Location: Spartanburg, SC | Metro: Spartanburg, SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
The ZIP code 29336, located in Spartanburg County, South Carolina, presents an interesting real estate market for landlords and small-portfolio investors. Based on the available data, we can classify this area on two key axes: yield and stability.
Yield: The Fair Market Rent (FMR) for ZIP 29336 in fiscal year 2024 is set at $1,140 for a single-family home. This figure suggests that rental properties in this area can generate a decent cash flow. However, without specific market rent and home value data, it's challenging to determine if this represents a high-yield opportunity compared to the broader market. The FMR serves as a benchmark, indicating that rental properties should aim to stay competitive with this rate to maximize returns.
Stability: Stability in this context refers to factors such as the percentage of renters, days on market (DOM), and average income levels. Unfortunately, the data provided does not include these specifics for ZIP 29336. Without this information, it's difficult to assess the stability of the market accurately. Typically, a higher percentage of renters and lower DOM indicate a stable market, while higher income levels suggest a more financially secure tenant base.
To conclude, ZIP 29336 appears to offer a moderate yield potential, given the FMR of $1,140 for a single-family home. However, the lack of detailed market data makes it challenging to definitively classify the stability of the market. Investors should conduct further research into local rental trends and economic conditions to make informed decisions about the potential risks and rewards of investing in this area.
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.