Location: Lee County, SC | Metro: Kershaw County, SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 29009 reveals a moderate balance between yield and stability, making it neither a high-yield/low-stability flip-style market nor a purely steady-cashflow zone. The Federal Market Rent (FMR) for the area stands at $980 for the fiscal year 2024, while the market rent is higher at $1,064. This indicates that there is potential for above-average rental income compared to what the government deems fair, which can be seen as a positive yield indicator.
However, the median home value in the area is $168,819, which is relatively low. This figure suggests that the investment in properties could be less risky in terms of capital expenditure, but also implies that the potential for significant appreciation might be limited. The average household income in ZIP 29009 is $57,857, which provides insight into the economic profile of the residents and their ability to pay higher rents consistently.
The percentage of renters in the area is 17.2%, which is lower than the national average, pointing towards a less volatile tenant base. However, the lack of data on the number of days on market (DOM) for homes makes it difficult to fully assess the stability of the property market in terms of how quickly properties can be sold or rented out. Without this information, we cannot definitively state the level of stability in the turnover rate of properties.
In summary, ZIP 29009 offers a modest yield advantage with market rents exceeding the FMR, but the low percentage of renters and the absence of DOM data indicate a somewhat stable yet not highly dynamic market. Landlords and small-portfolio investors should consider the potential for rental income above the FMR, the lower risk associated with a smaller median home value, and the economic capability of residents indicated by the average income of $57,857.
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.