Location: McCormick County, SC | Metro: Abbeville County, SC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
U.S. Census Bureau data (2024)
The real estate market in ZIP code 29819 presents a dynamic scenario that is indicative of the interplay between supply and demand. The Fair Market Rent (FMR) for the area stands at $900 for the fiscal year 2026, which is set by the U.S. Department of Housing and Urban Development (HUD) for Section 8 purposes. This figure is higher than the actual market rent, currently estimated at $800 based on data from the Census Bureau's American Community Survey (ACS).
This difference between the FMR and market rent suggests that the demand for rental properties in 29819 may be slightly lower than the supply. However, the absence of data on price-cut share and days on market (DOM) makes it challenging to definitively conclude the balance between supply and demand. Nonetheless, the trend towards a slightly higher FMR compared to the market rent implies that landlords might find some difficulty in renting units at the HUD-suggested rate.
The median home value in 29819 is $106,441. This relatively low figure could indicate that the area is attracting first-time homebuyers and those looking for affordable homeownership options. It also suggests that there might be a segment of the population that prefers owning over renting, given the accessible pricing of homes in the region.
A key metric in understanding the market dynamics is the renter share, which is recorded at 5.8%. This percentage is quite low, suggesting that the majority of residents prefer homeownership. A low renter share can point to long-term housing stability, as fewer individuals are in transitional living situations. However, it also means that there is less fluidity in the rental market, which could translate into fewer opportunities for short-term rental investments. For small-portfolio investors, this could imply that rental properties might have to compete more aggressively on price or amenities to attract tenants.
In summary, while the exact trajectory of the market cannot be forecasted without additional historical data, the current snapshot indicates a market where homeownership is favored over renting. The slight gap between FMR and market rent points to a potential surplus of rental units, although the low median home value and low renter share suggest an environment that is conducive to both homeownership and stable long-term rentals. Landlords and small-portfolio investors should focus on positioning their properties competitively within these parameters to maximize occupancy rates and returns.
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.