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Colleton County/Walterboro/29488

29488

ZIPSAFMR
Colleton County, SC
Zillow

ZIP Investment Score

98Above average

095130300
BRFMR
Eff. Rent
0 BR$650$720
1 BR$690$760
2 BR$900$990
3 BR$1,070$1,180
4 BR$1,330$1,460
5 BR$1,529Not available
6 BR$1,759Not available
7 BR$2,023Not available
8 BR$2,326Not available

Purchase Price Calculator

Maximum purchase price
$85,197

Cost breakdown

+Likely effective rent$990
HUD FMR$900
Market rent$1,510
Est. payment standard (110%)Used$990
-Principal and interest-$431
Loan amount$68,158
Down payment$17,039
Rate6.50%
Term30 years
-Operating costs-$359
Property taxes-$85
Insurance-$175
Utilities$0
HOA$0
Management-$99
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,193(95.0% ROI)
Projected value
$91,748
Return breakdown
Property appreciation+$6,551
Loan principal paid down+$2,442
Rental cash flow+$7,200
5-year hold
+$27,550(161.7% ROI)
Projected value
$96,393
Return breakdown
Property appreciation+$11,196
Loan principal paid down+$4,355
Rental cash flow+$12,000
10-year hold
+$58,239(341.8% ROI)
Projected value
$109,059
Return breakdown
Property appreciation+$23,862
Loan principal paid down+$10,376
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.48
1 BR
0.51
2 BR
0.60
3 BR
0.62
4 BR
0.75
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 29488 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 29488 (Walterboro, SC) is $900 a month. That is unchanged from FY 2026. Walterboro is in the Colleton County, SC non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $913. Among 15 ZIP codes in Colleton County, 29488 has the 13th-highest two-bedroom rent (county range $890–$1,640). The median county two-bedroom FMR in South Carolina is $1,098, so ZIP 29488 is 18% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 29488
BedroomsFY 2027Change90–110% range
Studio$650−4.4%$585–$715
1BR$6900.0%$621–$759
2BR$9000.0%$810–$990
3BR$1,070−0.9%$963–$1,177
4BR$1,330−9.5%$1,197–$1,463

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 29488
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$650$690$900$1,070$1,330
FY 2026$680$690$900$1,080$1,470
FY 2025$700$760$930$1,120$1,580
FY 2024area FMR$720$756$905$1,094$1,457
FY 2023area FMR$648$695$785$957$1,146

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Colleton County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 29488
29082$910+1.1%
29432$1,170+30.0%
29435$920+2.2%
29438$1,240+37.8%
29446$1,120+24.4%
29452$1,240+37.8%
29472$1,430+58.9%
29474$890−1.1%
29475$940+4.4%
29481$1,170+30.0%
29488Current$900—
29493$1,010+12.2%

Questions about ZIP 29488 rents

How much will Section 8 pay for a two-bedroom in ZIP 29488?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $913, which applies unless the housing authority uses Small Area FMRs, that basic range is $822 to $1,004 a month; under the ZIP-level Small Area FMR of $900 it would be $810 to $990. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 29488 in?

ZIP 29488 is in the Colleton County, SC non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $913.

How much did fair market rent change in ZIP 29488 for FY 2027?

The two-bedroom FMR was unchanged at $900 in FY 2027. Since FY 2025 it has fallen 3.2%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentWalterboro, SC fair market rentSC statewide rentsWhat is SAFMR?Data sources