Section 8 Fair Market Rent (FMR) for ZIP 29041 - 2027

FY 2027 Fair Market Rent Rates

Davis Station, SC (ZIP 29041) is a medium-sized community with a population of 14,041 residents. It has a median household income of $44,041, which is 100.1% higher than the state average. The median home value in Davis Station is $157,754, also 100.3% above the state average. While the exact percentage of renters is not specified, the median rent is $1,223, significantly higher than the Fair Market Rent (FMR) set for the ZIP code in fiscal year 2024, which is $910.

The area is characterized by a young and dynamic population with a median age of 28.82 years. Despite the relatively high median rent compared to the FMR, the cost of living index in Davis Station is 59, lower than the national average of 100. This means that your dollar stretches further here, translating to higher disposable income and potentially better quality of life.

Given the high median rent relative to the FMR, Davis Station may be more suitable for hands-on value-add buyers who can manage properties actively. For those seeking a hands-off approach, the discrepancy between market rents and FMR might present challenges in attracting tenants solely through vouchers. However, the below-average cost of living and above-average household income suggest that there could still be opportunities for hands-off operators willing to adjust their pricing strategies.

To conclude, Davis Station offers a mix of affordability and vibrancy, making it a compelling location for both hands-on and hands-off investors, depending on their tolerance for managing rent gaps and their willingness to engage with the local market dynamics.

Data Sources: FMR data from HUD (2027).

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.