Location: Greenwood 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 | $780 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $110,084 | 0.93% | C |
| 3BR | $1,230 | $186,936 | 0.66% | D |
U.S. Census Bureau data (2024)
The classification of ZIP 29692, Ware Shoals, SC, hinges on the balance between yield and stability. With a Fair Market Rent (FMR) of $920 for the fiscal year 2024, it stands significantly above the local market rate of $737. This suggests a higher potential rental income per unit, especially when considering the disparity between the FMR and the actual market rate.
However, the stability of the area is less robust. The percentage of renters is 23.6%, indicating that a substantial portion of the population owns their homes rather than renting. This can lead to lower demand for rental properties, which in turn affects the stability of cash flow. Additionally, the median household income of $47,068 provides insight into the economic conditions of the area but does not directly correlate with rental stability without further context on unemployment rates or job market health.
The home value in ZIP 29692 is listed at $144,260, which is a key figure for assessing the overall cost of entry into the real estate market here. Given the relatively low income levels compared to the home values, there might be a challenge in finding tenants willing to pay the higher FMR, particularly if they are price-sensitive due to the economic conditions.
To summarize, ZIP 29692 leans towards being a high-yield/low-stability market. The significant gap between the FMR and the market rent suggests opportunities for higher returns, characteristic of a flip-style market where quick profits can be made. However, the low percentage of renters and the median income figures indicate a less stable environment for long-term investments, as the demand for rentals is not as strong as it would be in areas with higher percentages of renters.
Landlords and small-portfolio investors should carefully weigh these factors before entering the market. While the potential for high yields exists, the risk of vacancy and the difficulty in attracting tenants who can afford the higher rents must also be considered.
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.