Location: Columbia, SC | Metro: Columbia, SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,020 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
The ZIP code 29224 in Columbia, SC, presents a balanced market for both yield and stability. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1290. This figure, combined with the median home value of $174,596, suggests a moderate yield opportunity for landlords and small-portfolio investors. While the median home value is relatively stable, the median rent has seen a significant increase over the past five years, rising from $993 to $1,197, a growth rate of +20.5%.
On the stability axis, the median age of residents is 32.5 years, indicating a young, dynamic community with potential for sustained growth. However, specific figures for the percentage of renters, days on market (DOM), and income levels were not provided. Based on the available data, the community scores moderately on safety with a safety score of 56/100, suggesting there is room for improvement in this area.
The cost of living index in 29224 is 59, lower than the national average of 100, which means expenses are relatively low compared to other parts of the country. This can be beneficial for maintaining cash flow and reducing operational costs for landlords.
In summary, ZIP 29224 is neither a high-yield/low-stability flip-style market nor a purely steady-cashflow zone. It falls somewhere in between, offering moderate yield potential and reasonable stability. Investors should consider the growing rental market and the relatively low cost of living when evaluating this ZIP code for investment opportunities.
Data Sources: FMR data from HUD (2027).
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.