Location: Spartanburg, SC | Metro: Greenville-Mauldin-Easley, 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 | $1,050 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,210 | $223,946 | 0.54% | F |
| 3BR | $1,460 | $369,000 | 0.4% | F |
| 4BR | $1,750 | $530,743 | 0.33% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 29322, located in Campobello, South Carolina, reveals a unique balance between yield and stability that could be attractive to both landlords and small-portfolio investors.
On the yield axis, the Fair Market Rent (FMR) for the fiscal year 2024 stands at $1050, which is notably higher than the market rent of $858. This indicates a potential upside for properties participating in the Section 8 program, as they can command rents above the local market average. The median home value in this area is $376,891, suggesting a moderate investment cost relative to the rental income potential.
Regarding stability, the data shows that 20.7% of residents are renters, which is a relatively low percentage compared to many other areas. This suggests a smaller pool of potential tenants who might be reliant on the Section 8 program. Additionally, the median household income is $69,656, which is a positive indicator for the financial health of the community but does not directly correlate with rental demand or stability. Unfortunately, the data on the number of days on the market (DOM) is not available, which would have helped assess how quickly properties can be rented out.
To classify the market, we must consider the interplay between these factors. With a FMR significantly above the market rent, ZIP 29322 leans towards a high-yield opportunity for Section 8 properties. However, the lower percentage of renters and the absence of DOM data introduce an element of uncertainty regarding stability. This makes it less suitable for a high-risk, high-reward "flip-style" market where quick turnover is key. Instead, it appears to be a steady-cashflow zone, albeit with slightly higher risk due to the limited rental population and unknown rental vacancy rates.
In summary, ZIP 29322 offers a moderate yield opportunity with a potential for steady cash flow, though investors should be aware of the relatively low demand for rentals and the associated risks. The $1050 FMR provides a clear advantage over the $858 market rent, but the $376,891 median home value and 20.7% renter population suggest caution in expectations for rapid property turnover.
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.