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 |
|---|---|---|---|---|
| 2BR | $890 | $244,842 | 0.36% | F |
| 3BR | $1,080 | $337,850 | 0.32% | F |
| 4BR | $1,210 | $661,472 | 0.18% | F |
U.S. Census Bureau data (2024)
ZIP code 29696, located in West Union, SC within the Oconee County, SC metro, presents a unique profile compared to other ZIP codes in the county. The Fair Market Rent (FMR) for the area is set at $900 for fiscal year 2026, slightly above the market rent figure of $866. This indicates that while there is a government-set benchmark for rental prices, actual market conditions are somewhat lower, suggesting potential for landlords to increase rents closer to the FMR without significantly deterring tenants.
The median home value in ZIP 29696 is $340,650, which is on par with typical home values in Oconee County. However, the 16.6% renter share stands out as it is notably higher than the average for the county. This higher proportion of renters can be indicative of a demographic that may include a significant number of Section 8 voucher holders. In areas where the renter share is high but home values are relatively stable or even lower than the metro average, such as in this case, it often points to a sweet spot for landlords who cater to subsidized housing programs like Section 8.
To summarize, ZIP 29696 appears to be a mid-tier neighborhood within the Oconee County, SC metro. It offers a balance between rental income potential and property values that align closely with county averages. The elevated renter share suggests a strong presence of Section 8 tenants, making it an attractive location for landlords interested in serving this segment of the market.
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.