Location: Union County, SC | Metro: Union County, SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
The potential pitfalls of investing in ZIP 29364 for Section 8 properties include significant tenant turnover, which can be expected due to the close proximity between the market rent of $1,069 and the Fair Market Rent (FMR) of $1,050 for fiscal year 2026. This narrow margin may lead to frequent changes in occupancy as tenants seek better deals or move to areas where their vouchers cover more of the rent.
Vacancy exposure remains a concern, particularly when the Days on Market (DOM) data is unavailable. This lack of information makes it difficult to predict how long a unit might remain vacant between tenants, potentially leading to lost rental income during these periods. Additionally, the typical home value being unspecified creates uncertainty around the deferred maintenance costs that might arise. With a median household income of $25,089, there's limited financial buffer for landlords to cover unexpected repairs and maintenance without assistance from tenants, who are likely to have little disposable income for such purposes.
However, the high renter share of 18.9% indicates a robust demand for rental housing, which often translates into a higher concentration of voucher holders. This density suggests that even if individual tenants leave, finding new ones should be relatively straightforward, mitigating some of the turnover and vacancy risks.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 29364 is moderate.
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.