Location: Clarendon County, SC | Metro: Sumter, SC MSA
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 | $650 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $900 |
| 3 Bedrooms | $1,120 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,120 | $271,100 | 0.41% | F |
| 4BR | $1,340 | $351,364 | 0.38% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 29102 in Clarendon County, SC reveals several key points regarding its suitability for rental investments.
Firstly, the rent math does not work favorably. The Fair Market Rent (FMR) for the area, set at $940 for fiscal year 2024, is significantly higher than the actual market rent of $769 based on Census ACS data. This suggests that landlords may struggle to charge rents that match the FMR, leading to potential financial shortfalls if they rely on the higher figure.
Secondly, the acquisition cost of properties is relatively low, with a median home value of $188,988. However, the lack of data on days on market (DOM) and the fact that only 0.1% of listings involved price cuts indicate that the market might be stable but not highly active. This stability could mean slower property turnover and less opportunity for rapid resale gains.
Lastly, there is a reasonable tenant demand in the area. With a population of 15,698 and a renter share of 30.9%, the market supports a significant number of renters. This demand can sustain rental properties, although the percentage of renters is not exceptionally high, suggesting a moderate rather than robust demand.
In summary, while the acquisition cost is affordable and there is a decent level of tenant demand, the disparity between the FMR and actual market rent presents a challenge for landlords aiming to maximize their returns. The investment in this ZIP code should be approached with caution, focusing on properties that can attract the higher end of the market rent spectrum to avoid financial strain.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.