Location: Laurens 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 | $840 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,070 | $131,979 | 0.81% | C |
| 3BR | $1,270 | $226,397 | 0.56% | F |
| 4BR | $1,500 | $293,431 | 0.51% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP 29360, which encompasses Laurens, SC, and parts of Laurens County, are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for FY 2024 is set at $960. This SAFMR figure is crucial because it determines the maximum amount that the housing authority will pay on behalf of a tenant.
Local market rents, according to the Census ACS, run slightly lower at $835 for a two-bedroom unit. However, landlords should understand that the actual reimbursement they receive from a Section 8 voucher depends on several factors beyond just the SAFMR.
A voucher payment includes the tenant's portion of the rent plus utility allowances. Typically, the tenant is responsible for paying 30% of their adjusted income toward rent. For instance, if a tenant has an adjusted income of $1,000 per month, they would pay $300 toward rent. The housing authority then covers the difference between the tenant's contribution and the SAFMR, up to $960. Utility allowances vary but generally add around $150 to $200 to the total monthly reimbursement.
To illustrate, let’s assume a two-bedroom apartment is listed at the SAFMR rate of $960. If the tenant’s portion is $300, the housing authority would cover the remaining $660. With an additional utility allowance of approximately $175, the landlord receives a total of $835 ($300 + $660 + $175).
This scenario shows that even when a property is priced at the SAFMR, the landlord still receives the local market rent of $835. In other words, there is no significant surplus or gap when the market rent matches the tenant’s contribution and the utility allowance.
However, if the market rent is higher than the SAFMR, the landlord might face a reimbursement gap. Conversely, if the market rent is lower than the SAFMR, the landlord could receive a surplus. Given that the SAFMR is $960 and the local market rent is $835, landlords in ZIP 29360 can expect a slight surplus of $125 per month for a two-bedroom unit, assuming the tenant’s income and utility usage align with average figures.
Landlords must also be aware that the SAFMR is subject to change annually based on HUD assessments, so future adjustments to the SAFMR could impact the surplus or gap.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.