Location: Clarendon County, SC | Metro: Sumter, SC MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $640 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $890 |
| 3 Bedrooms | $1,100 |
| 4 Bedrooms | $1,310 |
| 5 Bedrooms | $1,520 |
| 6 Bedrooms | $1,702 |
| 7 Bedrooms | $1,838 |
| 8 Bedrooms | $1,930 |
U.S. Census Bureau data (2024)
910 FMR (zip FY 2024) stands as the benchmark for fair market rental rates in ZIP 29162, indicating that properties priced at this level or below are considered affordable. 666 market rent (Census ACS) reflects the average rent paid by tenants in the area, suggesting a significant gap between the market rate and the FMR, which could be advantageous for landlords participating in the Section 8 program. 164,624 median home value highlights the overall property value in the region, providing context for potential investments. 24.1% renter share underscores the demand for rental properties, making it a viable market for landlords. 61,979 median income points to the economic health of the area and the ability of residents to pay rent, even if subsidized. While N/A-day DOM and N/A% price-cut share indicate incomplete data on days on market and price cut shares, the other figures suggest a stable rental market. The discrepancy between the FMR and market rent signals a favorable environment for Section 8 landlords who can offer competitive rates without compromising profitability. Given these factors, landlords and small-portfolio investors should find ZIP 29162 a suitable location for Section 8 properties.
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.