Section 8 Fair Market Rent (FMR) for ZIP 29046 - 2027

Location: Lee County, SC | Metro: Lee County, SC

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$640
1 Bedroom	$680
2 Bedrooms	$890
3 Bedrooms	$1,060
4 Bedrooms	$1,250
5 Bedrooms	$1,450
6 Bedrooms	$1,624
7 Bedrooms	$1,754
8 Bedrooms	$1,842

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$N/A

Housing Units

Renter Percentage

N/A

Occupancy Rate

51.2%

Renter Occupied

To determine if you should buy in ZIP code 29046 for Section 8 investments, follow this decision tree based on the available data:

1) Does the Fair Market Rent (FMR) of $910 clear debt service on a property?

If the answer is yes, proceed to the next question.
If the answer is no, do not invest in this area as the rental income will not cover your expenses.

2) Is the market rent above, at, or below the FMR of $910?

If the market rent is above $910, consider investing as you can potentially earn more than the FMR.
If the market rent is at $910, you can expect to break even with the FMR but there's no room for error in your budgeting.
If the market rent is below $910, reconsider your investment as you might struggle to find tenants willing to pay the FMR.

3) Are 0.0% of the residents renters and with N/A-day days on the market (DOM) enough to meet demand?

If the percentage of renters is significantly higher than 0.0%, and properties have a low DOM indicating strong demand, then proceed with confidence.
If the percentage of renters remains at 0.0% and DOM is high, it suggests weak demand and you should avoid investing here.

Note that without specific data on market rent and the percentage of renters, some branches of the decision tree cannot be fully evaluated. For a precise analysis, obtain the exact figures for these parameters.

The decision to invest in ZIP 29046 hinges on whether the FMR of $910 can sustainably cover your debt service costs. Additionally, understanding the local rental market dynamics and the proportion of renters is crucial for gauging demand. Make your decision based on the answers to these key questions.

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.