Location: Colleton County, SC | Metro: Bamberg County, SC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $640 |
| 1 Bedroom | $680 |
| 2 Bedrooms | $890 |
| 3 Bedrooms | $1,090 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
U.S. Census Bureau data (2024)
The ZIP code 29081 presents a dynamic rental market with specific characteristics that inform its trajectory. The Fair Market Rent (FMR) for the area is set at $900 for fiscal year 2026, indicating a benchmark that landlords can use to price their units competitively. In contrast, the actual market rent reported by the Census Bureau's American Community Survey (ACS) is currently at $638. This discrepancy suggests that the market rent is below the FMR, which could be due to various factors including an oversupply of rental units or lower-than-average income levels among residents.
The median home value in ZIP 29081 is $163,493, reflecting the overall affordability of homeownership in the area. However, with a 24.5% renter share, it becomes evident that a significant portion of the population prefers or is compelled to rent rather than buy. This high percentage of renters implies sustained long-term housing pressure, as a substantial number of residents are likely to continue renting due to financial constraints or other reasons.
The lack of data on price-cut share and days on market (DOM) makes it challenging to definitively state whether supply outpaces demand or vice versa. However, the gap between the FMR and the current market rent hints at potential upward pressure on rents if the market adjusts to meet the FMR. Landlords and small-portfolio investors should closely monitor local economic conditions and tenant preferences to anticipate changes in the rental landscape.
In summary, ZIP 29081 is characterized by a rental market that is currently underserved relative to the FMR, with a notable percentage of renters suggesting ongoing housing pressure. Investors should consider these factors when evaluating the potential returns and risks associated with properties in this area.
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.