Location: Marlboro County, SC | Metro: Marlboro County, SC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,080 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 29570 are straightforward. The SAFMR (Standard Amount for Moderate Rehabilitation) for a two-bedroom unit is set at $900 for the fiscal year 2026. This figure represents the maximum amount that the Housing Choice Voucher program will pay for rent in this specific ZIP code. However, it's important to note that the local market rent for a two-bedroom unit is significantly lower, running at $588 according to the latest Census ACS data.
A landlord participating in the Section 8 program should understand how the reimbursement works. The voucher pays the difference between the tenant's contribution and the SAFMR, but only up to the SAFMR limit. Tenants are typically required to contribute 30% of their adjusted income towards rent. If we assume an average adjusted income of $1,000 per month, the tenant would contribute $300. The remaining amount, up to the SAFMR of $900, would be covered by the voucher program. Therefore, in this scenario, the voucher would pay $600 ($900 - $300).
In addition to the base rent, there are utility allowances. These allowances vary based on the type of utilities used (electric, gas, etc.) and the size of the unit. For a two-bedroom unit, the utility allowance can range from $100 to $200. This allowance is also paid by the voucher program directly to the landlord, further supplementing the total reimbursement received.
To illustrate, if a landlord charges $900 for rent and includes a $150 utility allowance, the total reimbursement from the voucher program would be $750 ($600 base rent + $150 utilities). This means the landlord would receive $750 from the voucher program and $300 from the tenant, totaling $1,050. However, since the market rent is $588, the landlord would effectively be receiving more than the market rate, indicating a surplus.
The typical reimbursement gap or surplus for a two-bedroom unit in ZIP 29570 can be calculated as follows: the total reimbursement ($750) plus the tenant's contribution ($300) equals $1,050. Subtracting the market rent ($588) from this total gives a surplus of $462 per month. This surplus is significant and indicates that landlords in ZIP 29570 could potentially earn well above the local market rate when accepting Section 8 vouchers.
For small-portfolio investors, this surplus provides a strong incentive to participate in the Section 8 program. It ensures a steady and predictable income stream that exceeds the average market rent, making it a financially viable option despite the additional administrative requirements.
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.