Location: Spartanburg, SC | Metro: Spartanburg, 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 | $1,450 |
| 1 Bedroom | $1,520 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $2,010 |
| 4 Bedrooms | $2,380 |
| 5 Bedrooms | $2,761 |
| 6 Bedrooms | $3,092 |
| 7 Bedrooms | $3,339 |
| 8 Bedrooms | $3,506 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,650 | $208,382 | 0.79% | D |
| 3BR | $2,010 | $276,204 | 0.73% | D |
| 4BR | $2,380 | $334,445 | 0.71% | D |
| 5BR | $2,761 | $404,770 | 0.68% | D |
U.S. Census Bureau data (2024)
1380 is the Fair Market Rent (FMR) for ZIP code 29369, Moore, SC, for fiscal year 2024, indicating the maximum amount Section 8 vouchers can cover for a two-bedroom apartment. 1664 is the Zillow Observed Rent Index (ZORI), which shows the average market rent for the same area, suggesting a gap between what the government will pay and what the market demands. 294320 represents the median home value in the region, reflecting a stable housing market where property values are consistent. 13.3% is the share of renters in Moore, SC, showing a relatively low demand for rental properties compared to homeownership, which could impact the appeal of rental investments. 82924 is the median income figure, providing insight into the financial capacity of residents to afford housing, whether through rentals or purchases. N/A indicates that there is no available data on the days on market (DOM), which might suggest that the local real estate market is either very efficient or lacks sufficient transaction data to draw conclusions. 0.2% is the price-cut share, revealing that very few properties have their prices reduced, indicating strong pricing power and minimal need for discounts among sellers. Given these figures, the verdict for Section 8 investments in ZIP 29369 is positive, as the FMR closely aligns with market rents, ensuring steady cash flow for landlords who can navigate the program's requirements.
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.