Location: Orangeburg County, SC | Metro: Orangeburg County, SC
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 | $640 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $890 |
| 3 Bedrooms | $1,050 |
| 4 Bedrooms | $1,160 |
| 5 Bedrooms | $1,346 |
| 6 Bedrooms | $1,508 |
| 7 Bedrooms | $1,629 |
| 8 Bedrooms | $1,710 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $890 | $75,179 | 1.18% | B |
| 3BR | $1,050 | $141,194 | 0.74% | D |
| 4BR | $1,160 | $217,113 | 0.53% | F |
| 5BR | $1,346 | $191,598 | 0.7% | D |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 29115, located in Orangeburg, SC, reveals a favorable environment for cashflow generation. The HUD Fair Market Rent (FMR) for the Orangeburg County County, Orangeburg County, SC metro area, set at $900 for fiscal year 2026, exceeds the market rent reported by the Census ACS at $826. This means that landlords participating in the Section 8 program can expect positive cashflow at the FMR level without needing to seek out premium units.
To further understand the investment landscape, consider the median home value in the area, which stands at $123,255. Using this figure, we can calculate the rent-to-price ratio, an important metric for assessing the attractiveness of rental properties relative to their purchase price. With a monthly rent of $826, the annual rent would be approximately $9,912, leading to a rent-to-price ratio of about 8.04%. This indicates that rental income represents a significant portion of the property's value, making it an appealing option for investors focused on generating steady cashflow.
The dynamics between renting and buying in ZIP 29115 also support the viability of Section 8 investments. The median Days on Market (DOM) is listed as N/A, suggesting either a lack of recent sales data or a very active market where homes sell quickly. Additionally, the share of homes that required a price cut of 0.2% underscores the stability of the housing market in this region. Rapid sales and minimal price adjustments indicate a robust local economy and strong demand for housing, both of which contribute to the overall stability of the rental market.
In conclusion, the strongest investor angle in ZIP 29115 is cashflow, given the positive spread between the HUD FMR and the market rent, combined with a favorable rent-to-price ratio and stable housing market conditions. This makes the area particularly attractive for landlords and small-portfolio investors looking to maximize their returns through rental income.
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.