Location: Hampton County, SC | Metro: Hampton County, SC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
U.S. Census Bureau data (2024)
Skeptical investors considering ZIP 29911 may have several valid concerns regarding the feasibility of investing in this area. Let's address these objections head-on with the available data.
The Fair Market Rent (FMR) of $1,140 can indeed help cover the mortgage on a home priced at $146,751. Assuming a conservative interest rate of 4% and a 30-year fixed mortgage, the monthly payment would be approximately $712. This leaves a significant buffer of over $400 per month between the FMR and the mortgage payment, which can be used to cover other expenses such as property taxes, insurance, maintenance, and utilities. However, it's important to note that the actual mortgage payment can vary based on the specific terms and conditions offered by lenders.
A rental demand rate of 33.7% suggests that there is a moderate level of demand in ZIP 29911. While this percentage might seem low compared to more densely populated areas, it still represents a substantial portion of potential tenants. To put this into perspective, if the total number of housing units in ZIP 29911 is around 2,000, then approximately 674 units are occupied by renters. This indicates a steady stream of potential tenants looking for affordable housing options. The key will be to ensure that the property is well-maintained and competitively priced to attract and retain tenants.
The market rent of $925 in ZIP 29911 is below the FMR of $1,140, which means that voucher holders should generally be able to find affordable housing within their subsidy limits. However, the data does not specify whether the Housing Choice Vouchers (Section 8 vouchers) will adjust to keep pace with any future increases in market rents. It's crucial for investors to monitor local housing authority policies and federal guidelines to anticipate any changes in voucher amounts.
In summary, while there are legitimate concerns regarding mortgage coverage, rental demand, and the adequacy of housing vouchers, the data for ZIP 29911 shows promising indicators for investment. The gap between FMR and mortgage payments allows for manageable operational costs, and the rental demand, though not high, is sufficient to support a modest portfolio. Investors must stay informed about policy adjustments to ensure long-term viability.
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.