Section 8 Fair Market Rent (FMR) for ZIP 29218 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 29218, located in South Carolina, offers a unique opportunity for real estate investors looking to enter the market in a less densely populated area. The Federal Market Rent (FMR) for this region is set at $1290 for the fiscal year 2024, providing a benchmark for rental properties.

• Federal Market Rent: The FMR for ZIP 29218 is $1290 for the fiscal year 2024, indicating the average fair market rent for a two-bedroom apartment.
• Market Rent: Specific market rent data is currently unavailable, but the FMR serves as a reliable estimate for rental property pricing.
• Median Home Value: Data on the median home value is not available, which can make it challenging to assess property appreciation potential.
• Renter Share: The percentage of residents who are renters is not specified, making it difficult to gauge demand for rental properties specifically.
• Days on Market (DOM): Information regarding the typical days on market for properties is missing, which could be crucial for understanding the speed of transactions.
• Median Income: The median income figure for the area is also unspecified, which is important for assessing the financial capability of potential tenants.

In summary, while the Federal Market Rent provides a solid anchor for setting rental rates, the lack of detailed local market data such as median home values, renter share percentages, and median income levels introduces uncertainty. Investors should focus on leveraging the FMR to guide their pricing strategies and consider conducting further research to fill in these data gaps for a comprehensive investment approach.

Data Sources: FMR data from HUD (2027).

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.