Location: Beaufort County, SC | Metro: Beaufort County, SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,850 |
| 1 Bedroom | $1,930 |
| 2 Bedrooms | $2,100 |
| 3 Bedrooms | $2,500 |
| 4 Bedrooms | $2,930 |
| 5 Bedrooms | $3,399 |
| 6 Bedrooms | $3,807 |
| 7 Bedrooms | $4,112 |
| 8 Bedrooms | $4,318 |
U.S. Census Bureau data (2024)
The rent math in ZIP 29915 does not align favorably with the current financial landscape. The Fair Market Rent (FMR) for the area is set at $1700 for fiscal year 2024. However, without specific market rent data, it's challenging to determine if the FMR accurately reflects what tenants can afford or what landlords can charge. This uncertainty suggests that landlords should carefully assess individual property values and tenant affordability before setting rents.
Acquisition in ZIP 29915 is relatively affordable, with a median home value of $686,276. Despite this figure, the lack of detailed data on days on market (DOM) and the low percentage of homes needing price cuts (0.1%) indicate a stable but not highly competitive market for acquiring properties. Landlords looking to enter this market should expect a moderate investment climate where homes hold their value well.
Tenant demand in ZIP 29915 is modest given the area's total population of 619 and only 1.4% of residents being renters. This low percentage implies a limited pool of potential tenants, which could make it difficult to find enough Section 8 eligible applicants to fill rental units. Landlords must consider the local demographic trends and possibly expand their search radius to attract a broader tenant base.
In summary, ZIP 29915 presents a mixed picture for landlords and small-portfolio investors. While the median home value indicates an affordable entry point into the housing market, the unclear relationship between FMR and market rent, combined with a low tenant demand, suggests caution. Landlords should thoroughly research the specific conditions of individual properties and the broader local economy to ensure profitability and sustainability. The success of rental investments here will largely depend on careful property selection and possibly diversifying the target tenant market beyond just Section 8 participants.
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.