Location: Barnwell County, SC | Metro: Augusta-Richmond County, GA-SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
In ZIP 29853, the gap between the Fair Market Rent (FMR) of $920 for a two-bedroom apartment and the market rent of $684, as reported by the Census ACS, is $236. This represents a significant difference of approximately 34.5%. Given these figures, it is evident that the FMR exceeds the current market rent.
The thesis for Section 8 real estate in ZIP 29853 is straightforward: landlords who accept Section 8 vouchers will be able to charge closer to the FMR of $920 rather than the lower market rent of $684. This makes the area a yield play for landlords. With 32.5% of residents being renters, and a median home value of $135,580, there is a substantial population that relies on affordable housing options.
The median income in the area is $44,983, which aligns well with the eligibility criteria for Section 8 vouchers. Landlords can expect steady, government-backed rental payments that exceed the open-market rates, thereby increasing their potential returns on investment. Accepting voucher tenants in ZIP 29853 allows landlords to capitalize on the higher FMR while providing much-needed affordable housing to eligible residents.
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.