Housing market/South Carolina/ZIP 29340
ZIP 29340 Gaffney, Cherokee County, South Carolina
Cherokee County, SC · South Carolina. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.
ZIP brief
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HUD schedule, ACS stock, and the 90–110% band for ZIP 29340 · SC — sent to you.
ZIP 29340 · SC
ACS rent vs 2BR SAFMR
ZIP 29340 — Gaffney, SC HUD Section 8 Payment Standards / SAFMR →ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.
Housing stock
ACS 2023 units-in-structure · ZCTA 29340
- 1-unit detached6,53566.1%
- 1-unit attached470.5%
- 2–4 units6856.9%
- 5–49 units4624.7%
- 50+ units440.4%
- Mobile2,11621.4%
2–4 unit share 6.9% · 5–49 unit share 4.7% · combined 2–49 11.6%.
Units by bedrooms
Rent burden
- ACS median gross rent $773 (all bedrooms, occupied rentals).
- Median contract rent $563.
- Renters paying ≥30% of income 37.3%; ≥50% 14.8%.
- FY2027 2BR SAFMR $890 (1.151× ACS median gross rent).
Population
21,394 residents · ACS 2023
Change versus the 2018 ACS 5-year estimate: +1.7%.
ACS 5-year estimates lag current construction. This is not a forecast.
Assisted inventory
- LIHTC: 5 projects, 265 units.
- HUD project-based assisted MF: 2 properties, 117 assisted units.
- HCV household counts (Picture of Subsidized Households) are not on this page yet.
New apartment permits
About 64 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.
Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.
What the data shows
ZIP 29340 25.8% of occupied households are renters; vacancy is 14.5%; ACS median gross rent is $773; population increased +1.7% between the 2018 and 2023 ACS vintages; the housing stock includes 685 units in 2–4-unit structures and 462 units in 5–49-unit structures; 5 LIHTC projects totaling 265 units; FY2027 2BR SAFMR is $890 versus ACS median gross rent of $773. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.
South Carolina research
ZIP 29340 is a Census / HUD profile for Cherokee County, SC. Not a listing page. Brokerage is Georgia; out-of-state work is referral.
ZIP 29340 — Gaffney, SC HUD Section 8 Payment Standards / SAFMR·South Carolina ZIP directory
Nearby ZIPs in this FMR area
Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is South Carolina research. Brokerage is Georgia.
FAQ
What is the housing market like in ZIP 29340?
ZIP 29340 (Cherokee County, SC) has 21,394 residents, 8,456 households, a renter share of 25.8%, median household income of $42,359, and ACS 2023 median gross rent of $773. Vacancy is 14.5%. These are ZCTA estimates, not a property rent roll.
How much small multifamily housing is in 29340?
ACS counts 327 units in 2-unit buildings, 358 in 3–4 unit buildings, 304 in 5–9, 53 in 10–19, and 105 in 20–49. Combined 2–49 unit stock is 1,147 units. This is occupied-and-vacant stock, not listings for sale.
What is the Section 8 rent in 29340?
The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $890. See the full schedule and 90–110% payment-standard band on the ZIP 29340 — Gaffney, SC HUD Section 8 Payment Standards / SAFMR.
Does this South Carolina ZIP profile include Georgia listings?
No. ZIP 29340 is Census / HUD research for Cherokee County, SC. Jeff Crowe CRE does not list South Carolina property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.