Location: Orangeburg County, SC | Metro: Columbia, SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
U.S. Census Bureau data (2024)
To classify ZIP 29030, we must consider both yield and stability factors. The yield can be assessed by comparing the Fair Market Rent (FMR) of $1020 with the median home value of $239,273. This suggests a rental market that is relatively strong compared to the property values, indicative of a decent yield potential.
The stability indicators include the percentage of renters at 11.3%, which is a low figure, suggesting that the majority of residents prefer homeownership over renting. This could imply less demand for rental properties and potentially higher vacancy rates, leading to lower stability.
However, the median household income of $80,313 provides some assurance regarding the ability of residents to pay rent, thereby adding a layer of financial stability to the rental market.
Given these figures, ZIP 29030 appears to fall into a category that is neither purely high-yield/low-stability nor a steady-cashflow zone. Instead, it represents a market with moderate yield potential but lower stability due to the low percentage of renters. The income level supports a reasonable cash flow, but the low rental rate suggests that the market might not be as consistently stable as one would hope for long-term investments.
A strategy for landlords and small-portfolio investors in ZIP 29030 should focus on balancing the potential for good returns against the risks associated with lower overall demand for rentals. It's advisable to target properties that offer value for money, ensuring they attract the limited pool of renters while maintaining a healthy cash flow.
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.