Location: Orangeburg County, SC | Metro: Augusta-Richmond County, GA-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 | $750 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,250 | $187,656 | 0.67% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 29137 are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment is set at $920 per month for fiscal year 2024. This SAFMR is specifically tailored to this ZIP code, reflecting the unique rental market conditions here. In contrast, the local market rent for a similar unit, based on Census ACS data, averages around $825.
A Section 8 voucher works by covering the difference between the tenant's portion of the rent and the total rent amount, up to the SAFMR. Typically, tenants are required to pay about 30% of their adjusted income toward rent. For simplicity, let's assume a tenant's portion is $276. This leaves a balance of $644 that would be covered by the voucher program.
However, landlords must also consider utility allowances when calculating the actual reimbursement they will receive. Utility allowances vary but generally cover a portion of electricity, gas, water, and sewer costs. If we factor in an average utility allowance of $200, the total reimbursement a landlord can expect from the voucher program increases to $844 per month.
To summarize, in ZIP 29137, a landlord with a two-bedroom property priced at the SAFMR of $920 can expect a reimbursement of $844 from the voucher program. This results in a reimbursement gap of $76 per month. However, if the market rent is closer to the average of $825, the landlord would have a surplus of $99 per month, assuming the same utility allowance and tenant contribution.
This gap or surplus is critical for landlords to understand when deciding whether to participate in the Section 8 program. It's important to note that these figures are based on the SAFMR for ZIP 29137 and do not apply uniformly across the broader county or metropolitan area. Landlords should adjust their expectations accordingly based on their specific location within the ZIP code.
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.