Section 8 Fair Market Rent (FMR) for ZIP 29065 - 2027

Location: Columbia, SC | Metro: Columbia, SC HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$930
1 Bedroom	$1,050
2 Bedrooms	$1,150
3 Bedrooms	$1,470
4 Bedrooms	$1,720
5 Bedrooms	$1,995
6 Bedrooms	$2,234
7 Bedrooms	$2,413
8 Bedrooms	$2,534

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

605

Median Household Income

$49,225

Housing Units

363

Renter Percentage

12.8%

Occupancy Rate

81.5%

Renter Occupied

To determine if a landlord should buy in ZIP code 29065 for Section 8 purposes, follow this decision tree:

Does the Fair Market Rent (FMR) of $1020 cover the debt service on a property valued at $175,665?
- If yes, proceed to the next question.
- If no, do not invest in this area for Section 8.
Is the market rent above, at, or below the FMR?
- If the market rent is above the FMR, consider investing but be cautious about tenant preferences for Section 8.
- If the market rent is at the FMR, proceed to evaluate other factors.
- If the market rent is below the FMR, it may indicate low demand for non-Section 8 units, which could affect your investment strategy.
Are 12.8% of residents renters, and is the Days on Market (DOM) sufficient to ensure demand?
- If yes, there is enough demand for Section 8 properties. Continue your analysis.
- If no, the demand may not be high enough to support a Section 8 investment.

The Fair Market Rent (FMR) of $1020 must be compared against the debt service of a property priced at $175,665. This will reveal whether the rental income can sustain the mortgage payments and other expenses associated with the property. In ZIP 29065, with a rental rate of N/A, it's unclear how market rents compare to the FMR, thus making it difficult to assess the competitiveness of Section 8 rents in this area.

Regarding demand, 12.8% of residents being renters suggests a moderate level of interest in rental properties. However, the Days on Market (DOM) being listed as N/A means that without additional information on how quickly properties are rented out, the viability of the investment cannot be fully determined. A lower DOM indicates higher demand and quicker turnover, which is favorable for an investment strategy focused on Section 8 tenants.

In conclusion, if the FMR covers the debt service and there is sufficient demand indicated by a reasonable DOM, then the answer is yes. Otherwise, it depends on the additional details that clarify the market rent and DOM conditions.

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.