Location: Beaufort County, SC | Metro: Beaufort County, SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,770 |
| 1 Bedroom | $1,840 |
| 2 Bedrooms | $2,010 |
| 3 Bedrooms | $2,390 |
| 4 Bedrooms | $2,880 |
| 5 Bedrooms | $3,341 |
| 6 Bedrooms | $3,742 |
| 7 Bedrooms | $4,041 |
| 8 Bedrooms | $4,243 |
The Section 8 market in ZIP code 29938, located in Beaufort County, South Carolina, is characterized by a Federal Housing Administration (HUD) Fair Market Rent (FMR) rate of $1650 for fiscal year 2024. This figure represents the maximum amount that voucher holders can pay toward their rent. However, due to the lack of available market rent data, it's challenging to provide a direct comparison between the HUD FMR and current market rates. Despite this, we can infer that voucher tenants will likely cashflow at the FMR rate, given that the HUD FMR is designed to reflect reasonable rental costs in the area.
The median home value in this ZIP code is also not specified, which makes deriving an exact rent-to-price ratio impossible. Nevertheless, understanding the local housing market is crucial for determining the potential for investment. In areas where the median home value is significantly higher than the rent, the rent-to-price ratio would suggest that renting is more affordable compared to buying, potentially indicating strong demand for rentals.
Without specific data on the number of days on market (DOM) and the percentage of homes that experience price cuts, it's difficult to assess the precise dynamics between renting and buying. However, these metrics would be important to consider when evaluating the overall health of the real estate market and the likelihood of finding stable, long-term tenants.
The strongest angle for investors in ZIP code 29938 is likely cashflow. Given the established HUD FMR rate and the absence of higher market rents, landlords can rely on a steady stream of income from voucher tenants without the risk of significant vacancy periods. This predictability is particularly appealing for small-portfolio investors looking for consistent returns on their investments.
Data Sources: FMR data from HUD (2027).
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.