Location: Orangeburg County, SC | Metro: Columbia, SC HUD Metro FMR Area
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 | $930 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,470 | $139,716 | 1.05% | B |
U.S. Census Bureau data (2024)
The ZIP code 29112 is situated within a neighborhood characterized by a modest population size of 3,847 residents. The area has a relatively low percentage of renters at 21.7%, indicating that homeownership is prevalent among the community members. The median household income in this region stands at $50,195, which is reflective of a middle-class demographic. Additionally, the median home value is recorded at $121,834, suggesting that the housing market is affordable and accessible to many local residents.
When it comes to rental economics, the Federal Market Rent (FMR) for ZIP 29112 is set at $1020 for the fiscal year 2024. In contrast, the actual market rent, as reported by the Census Bureau's American Community Survey (ACS), is significantly lower at $682. This discrepancy between the FMR and the market rent presents an opportunity for landlords and small-portfolio investors to potentially increase their rental income by participating in the Section 8 Housing Choice Voucher program.
The area is well-suited for both hands-off voucher operators and hands-on value-add buyers. For those seeking a passive investment strategy, the difference between the FMR and the market rent offers a stable income stream without the need for extensive property management. On the other hand, hands-on investors can leverage the gap between these two figures to renovate properties and command higher rents, thereby maximizing their returns. However, given the low percentage of renters and the overall middle-class nature of the neighborhood, hands-on investors should focus on enhancing property quality to attract tenants willing to pay closer to the FMR rates.
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.