Location: Columbia, SC | Metro: Columbia, SC HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,080 |
| 1 Bedroom | $1,220 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,330 | $153,554 | 0.87% | C |
| 3BR | $1,680 | $215,463 | 0.78% | D |
| 4BR | $1,900 | $293,832 | 0.65% | D |
| 5BR | $2,204 | $577,399 | 0.38% | F |
U.S. Census Bureau data (2024)
1360 is the Fair Market Rent (FMR) for ZIP 29209 in Columbia, SC, for fiscal year 2024, indicating the maximum rental assistance payment standard set by HUD. 1489 is the actual market rent, known as ZORI, which shows that the fair market rent is slightly above the typical rent charged in the area. 225,387 represents the median home value in the region, suggesting that homeownership is relatively affordable compared to other metropolitan areas. 41.3% is the percentage of residents who are renters, highlighting a significant demand for rental properties. 58,772 is the median income level, which is important for understanding the financial capacity of potential tenants. 25 days is the average Days on Market (DOM), meaning properties typically take about three weeks to be rented out. 0.2% is the share of listings that have been price-cut, indicating a stable rental market where landlords rarely need to reduce their asking prices.
In ZIP 29209, landlords can expect to receive a rental assistance payment of up to $1360 per month under the Section 8 program, which is close to the market rate of $1489. Given the median home value of $225,387, it's clear that real estate remains accessible for many investors. With 41.3% of the population being renters, there is a strong tenant base ready to occupy units. The median income of $58,772 provides insight into the economic conditions, ensuring that most residents can afford the rent. Properties listed for rent usually find tenants within 25 days, reflecting a brisk rental market. Furthermore, the low price-cut share of 0.2% suggests that landlords are setting competitive rates that align well with what tenants are willing to pay.
The verdict for Section 8 in ZIP 29209 is positive, given the alignment between FMR and market rents, coupled with a robust demand for rental properties and a stable economic environment.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.