Location: Bamberg County, SC | Metro: Bamberg County, SC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,130 |
| 4 Bedrooms | $1,200 |
| 5 Bedrooms | $1,392 |
| 6 Bedrooms | $1,559 |
| 7 Bedrooms | $1,684 |
| 8 Bedrooms | $1,768 |
U.S. Census Bureau data (2024)
The market in ZIP code 29003 presents a dynamic scenario that can be inferred from the current snapshot of data. The Fair Market Rent (FMR) stands at $920 for the fiscal year 2026, while the actual market rent is reported at $851 based on the latest Census American Community Survey (ACS) data. This indicates a slight gap between the FMR and the actual rental prices, suggesting that rents may be poised to rise slightly to meet the FMR.
A key indicator of market health is the price-cut share, which is currently at 0.1%. This figure suggests that very few landlords are lowering their rents to attract tenants, implying strong demand relative to supply. The fact that the days on market (DOM) is listed as N/A could mean that homes are selling quickly, often before being listed for an extended period, further supporting the notion of a robust buyer's interest.
The median home value in ZIP 29003 is $139,388, which provides insight into the overall affordability of the area. This value could be considered relatively low, potentially making it attractive for first-time homebuyers and those looking for affordable housing options.
The renter share, standing at 25.0%, offers significant context regarding long-term housing pressures. A quarter of the population renting indicates a segment of residents who may eventually transition to homeownership as they stabilize financially or seek more permanent living arrangements. This dynamic can create ongoing pressure on the housing market, as renters might become buyers over time, affecting both rental and home sales markets.
In summary, the data points towards a market where demand is likely keeping pace with, or even slightly exceeding, supply. The low price-cut share and quick sales suggest that there is a healthy level of competition among potential tenants and buyers, driving up the likelihood of maintaining or increasing rental rates and home values. The presence of a substantial renter population signals future opportunities for both rental income and home purchases, contributing to a vibrant and evolving real estate landscape in ZIP 29003.
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.