Section 8 Fair Market Rent (FMR) for ZIP 29062 - 2027

Location: Sumter, SC | Metro: Sumter, SC MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$860
1 Bedroom	$960
2 Bedrooms	$1,170
3 Bedrooms	$1,420
4 Bedrooms	$1,740
5 Bedrooms	$2,018
6 Bedrooms	$2,260
7 Bedrooms	$2,441
8 Bedrooms	$2,563

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$N/A

Housing Units

Renter Percentage

N/A

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 29062, located in Sumter County, South Carolina, encompasses parts of the city of Sumter and surrounding rural areas. This region is characterized by its blend of urban amenities and suburban tranquility, offering a stable environment for both residents and investors.

Fair Market Rent (FMR): The Fair Market Rent for ZIP 29062 is set at $1030 for fiscal year 2024, indicating a modest but steady rental market.
Renter Share: With a renter share of 0.0%, it's clear that the majority of residents in this area prefer homeownership over renting, which could affect the demand for rental properties.
Median Home Value: The median home value is currently unavailable, but given the low renter share, it suggests a strong preference for owning homes in this community.
Days on Market (DOM): The average days on market for listings is also not available, making it difficult to assess how quickly properties sell in this area.
Median Income: Similarly, the median income figure is missing, which would be crucial for understanding the financial capacity of potential tenants or buyers.

In summary, while the Fair Market Rent provides a baseline for rental expectations, the lack of data on median home values, days on market, and median income limits a comprehensive analysis. Landlords and small-portfolio investors should focus on the stability offered by the local economy and the preference for homeownership among residents. However, without additional metrics, it's challenging to provide a detailed investment strategy. Further research into local economic trends and property sales will be necessary to make informed decisions.

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.