Location: Newberry County, SC | Metro: Newberry County, SC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,150 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
Newberry County, SC, encompasses several ZIP codes, each with unique characteristics that influence real estate investment decisions. ZIP code 29126 stands out with specific metrics that can be compared against the broader county to determine its market position.
The Fair Market Rent (FMR) for ZIP 29126 is set at $970 for fiscal year 2026, which is notably higher than the market rent figure of $829. This suggests that while the government's benchmark for rental affordability is above what the market naturally demands, it still offers a margin of profit for landlords participating in the Section 8 program. The market rent being lower indicates that there might be a segment of the population willing to pay less than the FMR, potentially making this area attractive for investors looking to balance between subsidies and market rates.
The median home value in ZIP 29126 is $295,375. When juxtaposed with typical home values in Newberry County, SC, this figure may indicate either a slightly elevated cost due to desirable features or a reflection of the general housing market conditions. If the home values in other ZIP codes are significantly lower, then 29126 could be considered a premium sub-market. Conversely, if home values across the county are similar, it would suggest that 29126 is more aligned with the mid-tier neighborhoods.
The renter share in ZIP 29126 is 9.8%, which is a critical metric for understanding the demand for rental properties. A higher renter share relative to the county average can signal a greater potential for rental income opportunities, especially if the home values are below the metro average. This combination often points to areas where tenants rely heavily on Section 8 vouchers, creating a sweet spot for landlords who can capitalize on the subsidy without the need for high property values.
To conclude, ZIP 29126 appears to be a mid-tier neighborhood within the Newberry County, SC metro, given its median home value. However, the higher FMR compared to market rent and the relatively high renter share make it an interesting area for Section 8-focused investments. Landlords should consider these factors when evaluating the potential returns and challenges associated with this ZIP code.
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.