Location: Barnwell County, SC | Metro: Bamberg County, SC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,190 |
| 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 analysis of the Section 8 program in ZIP code 29843 reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area in fiscal year 2026 is set at $1,010, while the Census ACS data indicates an average market rent of $896. This results in a gap of $114, or approximately 13%, where the FMR exceeds the market rent.
The higher FMR compared to the market rent makes ZIP 29843 a prime location for landlords and small-portfolio investors looking to maximize their yields. Voucher tenants can provide a stable and reliable source of income, as they cover the entire rent amount up to the FMR. In this case, landlords can charge the FMR rate of $1,010, which is above the current market rate, thus increasing rental income per unit. This scenario benefits investors who want to ensure that their properties generate consistent returns without the risk of vacancy or delinquency associated with non-subsidized tenants.
The context of the ZIP code further supports this analysis. With only 9.2% of residents being renters, the demand for rental properties is relatively low, making it advantageous for landlords to participate in the Section 8 program to attract tenants. Additionally, the median home value of $137,984 suggests a moderately priced housing market, while the median income of $35,986 indicates that many residents may struggle to afford market-rate rents. Therefore, the Section 8 program serves as a critical tool for landlords to fill units and earn a higher rent than the open-market average.
To summarize, the disparity between the FMR and market rent in ZIP 29843 creates an opportunity for landlords and investors to leverage the Section 8 program to increase their rental yields. By accepting voucher tenants, landlords can charge closer to the FMR rate, thereby securing a higher and more predictable income stream from their rental properties.
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.