks were observed among SCI patients regardless of injury level, but statistical significance was found only with cervical-level injury. When we considered site-specific fractures, vertebral (aHR 1.31, 95 % CI 1.04–1.64) and hip fracture risks (aHR 2.04, 95 % CI 1.39–2.98) were both higher among SCI patients than the controls. SCI patients with disability and cervical-level injury showed the highest hip fracture risk (aHR 3.67, 95 % CI 1.90–7.07). Conclusions: Compared with the controls, SCI patients were at higher risk of any fracture, particularly hip fracture, especially those with disability and cervical-level injury. Clinicians should be aware of the fracture risk among SCI patients to provide proper management.