Location: Columbia, SC | Metro: Augusta-Richmond County, GA-SC HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $122,356 | 0.82% | C |
| 3BR | $1,260 | $214,895 | 0.59% | F |
| 4BR | $1,450 | $314,523 | 0.46% | F |
U.S. Census Bureau data (2024)
The ZIP code 29006, located in Batesburg-Leesville, South Carolina, presents an interesting scenario for both renters and landlords. The median household income in this area stands at $50,379 according to recent Census data. Meanwhile, the market rate for rent is $911 per month, which places a significant financial burden on the average resident. To put this into perspective, the monthly housing cost represents nearly 22% of the median annual income, which is a considerable portion of any household's budget.
Comparatively, the Fair Market Rent (FMR) for ZIP 29006 as set for fiscal year 2024 is $1,020. This figure is used to determine the payment standard for Section 8 Housing Choice Vouchers. While the FMR is higher than the market rate, it still falls short of what would be considered affordable for a household earning the median income. The affordability gap is stark; a household would need to allocate over 24% of their annual income to meet the FMR.
Batesburg-Leesville has a rental population of 21.2%, with a total population of 9,199. This means there are approximately 1,949 households renting in the area. Given the tight margins between income and rent costs, competition among landlords is likely to be fierce. Renters will be looking for deals that fit within their budget constraints, making it essential for landlords to understand the dynamics of local rental markets and the financial capabilities of potential tenants.
The takeaway for landlords considering whether to accept vouchers versus relying on cash-paying tenants is clear. While voucher payments at the FMR level may offer a more stable income stream due to government backing, the lower market rate suggests that many renters might struggle to pay even the $911 market price without assistance. Landlords who are flexible with voucher programs could attract a broader tenant base, particularly those who cannot afford market rates but still qualify for housing assistance. However, landlords should also be prepared to compete with others who are willing to offer lower rents to cash-paying tenants, balancing between financial stability and market demand.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.