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 | $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 |
|---|---|---|---|---|
| 3BR | $1,470 | $247,741 | 0.59% | F |
| 4BR | $1,720 | $328,059 | 0.52% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 29078 in fiscal year 2024 is set at $1020. This figure represents the payment standard for Section 8 housing vouchers, meaning that tenants with vouchers will receive up to $1020 per month to cover their rent. It's important to note that this is not the amount you should charge for rent; it's the maximum amount the voucher program will pay.
In comparison, the local Zillow Observed Rental Index (ZORI) for 29078 is currently at $1,831. This indicates that the average market rent is significantly higher than the Section 8 payment standard. However, the 12.4% renter share in your area suggests a steady demand for affordable housing options. This demand can be met through Section 8 rentals, ensuring a consistent income stream despite the lower payment standard.
If you're considering acquiring a property for a Section 8 rental, the median home value in ZIP 29078 is around $255,914. This figure can help you estimate the potential investment cost. While the initial outlay might seem substantial, the guaranteed rental income from the voucher program can provide a reliable return on investment over time.
Before proceeding with a Section 8 rental, one key verification step is essential: ensure that the property meets all HUD (Department of Housing and Urban Development) standards for habitability and safety. This includes passing regular inspections, which are mandatory for properties participating in the Section 8 program. Failure to meet these standards can result in penalties and loss of rental assistance payments.
To summarize, while the FMR of $1020 is lower than the average market rent of $1,831, the strong demand for affordable housing indicated by the 12.4% renter share makes Section 8 rentals a viable option. The acquisition cost of approximately $255,914 should be weighed against the long-term benefits of stable tenancy and government-backed rental payments. Just make sure your property complies with HUD standards to avoid any issues.
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.