Location: Williamsburg County, SC | Metro: Clarendon County, SC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The dynamics of ZIP code 29111 present a market in motion, influenced by the interplay between federal guidelines and local rental realities. The Fair Market Rent (FMR) for the area stands at $910 for fiscal year 2024, indicating the benchmark set by the government for determining eligibility for housing assistance programs such as Section 8. In contrast, the actual market rent, as reported by the Census Bureau's American Community Survey (ACS), is slightly higher at $942. This suggests that landlords can charge above the FMR without necessarily deterring tenants, pointing to a market where demand might be keeping pace with supply.
The 16.0% renter share is a critical figure for understanding the long-term housing pressure in ZIP 29111. A lower percentage of renters compared to homeowners implies a relatively stable housing market, but it also indicates potential challenges for landlords and small-portfolio investors. With fewer residents opting for rental properties, landlords must ensure their offerings are competitive and attractive to maintain occupancy rates. However, the slight premium over FMR that landlords can command suggests that there is still a sufficient number of renters who find the area desirable, even if they do not qualify for Section 8 subsidies.
The lack of specific data on price-cut share and days on market (DOM) makes it challenging to pinpoint the exact balance between supply and demand. However, the fact that market rents exceed FMR suggests that there may be more demand than supply among those willing to pay above the subsidized rate. For landlords, this means that maintaining properties in good condition and offering amenities that appeal to a broader range of renters could help sustain higher rental rates.
In summary, ZIP 29111 presents a market where demand is robust enough to support rents slightly above the FMR, despite a smaller renter population. Landlords should focus on providing quality rental units that attract both subsidized and non-subsidized tenants to capitalize on this dynamic. The trajectory of the market will depend on how effectively landlords can meet the needs of renters and whether the overall rental environment continues to favor higher rates.
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.