Location: Colleton County, SC | Metro: Colleton County, SC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,020 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The ZIP code 29452 presents an interesting scenario for both renters and landlords alike. Given the median household income of $113,164, it's important to consider how this stacks up against rental costs in the area. Unfortunately, the market rate for rentals is listed as N/A, which makes direct comparison challenging. However, we can look at the voucher payment standard to gain some insight.
In fiscal year 2026, the Fair Market Rent (FMR) for the metro area is set at $1,160. This figure represents the maximum amount that a Section 8 voucher will cover for rent in the area. For a household earning the median income of $113,164, the FMR of $1,160 would be relatively affordable, considering that such a household could likely pay much higher market rates without financial strain.
The ZIP code has a rental population of 318 individuals, representing 33.6% of the total population. This indicates a significant portion of the community relies on renting their homes. The affordability gap between the median income and the FMR suggests that there might be strong competition among landlords who accept vouchers, as renters with higher incomes have more flexibility to pay market rates. This competition could drive down the number of units available for voucher holders, making it less attractive for landlords to exclusively focus on voucher tenants.
Landlords in ZIP 29452 should consider a mixed strategy that includes both voucher and cash-paying tenants. While accepting vouchers can provide steady income and government support, focusing on higher-income households who can pay market rates could yield better returns. Understanding the local rental dynamics and the preferences of potential tenants is crucial for maximizing occupancy and profitability. Landlords should also keep an eye on future changes in the median income and FMR to adapt their strategies accordingly.
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.