Location: Oconee County, SC | Metro: Oconee County, SC
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 | $650 |
| 1 Bedroom | $680 |
| 2 Bedrooms | $890 |
| 3 Bedrooms | $1,080 |
| 4 Bedrooms | $1,210 |
| 5 Bedrooms | $1,404 |
| 6 Bedrooms | $1,572 |
| 7 Bedrooms | $1,698 |
| 8 Bedrooms | $1,783 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $680 | $145,967 | 0.47% | F |
| 2BR | $890 | $182,580 | 0.49% | F |
| 3BR | $1,080 | $276,478 | 0.39% | F |
| 4BR | $1,210 | $406,745 | 0.3% | F |
| 5BR | $1,404 | $609,172 | 0.23% | F |
U.S. Census Bureau data (2024)
The ZIP code 29693, located in Westminster, SC, represents a modest opportunity for landlords interested in attracting Section 8 tenants. With a population of 15,114, approximately 17.9% of residents are renters, indicating a relatively balanced mix between homeowners and renters. The median household income stands at $54,503, which provides a baseline for understanding the economic context of the area.
The average market rent in Westminster is $776, which equates to roughly 14.2% of the median household income. This figure suggests that Westminster's rental market is affordable for many of its residents, especially when compared to the Fair Market Rent (FMR) of $910 for the fiscal year 2026, which is set for the metro area. The FMR serves as a benchmark for the maximum rent that a landlord can charge for a Section 8 voucher, implying that Westminster's market rent is below the FMR, offering some flexibility for landlords to adjust their rents to attract voucher holders.
In terms of voucher demand, Westminster's renter percentage of 17.9% is not exceptionally high, but it still presents a viable tenant pool for those who wish to participate in the Section 8 program. Landlords should be aware that while there is demand for vouchers, the supply might not be as robust as in larger urban areas with higher concentrations of renters.
A landlord in Westminster can expect tenants who are likely to be low-income individuals or families. These tenants will rely on housing vouchers to cover a significant portion of their rent. Given the local median income and the market rent, these tenants would typically allocate less than 15% of their income towards housing costs, which aligns well with the federal guidelines that aim to ensure housing affordability.
To summarize, ZIP 29693 in Westminster, SC, offers a moderate potential for landlords seeking to engage with Section 8 tenants. While the area is not dominated by renters, it does present an accessible market where typical rents are lower than the FMR, making it easier for voucher holders to find suitable housing. Landlords should prepare for a tenant base that includes low-income households and understand the importance of maintaining properties to meet the standards required for the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.