Location: Hampton County, SC | Metro: Jasper County, SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,210 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,670 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
U.S. Census Bureau data (2024)
12.3% of the residents in ZIP code 29922 are renters, indicating a modest demand for rental properties. The Fair Market Rent (FMR) for the area, set at $1190 for zip FY 2024, aligns closely with the housing needs of local tenants. However, the lack of specific data on market rent suggests that there might be discrepancies between actual rental rates and the FMR, which could impact investment decisions. With a median home value of $179,104, the real estate market in 29922 is relatively stable, offering a solid foundation for property investments. The median income of $28,750 provides insight into the financial capabilities of potential tenants, though it's important to note that this figure does not directly correlate to the ability to pay higher rents without government assistance. The absence of data on days on market (DOM) and the percentage of price-cut shares indicates a potentially less volatile market, but also leaves some uncertainty regarding the speed and ease of property sales or rentals. Given these factors, landlords and small-portfolio investors should carefully consider the balance between FMR and market rent when setting their own rental prices. The Section 8 program, with its fixed payment structure based on the $1190 FMR, remains a viable option for ensuring steady income and minimizing vacancy rates.
The data suggests that while the median home value and income levels are indicative of a middle-class community, the reliance on Section 8 vouchers is likely due to the limited financial resources of many residents. This makes it essential for landlords to understand the administrative requirements and benefits of participating in the Section 8 program. For those who choose to participate, the program can offer a reliable stream of rental income, protected by federal guidelines, which can be particularly attractive in an area where market dynamics are not fully clear. However, for those preferring to avoid the complexities of subsidized housing, understanding the local rental market trends becomes crucial, even if specific market rent data is not available.
Based on the provided data, landlords and small-portfolio investors should consider the benefits of the Section 8 program, especially given the alignment of the FMR with local rental demands and the stability it offers in terms of income predictability. The verdict for ZIP code 29922 is that Section 8 participation is a prudent strategy for securing consistent returns and managing risks associated with tenant turnover and vacancy.
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.