Location: Kershaw County, SC | Metro: Columbia, SC HUD Metro FMR Area
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 | $1,130 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,330 | $250,596 | 0.53% | F |
| 3BR | $1,640 | $264,285 | 0.62% | D |
| 4BR | $1,980 | $335,088 | 0.59% | F |
| 5BR | $2,297 | $435,044 | 0.53% | F |
U.S. Census Bureau data (2024)
ZIP code 29045, located in Elgin, SC, falls within the Kershaw County, SC HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 29045 is set at $1,390 for fiscal year 2024. This FMR figure is lower than the market rent of $1,727, indicating that rental properties priced at or near the FMR could be attractive to tenants eligible for Section 8 subsidies.
The median home value in ZIP 29045 is $297,188. This figure is indicative of the overall housing costs in the area but does not necessarily reflect the rental market dynamics. The renter share of the population in ZIP 29045 stands at 14.8%, which is slightly above the average for the county, suggesting a modest demand for rentals.
Comparatively, typical ZIP codes within the Kershaw County, SC HUD Metro FMR Area would have similar characteristics, but the exact figures can vary. For instance, if other ZIP codes in the area have higher home values and lower renter shares, ZIP 29045 could be considered a value pocket within its metro. Conversely, if other ZIP codes have lower home values and higher renter shares, ZIP 29045 might represent a mid-tier neighborhood.
A notable aspect of ZIP 29045 is the combination of a relatively low FMR compared to the market rent and a modestly higher-than-average renter share. This divergence, where there is a significant gap between the FMR and market rent alongside a slightly elevated renter share, often signifies a sweet spot for Section 8 landlords and investors. Properties priced at the FMR level can attract subsidized tenants while still being below the market rate, providing a balance between accessibility and profitability.
In summary, ZIP 29045 appears to offer a mix of value and opportunity for those involved in the Section 8 housing program. It presents a scenario where landlords can offer affordable rents that align with subsidy limits, while also benefiting from a slightly elevated tenant demand relative to the broader county context.
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.