Location: Orangeburg County, SC | Metro: Orangeburg County, SC
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 | $860 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,310 | $150,140 | 0.87% | C |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 29039 are crucial for landlords and small-portfolio investors to understand. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is set at $1,210. This figure represents the maximum amount that the housing authority will pay to landlords participating in the Section 8 program.
In contrast, the local market rent for a two-bedroom unit in ZIP 29039 is significantly lower at $604 according to the latest Census ACS data. This discrepancy highlights the financial incentives for landlords to participate in the program, as they can potentially receive a higher rental income compared to the average market rate.
A Section 8 voucher does not cover the entire rent amount; it reimburses landlords for the difference between the tenant's contribution and the SAFMR. Tenants are generally required to pay 30% of their adjusted income towards rent. In ZIP 29039, if we assume an average market rent of $604, a tenant paying 30% would contribute approximately $181 per month. The remaining balance is covered by the voucher, which would be $1,029 in this scenario.
However, landlords must also consider utility allowances when calculating the total reimbursement. Utility allowances vary but typically range from $200 to $400 per month. If we factor in a utility allowance of $300, the total reimbursement from the voucher would be $1,329.
This means that landlords in ZIP 29039 could see a surplus when renting a two-bedroom unit under Section 8. With a SAFMR of $1,210 and a potential reimbursement of $1,329, landlords could charge up to the SAFMR level and still receive more than the average market rent, plus a utility allowance. Therefore, the typical reimbursement gap or surplus for a two-bedroom unit in this ZIP code is a surplus of $725 per month, calculated as the difference between the voucher reimbursement ($1,329) and the local market rent ($604).
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.