Location: Newberry County, SC | Metro: Laurens County, 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 | $980 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,410 | $357,862 | 0.39% | F |
U.S. Census Bureau data (2024)
In ZIP code 29332, the economics of Section 8 housing can be clearly understood by examining the Subsidized Average Fair Market Rent (SAFMR) and comparing it to the local market rent. For fiscal year 2024, the SAFMR for a two-bedroom apartment in this specific ZIP code is set at $970. This figure represents the maximum amount the government will subsidize for a rental unit of this size.
The SAFMR does not take into account the local market rent, which is currently unavailable for ZIP 29332. However, this lack of data does not impact the Section 8 payment structure, as it operates independently of the local market conditions. Landlords participating in the program should note that the SAFMR is specific to this ZIP code and does not apply uniformly across other areas.
A Section 8 voucher works by covering the difference between the tenant's portion of the rent and the total rent. The tenant is typically responsible for paying 30% of their adjusted income towards rent. In ZIP 29332, if a tenant has an adjusted income of $1,617 per month (the median income for a household of four), they would pay $485 towards the rent. The remainder, up to the SAFMR of $970, is covered by the Housing Choice Voucher Program.
In addition to the base rent subsidy, the program also includes utility allowances. These allowances vary but generally cover a portion of the tenant's electricity, gas, water, and sewer costs. For ZIP 29332, the utility allowance can add approximately $200 to the monthly subsidy, bringing the total potential reimbursement to $1,170 when combined with the base rent of $970.
Given that the SAFMR is $970 and assuming the utility allowance is around $200, the typical reimbursement for a two-bedroom apartment in ZIP 29332 would be $1,170. If the local market rent were higher than $970, landlords would face a reimbursement gap, meaning they would receive less than the market rent. Conversely, if the market rent is lower than $970, landlords might see a surplus, where the voucher pays more than the market rate.
To conclude, landlords in ZIP 29332 can expect a reimbursement of $1,170 for a two-bedroom apartment when all factors including the tenant's portion and utility allowances are considered. Without specific local market rent data, it is impossible to determine if this will result in a surplus or a gap for individual properties, but it provides a clear benchmark for the program's financial contribution to rental payments.
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.