Location: Lee County, SC | Metro: Kershaw County, SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,100 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
The ZIP code 29032 is situated in a neighborhood characterized by a modest population of 4,687 residents, with 17.7% of them being renters. The median household income in this area stands at $58,168, reflecting a middle-class community. The median home value is notably lower at $169,632, indicating that homeownership is relatively affordable compared to other areas.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 29032 as of the fiscal year 2024 is set at $980. This figure contrasts with the actual market rent, which according to the Census Bureau's American Community Survey (ACS), is recorded at $898. This gap suggests that properties in this ZIP code could potentially be attractive to Section 8 investors looking to capitalize on the difference between the government-set rates and the local market conditions.
Given these parameters, ZIP 29032 fits well for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the area's stable rent environment and the discrepancy between FMR and market rent provide a reliable income stream without the need for active property management. On the other hand, for value-add buyers, the lower median home value presents opportunities to purchase properties at a discount and improve them, thereby increasing their rental value closer to the FMR while still benefiting from the Section 8 program's guaranteed payment structure.
In conclusion, the economic profile of ZIP 29032 supports a strategic investment approach for Section 8 investors. Whether aiming for passive income through voucher assistance or seeking to enhance property values, the current landscape offers viable options. The key lies in understanding the local market dynamics and leveraging the differences between FMR and actual rents to maximize returns.
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.