Section 8 Fair Market Rent (FMR) for ZIP 29169 - 2027

Location: Columbia, SC | Metro: Columbia, SC HUD Metro FMR Area

Investment Score for ZIP 29169

Monthly Rent (2BR)

$1,190

Median Price (2BR)

$175,141

1% Rule

0.68%

Annual Yield

8.15%

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	$960
1 Bedroom	$1,090
2 Bedrooms	$1,190
3 Bedrooms	$1,500
4 Bedrooms	$1,720
5 Bedrooms	$1,995
6 Bedrooms	$2,234
7 Bedrooms	$2,413
8 Bedrooms	$2,534

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	$1,190	$175,141	0.68%	D
3BR	$1,500	$237,085	0.63%	D
4BR	$1,720	$330,993	0.52%	F
5BR	$1,995	$452,707	0.44%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

21,647

Median Household Income

$57,122

Housing Units

11,548

Renter Percentage

46.7%

Occupancy Rate

90.1%

Renter Occupied

4,863

West Columbia, SC, represented by ZIP code 29169, is a growing suburban area that offers a blend of affordability and accessibility. Its proximity to Columbia makes it attractive for renters and buyers alike, while maintaining a distinct suburban charm.

The Fair Market Rent (FMR) for a two-bedroom apartment in West Columbia for fiscal year 2024 is set at $1130, indicating the minimum rent level considered fair by HUD.
The market rent, as measured by the Zillow Observed Rent Index (ZORI), stands at $1,662 for a similar unit, suggesting that market conditions allow for rents above the FMR.
The median home value in the area is $224,963, reflecting a relatively affordable housing market compared to many other parts of South Carolina.
Renters make up 46.7% of the housing market in West Columbia, showing a significant demand for rental properties.
The median household income in the area is $57,122, which provides insight into the economic capacity of potential tenants and homeowners.

The combination of a higher market rent relative to the FMR, a substantial renter share, and a median home value that suggests affordability, points to a favorable investment climate for landlords and small-portfolio investors. The area's growth and proximity to Columbia support strong tenant demand, making rental properties particularly attractive. However, investors should also consider the economic profile of the area, with median incomes that suggest careful tenant screening to ensure stable occupancy rates.

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.