Location: Orangeburg County, SC | Metro: Orangeburg County, SC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $900 |
| 3 Bedrooms | $1,070 |
| 4 Bedrooms | $1,180 |
| 5 Bedrooms | $1,369 |
| 6 Bedrooms | $1,533 |
| 7 Bedrooms | $1,656 |
| 8 Bedrooms | $1,739 |
U.S. Census Bureau data (2024)
A household in ZIP code 29107, with a median income of $47,399, faces significant challenges in affording the market rate rent of $876 per month. This figure comes directly from the Census Bureau's American Community Survey (ACS) data. When considering the Fair Market Rent (FMR) set at $900 for the metro area in fiscal year 2026, it becomes evident that the gap between what residents earn and what they must pay for housing is substantial.
The median income suggests that a typical household would struggle to meet the market rate without dedicating a large portion of their earnings to rent. According to the commonly accepted guideline that no more than 30% of a household's income should go towards housing costs, a family earning the median income of $47,399 could only afford approximately $1,421 per month in total housing expenses. This amount is notably higher than both the market rate and the FMR, indicating a potential overestimation if solely based on income.
With 32.4% of the 2,646 residents being renters, there is considerable competition among landlords to attract tenants. The affordability gap means that many renters will seek assistance through housing vouchers, which cover a portion of the rent up to the FMR of $900. Landlords must weigh the benefits and drawbacks of accepting voucher payments versus relying on cash-paying tenants who might be willing to pay more but are limited by their financial capabilities.
The takeaway for landlords is clear: while accepting vouchers ensures a steady stream of rental income, it caps the maximum allowable rent at $900. Cash-paying tenants, though potentially paying closer to the market rate of $876, might be harder to find given the economic realities of the area. Landlords should consider diversifying their tenant mix to balance between financial stability and maximizing rental income.
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.