Location: Newberry County, SC | Metro: Newberry County, SC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,120 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 29145 in metro FY 2026 is set at $980. This figure represents the payment standard for Section 8 rentals in this area, which means it's the maximum amount that the Housing Choice Voucher program will pay towards your tenant's rent. It's important to note that this is not the rent you'll charge your tenants; it's the ceiling on what the government will contribute.
To put this into perspective, the local median rent in ZIP 29145 is currently N/A. The FMR being set at $980 suggests that the government has determined this to be a reasonable estimate for the typical market rent in this area. However, since the local median rent is not available, you should conduct your own research to ensure your rent aligns with the actual market conditions.
The 18.1% renter share indicates that nearly one-fifth of the households in ZIP 29145 are renters. This points to a significant demand for rental properties in the area, making it a viable option for landlords looking to enter the market. While the acquisition cost of properties in ZIP 29145 is listed as N/A, you can expect that the cost of buying or building a rental property will need to be considered against the income potential from Section 8 tenants.
Before proceeding with a Section 8 rental in ZIP 29145, you must verify that your property meets the Housing Quality Standards (HQS). These standards ensure that the rental unit is safe, decent, and sanitary. They cover a wide range of criteria including structural soundness, heating, plumbing, and electrical systems. Ensuring compliance with HQS is critical because it directly affects whether you can participate in the Section 8 program.
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.