Section 8 Fair Market Rent (FMR) for ZIP 29150 - 2027

Location: Sumter, SC | Metro: Sumter, SC MSA

Investment Score for ZIP 29150

A+

Monthly Rent (2BR)

$1,310

Median Price (2BR)

$85,001

1% Rule

1.54%

Annual Yield

18.49%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$910
1 Bedroom	$1,000
2 Bedrooms	$1,310
3 Bedrooms	$1,560
4 Bedrooms	$2,020
5 Bedrooms	$2,343
6 Bedrooms	$2,624
7 Bedrooms	$2,834
8 Bedrooms	$2,976

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,310	$85,001	1.54%	A+
3BR	$1,560	$176,273	0.88%	C
4BR	$2,020	$309,798	0.65%	D
5BR	$2,343	$362,240	0.65%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

38,538

Median Household Income

$50,965

Housing Units

17,726

Renter Percentage

40.4%

Occupancy Rate

84.6%

Renter Occupied

6,062

To decide whether to invest in ZIP 29150 (Sumter, SC) for Section 8 properties, follow these steps:

Step 1: Can the Fair Market Rent (FMR) of $1,120 cover the debt service on a property valued at $187,777?

If yes: Proceed to Step 2.
If no: Do not invest in this area. The FMR does not sufficiently cover the debt service required for such a property value.

Step 2: Compare the Zillow Observed Rent Index (ZORI) of $1,245 against the FMR of $1,120.

If ZORI is above FMR: The market rent is higher than the FMR, which means that landlords can potentially charge more than the Section 8 payment limit. This makes the investment less attractive specifically for Section 8 tenants.
If ZORI is equal to or below FMR: Proceed to Step 3. The market rent is either at or below the FMR, making it feasible to find tenants who qualify for Section 8 assistance.

Step 3: Evaluate the rental demand based on the percentage of renters (40.4%) and the days on market (DOM) figure of 53 days.

If there is sufficient demand: Invest in ZIP 29150. The 40.4% of renters indicates a moderate level of rental activity, and the DOM of 53 days suggests that rental units are being filled relatively quickly. This combination supports a positive outlook for finding Section 8 tenants.
If there is insufficient demand: It depends on your risk tolerance and investment strategy. With only 40.4% of residents being renters and an average DOM of 53 days, the demand might not be strong enough to guarantee a steady stream of Section 8 tenants. Consider other factors such as local economic trends and vacancy rates before making a decision.

The decision to invest in ZIP 29150 for Section 8 properties hinges on the ability of the FMR to cover debt service and the relationship between market rents and the FMR. Additionally, the rental demand must be substantial enough to ensure a consistent tenant pipeline. Based on the data, if the FMR of $1,120 clears the debt service on a $187,777 property and the market rent is at or below the FMR, then the answer is yes. Otherwise, the answer is no or it depends.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.