Location: Newberry 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 | $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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,150 | $208,096 | 0.55% | F |
| 3BR | $1,470 | $261,076 | 0.56% | F |
| 4BR | $1,720 | $424,314 | 0.41% | F |
| 5BR | $1,995 | $680,191 | 0.29% | F |
U.S. Census Bureau data (2024)
Newberry County, SC encompasses several ZIP codes, each with distinct characteristics in terms of rental market and housing values. ZIP code 29070, located within this county, presents a unique profile that can be analyzed against broader county metrics to determine its market position.
The Fair Market Rent (FMR) for ZIP 29070 is set at $1020 for fiscal year 2024. This figure represents the upper limit for what low-income families should pay for housing under the Section 8 Housing Choice Voucher program. In comparison to the average market rent of $932, it suggests that while rents in 29070 are slightly higher than the market average, they remain within reach for voucher holders. The market rent is lower than the FMR, indicating that landlords in 29070 might have some flexibility in setting rent prices without exceeding the subsidy threshold.
The median home value in ZIP 29070 stands at $262,706, which is notably above the typical home values seen across other ZIP codes in Newberry County. This elevated valuation points towards a premium sub-market status for 29070, suggesting it may offer better amenities, larger homes, or superior location compared to surrounding areas.
A key metric for Section 8 analysts is the percentage of renters. ZIP 29070 has a 13.1% renter share, which is relatively low. This indicates that homeownership is more prevalent in this area, possibly due to its higher home values. However, the presence of a lower-than-average renter share alongside higher-than-average home values does not necessarily signal a "sweet spot" for Section 8 vouchers. A sweet spot typically involves a high renter share with below-average home values, suggesting an area where both voucher holders and landlords find favorable conditions.
In summary, ZIP 29070 appears to be a premium sub-market within Newberry County, characterized by higher home values and slightly elevated rents. While the renter share is lower, this does not indicate a sweet spot for Section 8 vouchers based on the given data. Landlords and investors should consider the potential for higher returns and property appreciation in this area, but also recognize the challenges associated with attracting tenants in a market where homeownership is more common.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.