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 | $226,232 | 0.65% | D |
U.S. Census Bureau data (2024)
The ZIP code 29135 stands out within its county due to a unique combination of demographic and economic factors. With a population of 8,294 residents, this area has a rental rate of 18.1%, indicating a moderate reliance on rented properties. The median income here is $49,396, which is relatively low compared to the median home value of $177,496, suggesting that homeownership is more expensive relative to earnings.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 29135 in fiscal year 2024 is set at $1,020, slightly below the market rent of $1,043 according to Census ACS data. This means that landlords accepting Section 8 vouchers will see a minor decrease in rental income compared to the market rate, but the difference is minimal and likely won't significantly impact profitability.
Despite the low median income, the voucher system helps ensure that tenants can afford their rent. However, the high median home value indicates that the cost of living is relatively high, which could pose challenges for voucher holders seeking affordable housing options. Landlords should be aware that while the voucher amount is close to market rates, they may still face competition from higher-end rentals that do not accept vouchers.
Overall, the data signature for ZIP 29135 reads as stable. The slight disparity between FMR and market rents suggests a balanced environment where both voucher holders and market-rate renters coexist without significant disruption to the local housing market. For small-portfolio investors, this stability provides a predictable investment climate, though they must remain attentive to any shifts in local economic conditions that could affect the balance between rental demand and supply.
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.