Location: Columbia, SC | Metro: Augusta-Richmond County, GA-SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
The ZIP code 29105 stands out in its county with a population of 1,621 residents, where 14.7% are renters. The median income here is $94,444, which is relatively high compared to other ZIP codes, indicating a strong economic base among the residents. However, the median home value of $139,716 suggests that homeownership is still attainable for many within this income bracket.
Moving to the specifics of Section 8 housing, the Fair Market Rent (FMR) for ZIP 29105 in fiscal year 2024 is set at $1,020. This figure is slightly below the market rent, which is recorded at $1,063 according to the Census Bureau's American Community Survey (ACS). This discrepancy means that landlords accepting Section 8 vouchers in this area will receive a rental amount that is just under the market rate, but still provides a competitive return on investment.
In terms of voucher economics, the gap between the FMR and the market rent indicates that landlords can expect a slight difference in income when compared to market-rate rentals. However, the stability provided by government-backed vouchers can offset this minor shortfall, ensuring consistent and reliable rental payments. For small-portfolio investors, the lower risk associated with Section 8 tenants might outweigh the small reduction in rental income.
The data signature of ZIP 29105 reads as stable. With a well-defined median income and home values, there is little indication of significant change in the near future. The rental market, while not booming, appears to be steady, making it a good location for long-term investments. Landlords should be aware of the slight disparity between FMR and market rents but can confidently expect a stable tenant base through the Section 8 program.
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.