Location: McCormick County, SC | Metro: Augusta-Richmond County, GA-SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,220 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $2,060 |
| 5 Bedrooms | $2,390 |
| 6 Bedrooms | $2,677 |
| 7 Bedrooms | $2,891 |
| 8 Bedrooms | $3,036 |
U.S. Census Bureau data (2024)
The dynamics of ZIP code 29821 present an interesting market in motion, driven by the interplay between rental and homeownership trends. With a Fair Market Rent (FMR) set at $990 for fiscal year 2024, landlords and small-portfolio investors can expect that the rental market is closely aligned with federal guidelines, indicating a stable environment for rental pricing.
Despite the lack of specific market rent data, the median home value of $302,019 provides insight into the overall property valuation in the area. This figure suggests that homeownership is attainable for many residents, which could indicate a balanced market where neither supply nor demand significantly outpaces the other.
The 6.0% renter share highlights a key aspect of the long-term housing pressure in ZIP 29821. This relatively low percentage of renters compared to homeowners implies that there is a strong preference for owning homes over renting. However, it also means that a smaller portion of the population is available to absorb rental properties, potentially leading to higher competition among renters and greater stability in rental prices.
While the absence of price-cut share and days on market (DOM) data makes it difficult to pinpoint short-term market movements, the median home value and FMR provide a snapshot of the economic realities facing both landlords and potential homeowners. Landlords can leverage the stable rental market to maintain consistent income streams, while investors might consider the potential for appreciation in home values as a strategic asset allocation.
In summary, ZIP 29821 presents a market where homeownership is prevalent, and the rental sector, though modest, is likely to remain stable due to alignment with federal rent standards. The low renter share underscores the enduring appeal of homeownership in the area, suggesting a resilient housing market that can withstand fluctuations in supply and demand.
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.