Location: Augusta-Richmond County, GA | Metro: Augusta-Richmond County, GA-SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
U.S. Census Bureau data (2024)
The ZIP code 29829, located in Graniteville, SC, stands out within Aiken County due to its unique demographic and economic characteristics. With a population of 12,385 residents, 18.3% of whom rent their homes, the area maintains a relatively low rental rate compared to other regions. The median income for households in 29829 is $84,228, which is higher than the national average, indicating a prosperous local economy. Additionally, the median home value of $278,563 suggests that homeownership is a significant part of the community's fabric.
For landlords and small-portfolio investors, understanding the voucher economics is crucial. The Fair Market Rent (FMR) for ZIP 29829 in fiscal year 2024 is set at $1,170, whereas the market rent, measured by the Zillow Observed Rent Index (ZORI), is significantly higher at $2,138. This disparity means that landlords who accept Section 8 vouchers can expect to receive a subsidy that covers a substantial portion of the market rent, making it an attractive option despite the lower initial payment. Specifically, the difference between the market rent and the FMR indicates a potential gap that could be filled by the voucher program, ensuring that landlords still receive a competitive rental income.
Based on the available data, the ZIP code 29829 presents a stable environment for investment. The higher median income supports a strong local economy, while the relatively low percentage of renters suggests a preference for homeownership among residents. This stability, combined with the favorable voucher economics, makes 29829 a promising location for both landlords and small-portfolio investors looking to secure steady rental income without the risks associated with transitional markets.
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.