Location: Spartanburg, SC | Metro: Spartanburg, SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 29378 in the Spartanburg, SC HUD Metro FMR Area for fiscal year 2024 is set at $1220. This figure represents the maximum amount that landlords can charge for Section 8 voucher tenants in the area. In comparison, the market rent as reported by the Census ACS is significantly lower at $918, indicating that voucher tenants will provide a substantial positive cash flow for landlords. The difference between the HUD FMR and the market rent suggests that landlords can expect to cashflow positively without needing to seek out premium units.
Given the median home value is not available, we cannot directly calculate a precise rent-to-price ratio. However, the fact that there is no median home value data might imply limited housing inventory or a focus on rental properties rather than sales, which could benefit investors looking to capitalize on the rental market.
The days on market (DOM) and price-cut share percentages are also not available, but their absence does not necessarily impact the strong cash flow potential for Section 8 investors in this area. Without these metrics, it's challenging to assess the exact rent-versus-buy dynamics, but the primary focus remains on the significant gap between the HUD FMR and the actual market rent.
The strongest angle for investors in ZIP 29378 is cashflow. With the HUD FMR well above the market rent, landlords can secure steady, reliable income from Section 8 voucher tenants while maintaining a comfortable profit margin. This makes the area particularly attractive for those seeking stable and predictable returns from their investment properties.
Data Sources: FMR data from HUD (2027). 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.