Location: Clarendon County, SC | Metro: Sumter, SC MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $640 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $890 |
| 3 Bedrooms | $1,130 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
U.S. Census Bureau data (2024)
The ZIP code 29001 stands out due to its unique mix of relatively low rental rates and a higher median income compared to national averages. With only 2,339 residents, it's a small community where 26.9% of the population rents their homes. The median income in this ZIP is $65,250, while the median home value is notably high at $177,342.
This ZIP's rental market is particularly interesting when considering the housing voucher program. The Fair Market Rent (FMR) for ZIP 29001 in fiscal year 2024 is set at $920, which is significantly higher than the $680 average market rent reported by the Census Bureau's American Community Survey (ACS). This disparity means that landlords accepting vouchers can potentially receive higher rental payments than they would through market rates alone, making it a lucrative option for those willing to participate in the program.
The data signature of ZIP 29001 indicates a stable environment. Despite the higher FMR compared to market rates, the overall economic conditions suggest a steady demand for rental properties. The median income supports the ability of residents to afford rent, even if they do not receive a voucher. Landlords should consider the benefits of participating in the Section 8 program, as it could provide a consistent and reliable stream of rental income.
In summary, ZIP 29001 offers a balanced opportunity for landlords and small-portfolio investors. Its high median home value and median income levels create a stable foundation for rental investments. The voucher economics present an additional incentive, with the potential for higher rental income through the Section 8 program. Given these factors, the ZIP code appears to be a stable investment environment.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.