Location: Darlington County, SC | Metro: Florence, 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 | $860 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $62,428 | 1.62% | A+ |
| 3BR | $1,300 | $149,063 | 0.87% | C |
| 4BR | $1,430 | $255,806 | 0.56% | F |
U.S. Census Bureau data (2024)
ZIP code 29506, located in Florence, SC, sits within the Darlington County, SC HUD Metro FMR Area. Its Fair Market Rent (FMR) for FY 2024 stands at $910, while the average market rent is $1,064. The median home value is listed at $147,939, and 46.2% of its residents are renters.
Compared to typical ZIP codes within the Darlington County HUD Metro FMR Area, ZIP 29506 exhibits characteristics of a value pocket. This classification is supported by several factors:
The FMR of $910 is notably lower than the market rent of $1,064, indicating that there is potential for rental properties to be priced competitively without sacrificing profitability. This gap suggests that landlords can offer rents close to the FMR threshold while still achieving a margin above the HUD-set rate, which is advantageous for those participating in the Section 8 program.
The relatively low median home value of $147,939 makes it easier for investors to acquire properties at a cost-effective price point. This is particularly significant when considering the high renter share of 46.2%, which surpasses the national average and indicates a robust demand for rental housing. Such a high proportion of renters, combined with below-average home values, often points to an area where Section 8 vouchers are frequently used, creating a stable tenant base for landlords.
In summary, ZIP 29506 is well-positioned as a value pocket within its metro area. It offers a favorable balance between competitive property acquisition costs and the ability to charge rents near the FMR, all while benefiting from a substantial number of renters who may utilize Section 8 vouchers. This makes it a strategic location for landlords and small-portfolio investors seeking to maximize their investment returns within the parameters of the Section 8 program.
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.