Section 8 Fair Market Rent (FMR) for ZIP 29355 - 2027

Location: Newberry County, SC | Metro: Laurens County, SC HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$780
1 Bedroom	$790
2 Bedrooms	$1,020
3 Bedrooms	$1,230
4 Bedrooms	$1,470
5 Bedrooms	$1,705
6 Bedrooms	$1,910
7 Bedrooms	$2,063
8 Bedrooms	$2,166

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

841

Median Household Income

$58,500

Housing Units

364

Renter Percentage

13.7%

Occupancy Rate

100.0%

Renter Occupied

ZIP code 29355, located in the heart of South Carolina, offers a stable and predictable real estate market for both landlords and small-portfolio investors. The area benefits from a mix of residential and commercial properties, providing diverse investment opportunities.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 29355 for fiscal year 2024 is set at $990, indicating a solid rental price point that aligns well with the local economy.
The average market rent, as per the latest Census American Community Survey (ACS), stands at $782. This figure suggests that the actual rents being charged are below the FMR, leaving room for potential increases.
The median home value in ZIP 29355 is $202,181, which is a reasonable entry point for investors looking to purchase properties without overextending their budgets.
Renters make up 13.7% of the housing market, showing that while homeownership is prevalent, there is still a significant portion of the population that relies on rental properties.
The median household income in the area is $58,500, providing insight into the financial capacity of potential tenants to afford rent payments.

Synthesizing these data points, ZIP 29355 presents a balanced opportunity for real estate investment. With the Fair Market Rent exceeding the average market rent, there's potential for increasing rental income without pricing out the majority of tenants. The median home value offers a realistic cost basis for acquiring properties, while the median income suggests that most residents can manage rent payments at or near the FMR. Despite the relatively low renter share, the stability of the market makes it a reliable choice for investors seeking consistent returns.

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.