Location: Barnwell County, SC | Metro: Allendale 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 | $640 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $890 |
| 3 Bedrooms | $1,100 |
| 4 Bedrooms | $1,160 |
| 5 Bedrooms | $1,346 |
| 6 Bedrooms | $1,508 |
| 7 Bedrooms | $1,629 |
| 8 Bedrooms | $1,710 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,100 | $211,134 | 0.52% | F |
U.S. Census Bureau data (2024)
The analysis for ZIP code 29812 reveals a significant opportunity for landlords and small-portfolio investors through the Section 8 program. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $900, while the current market rent based on Census ACS data stands at $717. This creates a gap of $183, or approximately 20%, where landlords can receive higher rents from voucher tenants compared to the open market.
The discrepancy between the FMR and the actual market rent means that voucher holders can afford units priced closer to the $900 mark. For landlords, this translates into a yield play, where they can potentially earn more per unit than what the local rental market would typically offer. Given that only 23.6% of residents in this ZIP code are renters, there is less competition from other rental properties, making it easier to attract and retain voucher tenants.
In ZIP 29812, the median home value is $166,617 and the median income is $51,870. These figures provide important context for understanding the financial landscape. The relatively low median income suggests that many residents rely on assistance programs such as Section 8 to secure affordable housing. Consequently, landlords who accept vouchers are positioned to serve a critical need in the community while also benefiting from the higher payment standards set by the government.
By accepting Section 8 tenants, landlords ensure steady and reliable income streams, backed by the federal government's commitment to pay the difference between the market rent and what the tenant can afford. This makes it a financially sound decision, especially when considering the limited number of rental units available in the area. Landlords should be aware that the administration of Section 8 properties requires adherence to certain regulations and standards, but the potential for increased rental yields justifies the effort.
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.